A financial healthcheck
We go to the doctor for medical advice or a health check. Yet many of us never think of checking our finances. A financial health check is just as important as a medical check-up as it helps us to make good financial decisions and gives us access to choices, such as how you live (your lifestyle), where you go on holiday, the car you buy, etc. So what is a financial health check?
Well, this could be as simple as checking your credit rating. There are lots of credit agencies out there and it’s completely free. Use one to get your current credit score. Check it for any inaccuracies. Review it when you want to apply for credit, for example, a credit card or a loan. But remember, the more you apply for credit the lower your score gets, even when you have been refused or decide not to go ahead.
Use the tools in the Help Centre area of our website such as the Financial Health Check (link). This will give you a personalised action plan, help you sort out your money priorities now, and help plan for the future. There is a budget planner (link) too which may help you identify where you can make savings or determine how much “spare” cash you have at the end of the month.
If you are experiencing money issues then please don’t ignore them. Many people leave it too late before seeking our advice or help. This can then limit the chances of resolving their issues positively. If things are difficult get in touch with us (link). We have helped many members who have been impacted by Covid-19. Don’t just ignore things or leave them till it is too late. These issues will impact you for a long time, 6 – 10 years if left unresolved.
If we can’t help then there are others out there such as Citizens Advice who can provide debt guidance as well as advice on benefit entitlements.
Speaking of talking, come and join Valerie Walwyn-Tait, our CEO, on 23rd March at our “Let’s Talk Money” virtual event. This will be on Zoom – of course! If you have a question but have been too afraid to ask now is your time. You will be able to send in your questions in advance if you prefer. Valerie will be using her experience to talk about general money issues. Please email firstname.lastname@example.org to reserve your place.