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Let's talk about money!...

This week is "Talk Money Week" organised by the money and pensions service.

The aim of the week is to get people to open up and talk about their finances and this year the campaign is asking people to simply "Do One Thing" to help to improve their financial wellbeing.

So what one thing could you do?

Maybe you could check through all of your financial paperwork, bank accounts, pensions, investments, shares etc to make sure you have your up to date contact details on them all.

Perhaps you could go through all of your direct debits and standing orders to check whether you are still paying for something you no longer need? Magazine subscriptions or a gym memberships for example.

You could use one of the free online tools or calculators here to check that you are claiming everything you are entitled to.

If you have a renewal coming up then check on a price comparison site for savings on things like pet, home or car insurance.

On that subject , do you know when your renewals are all due? Some insurance policies automatically renew at a much higher premium and it can be easy to miss the emails. Keep a note on your calendar or phone for approximately 3 weeks before the renwal date to give you time to research more favourable options.

Is there something you would like to save for? a holiday, some new furniture or just a rainy day? Use a budget tool (here is one from Money Helper) to help you manage your finances and put something aside each month.

Start to talk to your child about money, If they are little maybe play shops with them or when out shopping let them pay the shop keeper in cash and help them to check the change.

For older children why not set them up with a bank account and debit card or sign up for a pre-paid card which allows them to have a bank card but also allows you monitor what they are spending their money on via an app. These cards do usually incur a monthly fee so do your research to find the best one for your situation. Money savings expert has some guidance here.

One other thing you can do is to check that you home is as energy efficient as it can be to keep those winter fuel bills down. Head over to our blog People at Work's tips for winter wellbeing for some handy tips.

And finally if you are falling behind with payments for example on a credit card, loan, council tax or hp agreement then take steps to start to tackle it. Burying you head in the sand will not make it go away and the quicker you can get on top of things the better. Citizens advice can give you advice or you can contact StepChange the debt management charity about a debt management plan.

Talk to a People at Work first responder and find out how we can be part of your wellbeing support. 020 3286 1545

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