Money worries can lead to stress and anxiety and more people than ever are concerned about their finances at the moment. A recent survey by Mind found that 40 percent of men are feeling low due to worries about job security, work and money.
One way to tackle this problem is to get a better understanding of how to manage your money. Research carried out by the Financial Services Authority (FSA) showed that improving money management skills enhances psychological wellbeing and life satisfaction, as well as cutting the risk of anxiety and depression.
The Consumer Financial Education Body (CFEB) website offers free advice on all aspects of money management, whether its day-to-day budgeting, saving for a big expense, financing retirement or help if you lose your job. There is also a telephone number if you prefer to speak to an advisor 0300 500 5000.
There is plenty of free advice available to help you get your finances in order. If you are in debt, want to learn more about pensions, savings, mortgages, insurance or how to cut your costs you can access information online via the Citizen’s Advice Bureau’s website, or find your nearest local branch to speak to someone face-to-face.
Lambeth residents can also take advantage of the recently opened London Mutual Credit Union at 10 Acre Lane, Brixton, London, SW2 5LL. This ethical local co-operative offers financial services and advice to Lambeth and Southwark residents, and those who study, work or volunteer in these boroughs. To become a member and benefit from its services you must prove that you have these links with the borough and fill out an online application form.
For more vulnerable members of the community, such as those with mental or physical health issues or disabilities and their carers you can access advice on financial benefits via the Every Pound Counts service run by Lambeth Council.
This service can carry out a benefits check if you fall into the following categories:
- People aged 60 and above
- People living with long term illness
- Disabled people
- People with sensory impairments
- Children who are ill or disabled including children with special support needs because of developmental or behavioural conditions
- The carers of any of these people living in Lambeth
Advisors can visit you at home and check that you are getting all the benefits you are entitled to. Every Pound Counts can also help in crisis situations, for example if you, or someone you care for, is recently diagnosed with a disability or has suffered a major health issue such as a stroke.
It also runs a Family Support Project to advise parents about what benefits they can claim and to advise parents who are thinking of returning to work.
Contact Every Pound Counts on everypoundcounts@lambeth.gov.uk or call 020 7926 5555.
Other resources available to Lambeth residents who want help managing their finances or coping with debts or bankruptcy include:
Centre 70
46 Knights Hill,
SE27 0JD
T: 020 8670 0070
Lambeth Law Centre
Lambeth Co-operative Development Agency
11 Mowll Street
SW9 6BG
T: 020 7840 2000
Brixton Advice Centre
167 Railton Road
SE24 OLU
T: 020 7733 7554
Age UK Lambeth
3rd Floor Lambeth Accord
336 Brixton Road
SW9 7AA
T: 020 7733 0528
Lambeth Citizens Advice Bureau
1 Barrhill Road
Streatham Hill
SW2 4RJ
Tel 0844 243 8430
Clapham Community Project
St Anne's Hall
31-33 Bromells Road
SW4 0BN
T. 0207 627 0240
Waterloo Action Centre
14 Baylis Road
Waterloo
SE1 7AA
T. 020 7261 1404
