Support with your finances

If you have money worries, it’s always best to get help and advice as soon as you can. Our specialist team can work with you on a one-to-one basis to help get things back on track. There may be solutions out there that are available to you - for example, you may not be claiming all the benefits you are entitled to, or you may need help with budgeting.

• Borrowing money affordably and safely

  You should never borrow money to pay your rent or other bills. If you have money worries, speak to us first.

  When considering borrowing money, it’s important that you spend time shopping around, researching what’s on offer and getting advice. Never borrow money to pay off existing debts, or on impulse and make sure you work out your budget.

  With a range of different options out there, it is important that you can make an informed choice based on your needs and situation.

  Who should I borrow from?

  Banks and building societies: Reach out to your bank or building society and talk to them about your financial situation. They will be able to offer advice and support, with a range of options available from personal loans to establishing overdraft limits.

  Credit unions: Credit unions provide short-term loans for small sums of money at lower interest rates than payday loans.

  Westcountry Savings and Loans are one of a number of credit unions who can  help with  short-term loans, find out more about their services here.

  Who should I not borrow from?

  Loan sharks: Don’tot borrow money from loan sharks. They are illegal moneylenders and should be reported to the Illegal Money Lending Team (ILMT). To report a loan shark in complete anonymity, call 0300 555 2222 or fill in an online reporting form.

  Payday loans: Pay day loans are often tempting when money is tight and you need a quick way to get cash, but they can come with high interest rates and fees, and it is easy to get caught in a debt trap, where you need to take out new loans to repay the old ones.

• Help with debt

  We understand how stressful it can be when you owe money. That is why we have a dedicated team of money advisors who can help with your personal finances.

  When dealing with debt, it is important to prioritise your debt to try and avoid unnecessary penalties. Our money advisors can work with you in setting up realistic household budgets, that priorities your debt and advise you on the best ways to deal with multiple debts.

  When dealing with debt remember:

  • Always keep in contact with your creditors
  • Don’t ignore letters or phone calls
  • Never feel pressured in paying something that you can’t afford?
  • Don’t wait for court action
  • It isn’t advisable to borrow money to pay off debt

  If you are looking for debt advice, contact our team today.

  Independent debt advice from other organisations:

  • Money Helper
  • National Debt Line
  • Citizens Advice
  • Step Change
  • Age UK
  • Christians Against Poverty
• Bill payments
  • As an Alliance Homes customers there are some essential things? that you need to pay to maintain your home. If these are not paid, you could lose your home. These  include:
  • Rent and service charges
  • Council tax
  • Child maintenance
  • Court fees
  • Secured loans
  • Utility bills (Gas, Electricity, TV licence, Broadband)

   If you are having trouble making these payments, contact us immediately.

• Money saving tips

  Gas and electricity prices keep rising and now present a large chunk of household budgets but there are ways to minimise this expense.

  Gas bill

  With sharp increases in gas bills, understanding how to lower your gas bill will help you to manage your finances.

  Here are some top money saving tips:

  1. Evaluate your energy bills and speak to your provider to make sure that you are the best tariff for your home
  2. Try using uSwitch or Which? to compare the market and the best tariffs

  Tips for around the home:

  1. By reducing your central heating temperature by 1 degree you can save money on your bill
  2. Close doors and shut curtains – this will help your rooms retain heat
  3. Try not to hang clothes over radiators as this reduces the ability of convection from the radiator to heat your room

   

  Electricity bill

  There are a series of government schemes which can make those most to help manage your electricity bill, if you are eligible, these include The Warm Home Discount, Cold Weather Payment and Winter Fuel Payment.

  Top tips on saving on your electricity bill at home:

  1. Use uSwitch or Which? to compare the market and the best tariffs and see if you can start saving money today
  2. Use low-energy and energy efficient light bulbs
  3. Don’t leave items on standby
  4. Maximise how you’re using your washing machine, tumble dryer and dishwasher

  If you’re in gas and/or electricity arrears see if your supplier has a charitable trust that could help.

