Coastal Credit Union Working With PHP

Coastal Credit Union working with PHP 'Your Money' in Keeping Your Head Above Water

Rising fuel bills, electricity, food, mortgage rates, credit card bills, Christmas... ever wonder if there is a better way to manage your money? Well there just might be...have you thought about these simple budgeting steps?

Income
Make sure you know how much you are earning each month, and don't take overtime and tips for granted. If appropriate, make sure you are receiving all the benefits you are entitled to. Your local Citizens Advice Bureau or Budget Coach can help with this, see the contact details at the bottom of this page.

Saving and Budgeting
Think about the expenses coming up in the future, and adopt a "jar on the mantelpiece" approach. Coastal Credit Union can help you put small amounts of money by, to help you afford larger expenses, like car insurance or Christmas.

Have a realistic view of your expenses
For a month or 6 weeks, keep your receipts for everything you spend, including incidentals like mobile phone top-ups, petrol or shop bought sandwiches. Don't forget to budget for Christmas and birthdays, these expenses often get put on the credit card and are forgotten about. A free Budget Coach from your local area could help you with this and many other issues.

Keep the costs of borrowing down
Find out how much interest you are going to pay over the whole term of any proposed loan. If you are borrowing from a doorstep lender, a £300 loan could cost you £150 in interest over one year! With Coastal a loan for £300 would cost you £30 for the same period. Unpaid credit card balances are also an expensive financial burden as the interest drags on over years if you only make the minimum repayments. A low interest loan could reduce the interest you are paying, and provide a tangible end to your repayments.

Coastal Credit Union is working in partnership with FREE Budget Coaches in your area who can make sure you are able to make the most of your money and help you reduce your expenses. We are a not-for-profit organisation aiming to help everyone in the community. We're open at the back of the Co-op in Ashley Road 11am-1pm on Tuesdays, Thursdays and Saturdays.

Contacts
Coastal Credit Union 01202 718018 or 01202 566878 (Head Office)

Citizens Advice Bureau 08707 510937