Tadley Citizens Advice Bureau is to host a Money Advice Project aimed at those who have retired. Funding comes from Barclays Bank as one of a small number of such projects throughout the country.
Welcoming the initiative, Sir George said that it was a paradox that the more Government did to help the finances of those who have retired, the more advice people needed to understand it.
"We have constructed a complicated tax and benefit structure, which baffles MP's as well as those it is designed to help. This project will help folk find a way through the maze."
In the picture with Sir George are Linda Harvey, (Your Money Matters Adviser for Help the Aged) Gerry Mahaffey, (Territory Director for Help the Aged) and Karen Richardson, (Barclays Branch Manager at Tadley)
This is the Press Release put out by Barclays
Help the Aged and Barclays, accompanied by Sir George Young, the MP for Hampshire North West, today (22 June 2007) launched ‘Your Money Matters’ the new, free money management and debt advice service for Tadley’s over 60s at the Ambrose Allen Centre.
The ‘Your Money Matters’ programme in Tadley will offer free essential money management and debt advice, with an aim of targeting financial exclusion and improving the skills, confidence and financial situation among the 176, 541 older people living in income deprived households in the South East region1.
Speaking at the launch Sir George Young, the MP for Hampshire North West said: “It’s fantastic for the older people of Tadley that Help the Aged and Barclays have joined forces to bring their new money management project to this area.
“Older people often find it hard to access information and advice appropriate for them, and the Your Money Matters project will provide basic money management and debt advice in a form that’s accessible and tailored, in a familiar location.”
Gerry Maheffey, Regional Territory Director South for Help the Aged said: “There is a serious lack of money management advice addressing the specific needs of older people.
“We’re thrilled to be launching the Your Money Matters project in Tadley and invite local older people and their carers to come along to a group awareness session to find out more on money management, debt advice, or other areas of banking which can be a barrier to older people.”
Julia Husband, Barclays Head of Community Relations said: “Launching this programme will enable Barclays employees to use their skills and experience to make a real difference in our community.
“Like many of us, older people can sometimes feel overwhelmed by financial pressures and Your Money Matters is a friendly, accessible service designed to ease that pressure and help them with any money management concerns they may have.”
Four group-awareness sessions, run by Barclays volunteers and open to all older people, will take place each month at various locations in and around Walsall. These sessions will promote impartial financial literacy in a range of areas, from opening a bank account and basic budgeting, to understanding chip & pin technology, raising awareness of financial abuse and debt advice.
These sessions can then be followed by one-to-one meetings, either as home visits or through appointments at drop-in centres to provide a comprehensive advice service. During these tailored sessions, clients will be given confidential money management and debt advice by a trained debt advisor to develop an action-plan based upon their needs. These will include preparing debt repayment plans, budgeting advice and advising on benefits entitlement where appropriate. It will not include financial or investment advice.
Your Money Matters in Tadley will be based at the Citizens’ Advice Bureau. For more information about the Your Money Matters programme, contact 020 7239 7564.