A new campaign aims to help people "Stay on Top of Your Mortgage". The Consumer Financial Education Body (CFEB) plans to help people understand and manage their finances better. CFEB's campaign aims to help consumers stay on top of their finances so they know their options and can plan ahead should interest rates or their personal circumstances change. Interest rates have been at record lows for some while. Although there is uncertainty about when this will change, many people with mortgages haven't thought about what it would mean for their monthly payments if their rate was to go up. The campaign encourages people to spend just five minutes working out what an interest rate rise would mean for their finances so they can plan ahead. (From Scottish Federation of Housing Association's Digest). Further information is available at: http://www.moneymadeclear.org.uk/.Moneymadeclear reviewed by Jackie Morrison, DPHS(F) Co-ordinator: The Money made clear service gives you impartial information and guidance about your money to help you work out what's right for you. They won't sell you anything and don't recommend specific products or providers. Moneymadeclear is brought to you by the Consumer Financial Education Body (CFEB). With sections for example on "Every Day Money" "Budgeting" "Renting a home" "Redundancy" etc it is a very informative site.
THINK AHEAD - STAY ON TOP OF YOUR FINANCES!!!
Finance looks to be a challenge to us all in the months and years ahead. Never mind the possibility of an increase in interest rates (see above) which will affect those with a mortgage who are used to budgeting for a low or fixed rate. What about the effect on our daily spending with the VAT rate changing in January 2011 - this will impact on our daily spending. Also there are changes being discussed to Housing Benefit and this is likely to have it's first effect on those who rent in the private sector. Planning ahead and working out a budget is the best way to stay on top of things and the web site above has an easy to follow budget planner on it.
If you disagree with the proposed changes to Housing Benefit and Local Housing Allowance awareness is being raised by Shelter Scotland and the Chartered Institute of Housing of the effects this will have. They rightly point out that tenants in the private sector (those who rent from a
private landlord) are often hardest hit financially as rents are often set higher than Housing Benefit to start with. In addition Shelter and CiH are likely to lobby government to say that cutting benefit is one thing that will have an adverse knock on effect resulting in potential homelessness
for some - whilst more new affordable social rented housing (Council and Housing Associations) is not being built at the rate needed even for now, never mind the future. If you want to have your say sign up to the newsletters and keep an eye on the web sites and that way you can ensure you fill in any petition. DPHS(F) feels strongly that those who rent privately have often had to do this as a last resort after waiting too long for an appropriate property to meet their need and are already usually paying a higher price for it. If Housing Benefit and Local Housing Allowance cuts result in savings, DPHS(F) we feel that this should be directly re-invested back into socially rented housing programmes to start to meet the need for the future. We will keep you up to date via the newsletter and website of any campaign or petition that arises in the future.
From the Disabled Persons Housing Service (Fife) August Newsletter 2010
www.dphsfife.org.uk/ |
