By Myles Fitt
THE past 12 months have been incredibly challenging, with unprecedented changes to our normal way of life.
These changes are expected to impact on personal and household finances in a way that hasn’t been seen since the 2008 financial crash. For many, the impact is already being felt.
Whether people have suffered a job loss, are self-employed and have seen customer numbers dwindle, or have been placed on furlough or had to reduce hours, it’s been a particularly uncertain time.
The pandemic has meant that many people who previously were on a stable financial footing, are now finding themselves in the position of facing uncertainty around their money and requiring support. In addition, many of those who were already struggling financially have got into further difficulties.
To help people face these challenges Citizens Advice Scotland has created the Money Map tool. Since its launch late last year, more than 70,000 users have visited the site at least once and we have been supported by the Scottish Government in promoting the site to as many people as possible.
The tool brings together the many ways that people can maximise their money, from benefits and grants to budgeting and tips on reducing bills. It provides any related eligibility information and signposts people to websites where they can get more information.
It’s free, anonymous, easy to use and is a one-stop shop for anyone seeking support and information about the financial support options available to them.
We know that for many people, it may be the first time they’ve found themselves in this position and it can be hard to know what support is out there.
The tool helps to minimise the stress of trying to find support through search engine browsing by bringing all the information and support together in one place. It has a useful customised list function that means users can save the support options that are of most use to them, allowing them to maximise their money.
From ensuring you’re not overpaying bills to setting a suitable monthly budget, the tool can point in you in the right direction to resources that can help.
Similarly, it can also show you how you can make sure you’re using things like the correct tax code or how to access grants you’re eligible for, taking the stress out of searching the internet for a trustworthy source of support.
The Money Map can also guide users to the appropriate online benefit checkers to make sure they’re getting all they’re entitled to which we know can be a huge help when it comes to meeting needs like housing, childcare, disability and illness payments.
Ultimately, the tool is there to help anyone who is facing financial struggles and could benefit from some extra support. We know that it’s an incredibly challenging time and hope that the tool can ease the financial worry.
No matter your circumstance in 2021, I’d urge anyone looking to improve their financial situation to think Money Map and visit moneymap.scot to help maximise their finances.
Myles Fitt is Head of Financial Health at Citizens Advice Scotland
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