  Water bill

  One way to reduce the amount you spend on your water bill is by installing a water meter. Speak to your water provider and ask if they can install a water metre. The metre will measure how much water you use, and your provider is likely to take a reading twice a year. Unmetered homes are often charged at a stand tariff based on the value of your home.

  Top tips on saving money on your water bill:

  1. Never boil more water than you need
  2. Always use a full washing machine
  3. Limit the length of time you leave the tap running
  4. Use a washing up bowl for dishes and fruit and vegetables
  5. Shower instead of taking a bath
  6. Reduce your flush

  If you receive benefits, you could be entitled to apply for the WaterSure scheme.

  Looking for more help with bills and one-off costs, visit our dedicated webpage here.

• Universal Credit and other benefits

  We can help you to maximise your income by claiming appropriate benefits, tax advantages or other sources of income.

  We can help you claim benefits, like Universal Credit, Carer’s Allowances, Statutory Sick Pay, Personal Independence Payments and Test & Trace support payments.

  Universal Credit is a monthly benefit that is paid directly to the person claiming benefit and includes housing costs. Universal Credit replaces the following benefits:

  • Housing Benefit
  • Income Support
  • Income-Based Jobseekers Allowance
  • Income-Related Employment and Support Allowance
  • Child Tax Credit
  • Working Tax Credit

   

  Universal Credit is normally paid monthly in arrears. You can find out more about Universal Credit by clicking here.

  You can apply for Universal Credit online via the Gov.uk website.

  See the Universal Credit FAQs for how to get help with managing the change to Universal Credit.

• Choosing the right bank account

  Choosing the right bank account for your needs can help you to manage your money, make paying your bills and debt easier and reduce your dependency on cash.

  Current account

  Allows you to:

  • Pay bills by Direct Debit or standing order
  • Receive automated payments, such as salary, wages or benefits
  • Set up overdraft limits
  • pay for things with a debit card and withdraw money from cashpoint machines.
  • Using a secure bank app to check and make payments
  • Set up messages alerts to warn you of a low balance.

  If you have trouble opening a bank or building society account, you may want to consider opening a credit union account or basic bank account.

  Credit union account

  The type of support offered is dependent on the credit union.

  Most credit union accounts will allow you to:

  • Receive wages, salary, benefits, pensions, and tax credits
  • Pay cheques in for free if they are in British pounds sterling
  • Pay money in over the counter at the credit union
  • Get money out over the counter or from some cashpoint machines
  • Check your account balance over the counter or from some cashpoint machines.

  Some credit union accounts will allow you to:

  • Pay your bills by direct debit or standing order
  • Set-up pre-paid cards
  • Offer money management support tools and saving accounts.

   

  Basic bank account

  Allows you to:

  • Set up direct debits and standing orders to pay bills
  • Allow you to pay for things with a debit card
  • Access ATMs
  • Use online or phone banking.

  Basic bank accounts do not allow you to:

  • Make use of cheque books
  • Set up overdraft limits
  • Support cashback and interest perks

   

• Springboard Fund

  If you have been financially affected by COVID-19 or are experiencing hardship because of increased rent liability, you may be able to apply for support from our Springboard fund. This fund aims to support those who have experienced lost earnings or employment, extra or unexpected costs, or are experiencing any other financial difficulties.

  The Springboard Fund is available to customers who are renting homes from us and seeking to engage in long-term debt solutions to sustain their tenancies.

  To find out more and apply, click here.

• Essential Living Fund

  In response to the increased cost of living and rent liability the Essential Living Fund has been set up to support eligible Alliance Homes residents who are struggling to manage their tenancies because of financial hardship.

  The Essential Living Fund provides one-off payments to help cover the costs of practical items such as energy, white goods, carpet etc.

  In addition to this, the Essential Living Fund has allocated funding to support mental health and wellbeing access for those who are facing a tough time right now.

  To find out more and apply, click here