Scrutinise your spend
Spring is here and it’s a good time to look at your finances with a fresh pair of eyes.
Our in-house charity, the Rowland Hill Fund (RHF) offers financial support to both current and former Royal Mail Group employees.
In 2017-2018, the fund gave £500,000 to our people, helping them with council tax arrears, medical expenses, disability aids, funeral expenses, household items and more - issues that can affect any of us at some point in our lives.
Today, they share their top tips for keeping on top of your finances.
- Write down your income and expenditure – knowing what comes in and how much goes out is vital
- Scrutinise your spend - look at your bank statement like a stranger!
- Always ask yourself ‘Do I want it or do I need it?’
- Don’t ignore debt – it won’t go away
- If you have debt problems, get help from a free expert debt agency – StepChange, Payplan, Citizens Advice – they can all help you get your debt under control
- Beware of payday loans – they are not a long-term solution, but a long-term problem.
RHF communications manager, Shan Lawrence, said: ‘People can get into financial trouble very quickly if their circumstances change, especially with sudden illness or a relationship breakdown. That’s where we can help.
‘But whatever your financial situation, it’s always worth taking a fresh look at your finances from time to time. Half of all the applications we receive are related to debt. Knowing where your money’s going and dealing with any debts you have is really important.’
If you think you or a colleague may need help, call the Rowland Hill Fund confidential helpline on 0345 600 4586 to start the process. If necessary, you can also call on a colleague’s behalf to help them take the first step.
