It seems there is bad economic news all around us at the moment...bad news about prices, bad news about the credit crunch and bad news about debt. At times like these, the need for a positive response on good money management skills has never been greater.  With so much need, how can we react?  We at Credit Action believe that some simple steps can really help people to manage their money better, be that support from a trusted budget coach or support worker, a guide to managing their money better or a budget form they find on the internet.  Good budgeting and money management may not physically put more money in your pocket but it will help you feel more in control, less stressed and probably with more pounds left at the end of the month.

In this edition of our newsletter read about the free training we have recently delivered to equip organisations in Leeds to help their communities with money management and why money is an issue in the Polish community in the UK and how Credit Action are addressing this.  There is also an article about the Radio 4 Appeal that the Archbishop of Canterbury has recorded on Credit Action’s behalf to be broadcast on Sunday August 3, 2008 at 7.55am – do tune in and tell others that might be interested in our work. Click on the links below to read more about each of these stories:

 Archbishop of Canterbury records Appeal

We are extremely honoured that His Grace, the Archbishop of Canterbury, Dr Rowan Williams has recorded a fundraising appeal on behalf of Credit Action for Radio 4. Helping people to make better use of their money is a key issue for the Archbishop, who has already voiced concerns in the House of Lords about the impact of the economic downturn on the least well-off.

In his appeal, Dr Williams says debt “has far-reaching consequences, which include stress, ill-health, family breakdown and even suicide. Improving financial literacy and empowering people who are dealing with debt is therefore vitally important. Credit Action does just this by giving people the skills and confidence to take control of their money.”

The appeal will be broadcast on BBC Radio 4 on Sunday August 3 2008 at 7.55am and 9.26pm (repeated Thursday August 7 2008 at 3.27pm) and will be available on-line for 4 weeks after the appeal at [ http://www.bbc.co.uk/radio4/religion/radio4appeal.shtml ]http://www.bbc.co.uk/radio4/religion/radio4appeal.shtml. Do listen in to and let others know who might be interested in our work!

Project focus – Leeds community training

Most people do not seek out help with their money until something goes wrong and often, even at that point, they do not know where to turn. Reaching people before money becomes a problem and providing support and signposting to those who are already facing money issues are a high priority. One of the most effective ways that we do this is by training staff and volunteers from organisations who are already working alongside vulnerable people in the community. By equipping these frontline workers, clients are able to receive support when they need it most from people they already know.  

Thanks to a grant from International Personal Finance administered by the Leeds Community Foundation, we recently ran our budgeting course free of charge for community organisations in deprived districts of Leeds. Attendees came from a range of organisations including housing associations, churches and those working with youth, women and the elderly. The feedback was really positive with 100% of attendees agreeing that the course had taught them new skills and that they would recommend it to others. We at Credit Action were delighted to be able to support the people of Leeds in this way.

Addressing money issues in minority groups

Did you know that there are more than 500,000 Polish people living in the UK, most of whom have moved here since 2004? We all know from the media that the Poles have a reputation for hard work and many have been very successful here.  Many however have found themselves in low paid jobs (often below minimum wage) in a country where the cost of living is much higher than in their homeland.  Less reported too are the difficulties that some Poles have faced negotiating the banking and credit system in the UK, which is very different from that in Poland, and the debts that some have found themselves in simply because they did not understand the system.

To address this, we have produced a version of our ‘Thinking About Money’ guide in Polish and hope to distribute this through those places accessed by Polish migrants, especially in their first few months in the country. We have 10,000 free copies and would be keen to hear from organisations working with the Polish community who might be interested in receiving some copies. Please e-mail Lindsey at office@creditaction.org.uk.

Obviously, these issues are common to many ethnic groups living in the UK and we hope that the Polish guides will just be the start of a range of Credit Action materials in other languages.