Managing money can be difficult. Most people have some form of debt but if you are having trouble with repayments, you should get help with this as soon as possible.
Advice is available about how to set a budget, cut bills and pay off debts. Tools are also available online to help you budget, prioritise your debts and set savings goals.
Notts & Lincs Credit Union
The Lincolnshire & Nottingham Credit Union merged with the Nottingham Credit Union on 31st July 2020. Anyone living or working in Lincolnshire or Nottinghamshire, or working for one of our agreed Payroll Partners can become a member. It is free to join and there are no annual membership fees.
A Credit Union loan saves money, eases the strain on the budget and results in more money being spent in local communities. Nottingham and Lincolnshire Credit Union want to help people break this cycle by encouraging savings and by offering affordable loans when needed.
The Credit Union is not just here to help people with poor credit, we have a range of loans products to suit most pockets and credit profiles. Loans are available from £100 to £15,000 – repayable over 3 months to 5 years. Loans are priced and assessed so that they can offer most residents at an interest rate that is competitive or cheaper than they will be offered elsewhere.
Useful tools and advice
If you’re struggling with debt, it can be hard to know where to turn. But with lots of free advice services available across the UK, you can find help in a way that’s best for you.
Free debt advice is available online and via telephone from a number of providers:
It’s important to get independent financial advice so that you can make balanced and informed decisions about your money or assets.
Looking into care and support and how to pay for it can be difficult and confusing especially if your circumstances are difficult or complex. Independent financial advisers have specialist knowledge and will be able to assess your specific circumstances and give you necessary advice.
For further information try the following web pages:
As the cost of living and energy bills rise, there are resources, support and information from the government and other providers for people who are struggling to pay their bills.
Citizens Advice provides information on Grants, benefits and other support, including Warm Home Discount, Winter Fuel Payment and Cold Weather Payment.
Households are also able to get up to £350 in cash to help with their energy bills this year. For more information and how this could help you, visit Moneysavingexpert.com
The government have also put out a factsheet which include measures to support households with rising energy bills and the cost of living.
The Energy Saving Trust have advice on how to save money on energy bills and access to help to pay energy bills.
If you are struggling to pay your bills because of Coronavirus, Citizens Advice has useful information to support you with this.
Further useful resources and information can be found on the Cost of Living Support page upon Connect to Support.
Tesco are running a scheme called Reconnect until 2023 and it is aimed at vulnerable and disadvantaged people. A phone is supplied to the customer with three months credit.
You submit your request by emailing tescomobile.littlehelps@tesco.com referencing Tesco Mobile Reconnects, how it would benefit the person and what device is needed and they will send one out.
For more on the scheme and the Tesco partnership with Crisis visit tescomobile.com.
Help to Save is a savings scheme for low-income earners. Savers can deposit between £1 and £50 a month into their account and will receive a government bonus– even if money has been withdrawn. Savers will earn a 50 pence bonus for every £1 saved.
Eligible individuals can find out more and how to apply for Help to Save on GOV.UK or via the HMRC app.
HMRC has produced a video on YouTube to help customers find out more about Help to Save.
HM Revenue and Customs (HMRC) recently confirmed that Help to Save – the government savings scheme for low-income earners, which offers a 50% bonus payment worth up to £1,200 over four years has been extended to April 2025.
Residents across Boston, East Lindsey and South Holland are to benefit from more than £7.2 million of funding to improve the energy efficiency of their properties. The South & East Lincolnshire Councils Partnership, which consists of Boston Borough Council, East Lindsey District Council and South Holland District Council, has been awarded this to deliver the next phase of Green Homes Grants awards (known as 'Sustainable Warmth') to private homeowners and landlords across the sub-region.
Funding between £5,000 and £25,000 will be awarded to properties to undertake energy efficiency improvements such as loft, cavity, underfloor, external/internal wall insulation, low-energy lighting upgrades, solar panels, draught-proofing and low-carbon heating measures such as air or ground source heat pumps.
To be eligible for the grant, households must have an Energy Performance Rating of E, F or G and a household income of less than £30k. Once eligible, an independent assessor will survey each property and make recommendations based on its energy performance.
Working with residents to save them money on their utility bills while also helping them to reduce their carbon footprint.
For further information visit Local Authority Delivery Scheme.
Household Support Fund
Funding has been made available to County Councils in England to support those most in need to help with significantly rising living costs. Local Authorities have discretion on exactly how this funding is used within the scope set out in the national guidance. It will be used to support households in the most need particularly those including children and pensioners who would otherwise struggle with increasing energy, food and water bills. Visit gov.uk for further details.
Estimate how the National Insurance contributions change will affect you
Use this gov.uk tool to get an estimate of how the changes to National Insurance contributions will affect you.
Eligibility for Council Tax Support
Information and support can be found by visiting the Housing and Independence at Home
If you receive Housing Benefit or the Housing Element of Universal Credit you maybe eligible for a discretionary housing payment, for more information click Housing - Apply for a Discretionary Housing Payment – City of Lincoln Council