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Budgeting support: Best practice ways to help low income households

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Over one fifth of UK households have less than £100 in savings to cushion themselves against economic shocks. With Christmas gone, frontline organisations anticipate more money related enquiries from people in need as they seek support with their household finances. 

In our first webinar of 2019 we talk to Marie Hardeman from the Guinness Group to hear what budgeting support they give to their tenants.

With Donna Gallagher and Peter Carter, from Policy in Practice.

To find out more visit www.policyinpractice.co.uk, call 0330 088 9242 or email hello@policyinpractice.co.uk.

Published in: Government & Nonprofit
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Budgeting support: Best practice ways to help low income households

  1. 1. Policy in Practice Budgeting support: Best practice ways to help low income households Wednesday 23 January 2019
  2. 2. Housekeeping • Audio check • Please ask questions • Polls, downloads and a survey • Finish by 11:30
  3. 3. Speakers Donna Gallagher Policy in Practice Marie Hardeman Guinness Peter Carter Policy in Practice
  4. 4. Agenda Introducing Policy in Practice Personal debt: the size and nature of the problem How Guinness Group help their tenants manage their money Software that can help Questions & answers with our speakers
  5. 5. We make the welfare system simple to understand, so that people can make the decisions that are right for them
  6. 6. 777www.policyinpractice.co.uk Poll: What do you find are the main causes of debt for your customers?
  7. 7. 999www.policyinpractice.co.uk Over to Donna
  8. 8. Debt: the scale of the problem • 8.3million estimated number of over-indebted people in the UK • 22% of UK adults have less than £100 in savings • 40% of reported debt problems in 2017-18 relating to debts owed to government, up from 21% in 2011-12 • £248 million, NAO estimate the minimum annual cost to public purse • £15 billion total outstanding mortgage arrears in 2018 • £18 billion estimate of personal debt owed to government, utility companies, landlords and housing associations • 4 in 10 estimated proportion of people in UK who cannot manage their money well day to day • 600,000 estimated number of people who need debt advice but are unable to access it Tackling problem debt, National Audit Office, August 2018
  9. 9. Proportion of debt problems reported to Citizens Advice, by debt Type
  10. 10. Unsecured debt per household rose to £15,400 in the third quarter of 2018. This was a rise of £890 on a year ago. A rise in unsecured debt in 2018
  11. 11. Total unsecured debt has risen to £428 billion. At 30.4% of household income, this is higher than before the financial crisis Unsecured debt as a share of Income
  12. 12. Triggers for problem debt • Redundancy • Unemployment • Illness and disability including mental health issues • Debt consolidation • Divorce/separation • Benefit changes (benefit cap, LHA, 2 children limit, self-employed) • Gap in benefit income (wait for UC, wait for WCA, sanctions) • Persistent low earnings - changes in employment structure - Freezing of working-age benefit support The key message from all research around debt is that most households are not protected from accumulating debt if they face a trigger situation
  13. 13. Supporting people to manage money Detrimental to people’s wellbeing – increase of stress, anxiety, time off work and relationship breakdown Debt is often hidden Problem debt negatively affects housing situations Debt needs to be controlled, split and prioritised Importance of lifting the debt burden Difference between Debt and Budgeting advice Range of support available for residents such as maximising income and completing income and expenditure
  14. 14. 161616www.policyinpractice.co.uk Poll: What are the main challenges your customers face when trying to budgeting?
  15. 15. 181818www.policyinpractice.co.uk Over to Marie
  16. 16. GUINNESS CUSTOMERS TECHNOLOGY
  17. 17. HOW CUSTOMER EXPERIENCE CUSTOM ER CONTAC T CENTRE CUSTOM ER LIAISON SERVICE CUSTOM ER ACCOUN TS CUSTOM ER SUPPOR T CHOICECONVENIENCECONTROL
  18. 18. OUTCOMES CHOICECONVENIENCECONTROL 55,752 38% / 62% 29,243 1,640 100% 86% DEVELOPMENT FEEDBACK
  19. 19. WHAT NEXT? SELF SERVE ASSISTED SERVICE ENGAGEMENT CHOICECONVENIENCECONTROL
  20. 20. WHAT NEXT? SELF SERVE ASSISTED SERVICE ENGAGEMENT CHOICECONVENIENCECONTROL
  21. 21. 242424www.policyinpractice.co.uk Over to Peter
  22. 22. 252525www.policyinpractice.co.uk Questions from the audience
  23. 23. Stay updated via our newsletter
  24. 24. Next steps Download Benefit and Budgeting Calculator flyer Download Example of household who’s situation has stabilised Short survey: • We value your feedback • Ask questions or clarifications • Request a look at our work and products Sign up to our next webinar: Data analytics: Who’s missing out on benefits in your area? Wed 20 Feb 2019 at 10:30
  25. 25. www.policyinpractice.co.uk Thank you Donna Gallagher donna@policyinpractice.co.uk Marie Hardeman Guinness Group Peter Carter peter@policyinpractice.co.uk hello@policyinpractice.co.uk office 0330 088 9242

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