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We’re supporting Talk Money Week

St Albans Community Bank is encouraging people in Hertfordshire to ‘do one thing’ to improve their financial wellbeing, during Talk Money Week 2023 (6-10 November).

The week is an initiative of the UK’s official money guidance organisation, the Money and Pensions Service (MaPS), and this year Talk Money Week’s theme is ‘do one thing’.

St Albans Community Bank is joining MaPS in encouraging our community to take action, and get the UK talking about money.

Here are some ideas for what that one thing could be. Remember, this doesn’t have to be big, and it doesn’t have to be only one thing, if you feel inspired to do more:

1. Join our local bank so you can get saving and have access to credit should you ever need it, as well as having access to a range of useful information about finances relevant to you.
2. Check out our Free Budget Planner on this website
3. Start a savings habit – whether or not it’s with us or another provider, putting aside even a few pounds a week, when you can, will help build up savings for a rainy day, or to go towards a special occasion
4. Use a benefits calculator to double check that you’re not missing out on unclaimed benefits income – some people find they are owed hundreds or even thousands of pounds after filling out these forms.
5. Make sure that your contact details are up to date with banks, pensions providers or other services you have. Having old contact details can make it much more difficult to get what you need from these services.
6. Look at your biggest regular expenses and consider whether you could reduce these – when did you last check if you can get a better deal on your car insurance? As winter approaches, do you know how your energy bills are worked out.
7. Cancel any unused gym subscriptions, Netflix payments or other expenses you don’t actually use
8. …and make sure to tell others about it and encourage them to take the same step!

Isabel Dolan, Chair of St Albans Community Bank, said: “Thinking and talking about money can be daunting, especially right now. That’s why we’re promoting Talk Money Week’s ‘do one thing’ campaign – if you focus on just taking one step towards improving your financial wellbeing, then it makes it even easier to take the next steps. Plus, by shouting about it on social media or talking to friends or colleagues about it, you’ll be helping make sure that as a society we are all a bit more open and able to talk about money and finances, which is a really important”.