The Money Advice Service helps people manage their money. They do this directly through their own free and impartial advice service. They are an independent service set up by government.
- Advice and guides to help improve your finances
- Tools and calculators to help you keep track and plan ahead
- Support in person, over the phone and online
They can also help with the following:
- Debt and Borrowing - what to know before you borrow, take control of debt, mortgage and debt problems and help with loans.
- Budgeting and managing money - how to maintain a bank account, managing money, cutting costs and credit ratings.
- Saving and Investing - how to save money, types of savings, how to invest money and types of investment.
- Work and Redundancy - employment basics, redundancy, benefits at work and self-employment.
- Prioritise your Debt - if you have several debts, find out which ones to pay back first.
For free and impartial money advice, you can call them on 0300 500 5000.
Setting up a Basic Bank Account
The majority of people can set up a bank account which helps to manage day to day money with ease.
Basic bank accounts are used as a stepping stone to a current account. It does not matter if you have a poor credit record or you are on a low income.
A basic bank account allows you to:
- Pay bills by Direct Debit or standing order.
- Receive payments such as salary, wages or benefits.
Help and support
- Colchester Citizen Advice - provide free and impartial advice. Their goal is to help everyone, whatever problem they face.
- One Support Colchester - provide individual support to prevent homelessness, help to maintain tenancies and increase life skills.
- Signpost - help people of all ages to get back into work or to move on.
- Universal job match - Search and apply for full or part-time jobs in Great Britain and abroad.
- GOV.UK - The best place to find government services and information
- Age UK - A local charity providing services and support for older people in the Colchester area