Look at your finances during Talk Money Week

Members are being encouraged to review their finances as part of Talk Money Week which starts today.

And Gwent Police Federation says there are positive steps members can make to improve their financial wellbeing.

“There has never been a better time than now, during the pandemic, to review and try to improve our financial wellbeing,” says Steve Thorpe, Federation branch chair.

“Being in control of your finances can have a positive impact on your wellbeing, in the same way that we know worrying about our finances can affect our mental health.

“There are little steps you can take that could help make a difference to your finances. For instance, set yourself a daily spend limit, check you’re not overpaying on utility and other bills and check your bank balance regularly to avoid any nasty surprises.

“But, if you are experiencing financial difficulties, perhaps as a result of your household income being reduced due to the pandemic, please get in touch with us as we can help you get support and advice.”

Talk Money Week, which starts today, is a campaign by the Money and Pensions Service (MaPS) which aims to improve financial wellbeing by encouraging people to open up about their finances.

MaPS is sponsored by the Department for Work and Pensions and brings together three financial guidance bodies: the Money Advice Service, The Pensions Advisory Service and Pension Wise.

To mark Talk Money Week, Police Mutual has produced a free factsheet for members to help break the stigma of talking about money and debt issues.

The guide includes a financial fitness checker, a budget calculator and links to financial products that could save you money.

It also includes tips on budgeting for Christmas, advice on managing your money and mental wellbeing, and signposts for where to look for advice.