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We understand that many residents may be struggling financially at the moment. The rising cost of living is making it increasingly difficult for people to manage their household bills on their existing incomes. This often results in little or even no spare income at the end of the month, to set aside for the proverbial ‘rainy day’.
So in those circumstances, what happens when there is a financial emergency? For example the car needs repairs, the washing machine breaks, there is no money for food or utilities or the children need new school uniforms etc. Unfortunately, people often resort to unaffordable lending to cover the immediate cost. This then leads to a spiral of debt whereby the repayments for such loans, leaves even less spare income at the end of the month, or possibly a deficit. More money is then borrowed to cover the deficit or future financial emergencies.
However, depending on the individual circumstances there may be alternative sources of funding available. In particular, in the form of grants which unlike loans, do not require repayment.
There are many grant funds across the UK, all with their own eligibility criteria and evidence requirements. Some relate to specific occupations, health issues or local areas. So grants may still be available for people working fulltime and/or homeowners. More information can be found on the Turn2us website here: https://www.turn2us.org.uk/
Joseph Rowntree Housing Trust also has a grant fund available to residents. Again eligibility criteria and evidence requirements apply, along with an assessment with one of our Money & Benefits Advisers. However, if successful the money would not have to be repaid and can usually be credited into the applicant’s bank account within 2 working days.
We are here to help - Money & Benefits Advice service
We offer a free, confidential and impartial Money & Benefits Advice service to all residents and staff. Advisers can assist with benefit checks, updating claims and identifying other forms of support that may be available.
To speak to an adviser or book and appointment please contact JRHT’s Money and Benefit Advice service on 0800 5870211 or at mba@jrht.org.uk.