Plymouth CAB is delighted to launch a report which looks at the impact of providing money management skills to people who struggle to make their finances work for them.

This work has been possible with support from RBS and Toynbee Hall in London, who have been taking the lead in pro-actively promoting financial inclusion and money management skills. The report examines how Plymouth CAB has provided added value to their debt advice work by embedding financial capability skills as part of the process.

Ann Kinahan, Director of Plymouth CAB said ‘This report illustrates the importance of preventative work which the CAB has been doing now for over four years. This has involved working with small groups of people or on a one-to-one with some helping them to budget better and understand where savings can be made such as switching energy or mobile phone companies’.

Even though we are all in a difficult economic climate there have always been some people who have never been shown how to manage their money. Sometimes this is because they have never had very much but more commonly it is because they cannot differentiate between the important bills to pay such as energy, rent/mortgage and council tax and those which are non-priority such as money owed to doorstep lenders, credit and charge cards, unsecured loans, etc. Few people today save money for emergencies such as a washing machine breaking down, or their car needing an urgent repair and if circumstances change such as losing a partner or a job or their health deteriorates then they may not know where to turn.

Over 6,000 people in Plymouth visit the CAB every year for help and approximately half of these seek help with their finances. We have been taking a ‘whole’ approach to their financial problems. Some need money advice to help resolve their debt problems. For others we are able to increase their income by claiming benefits or applying for grants to help out in emergencies. Some are referred by us to an independent and impartial financial adviser who is there to help them consider which services they could benefit from and the questions to ask before paying for a service. There are many people in Plymouth who do not appreciate the benefit of using a credit union and we encourage them to join one so they can save money by borrowing money with the lowest rates being charged.

Steve Meakin, Chair of the Institute of Money Advisers said ‘This is an invaluable piece of work which evidences the good work done at Plymouth CAB by making a real impact on peoples’ lives in Plymouth.

Note: Ann Kinahan can be contacted on 01752 507709 or by e-mail on This e-mail address is being protected from spambots. You need JavaScript enabled to view it