Managing your money (budgeting) is useful to limit you getting in to debt. Having a budget, and having it written down, help to make sure that you do not spend more on luxuries than the necessities.
Having a budget can help you to cope better with the ‘unexpected’. Here are some top online resources:
Cestria are also working in partnership with Moneymadeclear from the Financial Services Authority and offer free, confidential, advice sessions at the One Stop Shop. For forthcoming dates and times please see our events page.
Right of Appropriation
Where a tenant has their wages and/or benefits paid into a bank account they can find that these payments are 'swallowed up' to offset any unauthorised overdraft. This then means that they are unable to pay essential bills including their rent, and may incur bank charges if standing orders/direct debits get refused.
However, any income being paid into a bank account can be protected by what is called the 'first right of appropriation'.
This gives the account holder the right to specify how money paid into their bank account such as wages and/or benefits isused.
The account holder must request this right in writing and give the bank at least seven days notice.
Please contact our Financial Inclusion Officer for more information, a leaflet and a standard letter.
News Articles
Click here if you want to know more about the benefit changes taking place from April this year.
Click here to find out what the Budget 2012 means to you.
Millions set to take out payday loans