Support available for people struggling with their finances

The Welsh Government has urged people struggling with their finances to get help after it recently approved funding for a new helpline.

A £2.3 million funding package for Citizens Advice Cymru has been approved until March 2015. The funding will support the Adviceline Cymru telephone helpline service and provide help to people to claim the benefits to which they are entitled. As part of its Programme for Government the Welsh Government has committed to supporting third sector advice providers to assist people who have debt problems and help people manage their finances.

Minister for Local Government and Communities Carl Sargeant said: “Managing money can be overwhelming or confusing at the best of times but at this time of year, when people are under significant pressure to pay off Christmas debts it is all the more important they know where to turn for advice and help.

“As the cost of living rises many households are struggling to meet utility, fuel and food bills as well as any repayments for mortgages, loans and credit cards. If people are struggling with debt then their local Citizen’s Advice Bureau or Credit Union can provide them with professional help.

“Advice on finance and getting your finances in order is provided free of charge from the Money Advice Service. And if you have borrowed from an illegal lender and are worried about making repayments, contact the Wales Illegal Money Lending Unit for support.

“As part of our Programme for Government we have also committed to continue to support and expand credit unions in Wales. We would encourage anyone in need of financial assistance to contact their local credit union rather than turn to illegal money lenders. Credit unions are an affordable and realistic alternative to pay-day loans and offer savings accounts, loan facilities and basic financial products. With a credit union in every local authority in Wales, people in all parts of the country have access to a credit union.”

Minister for Environment and Sustainable Development, John Griffiths AM added: “As a government we are also committed to tackling fuel poverty. Through our new fuel poverty scheme, Nest, we are investing around £100 million over the next five years to help up to 15,000 households per year to reduce their fuel bills. We are also investing in Arbed, our strategic energy investment programme. Phase 1 of Arbed supported the installation of heating and insulation improvements in over 7,500 households in Wales and Phase 2 is expected to help a further 4,800 households.”