Southampton City Council urges people to open up about personal finances in support of Talk Money Week 2021

Southampton City Council is taking part in Talk Money Week, an annual awareness campaign coordinated by the Money and Pensions Service to encourage everyone to open up about their money and pensions

• Talk Money Week (8-12 November) encourages people to have more open conversations about their money and pensions
• Talking about money is more important than ever to support recovery from the financial impact of COVID-19
• To get more people talking money, Southampton City Council in partnership with Advice in Southampton Services will be running a local campaign promoting information, resources and services

Held from 8 to 12 November, Talk Money Week aims to reduce the stigma around money by encouraging conversations among families, friends, neighbours, customers, colleagues and communities. Talking openly about money can have a huge impact on tackling money worries and is important for our overall health and relationships. The impact of Covid-19 has made it more important than ever to start conversations about money to look after our financial wellbeing.

Talk Money Week is also an annual opportunity to celebrate the work organisations like Citizens Advice Southampton are doing to support the long-term UK Strategy for Financial Wellbeing, launched by the Money and Pensions Service (MaPS) in 2020 with support from stakeholders across the UK, which has ambitious ten-year goals to help everyone make the most of their money and pensions.

Cllr Spiros Vassiliou, Cabinet member for Communities, Culture & Heritage comments: “It’s important that we all feel that we can talk openly about money as part of our everyday lives. Not only can this help to build financial confidence, but also the resilience to face those unexpected life events such as changes to income.

“In Southampton, we’re fortunate to have many organisations through the Advice in Southampton partnership, and our own Southampton City Council teams that can help with issues on a whole range of topics, from debt and benefits to employment and housing. The support is there, for those who need it so please reach out and talk to someone.”

Advice in Southampton is a partnership of local Advice, Information and Guidance services funded by Southampton City Council. The partnership is led by Citizens Advice Southampton and includes services for children and young people, older people, and specialist services for asylum seekers and refugees, people living in fuel poverty, and children and young people with special educational needs and disabilities and their families. Each year the partnership supports around 15,000 local residents to resolve their problems.

The Advice in Southampton partnership has recently launched a series of videos on Youtube. The Money Advice Bitesize videos are a collaboration between Southampton debt and money advice services. Each interview features a local debt adviser, who answers some of the questions people might have about getting help with their money. Topics include how to know when you need help, what to expect from debt and money advice, choosing a debt advice provider, and how to prepare for money advice.

Liz Donegan, Chief Officer of Citizens Advice Southampton adds: "Talking about money can help us feel less stressed and anxious, and more in control of our finances. With cuts to Universal Credit and increasing energy prices, many people will be feeling a squeeze on their finances - so talking about money is now more important than ever. 

"If you're worried about money, speaking in confidence to an adviser can help you learn how to reduce your energy bills, claim benefits you're entitled to, and deal with any debts. Each year our services help thousands of people like you to improve their financial situation. People who come to us say they feel much better once they've spoken to someone about their money worries, so rest assured you are not alone."

Caroline Siarkiewicz, Chief Executive at the Money and Pensions Service says: “As we continue to respond to the challenges of the COVID-19 pandemic, financial wellbeing remains key to the UK’s recovery: a financially healthy nation is good for individuals, communities, business, and the economy. Talk Money Week provides a key opportunity for the nation to break the taboo of discussing money and finances. We are pleased to see so many organisations encouraging conversations about money - from pocket money to pensions - to help people across the country make better informed and more positive decisions about their finances.”

The government has recently announced a new household support fund (HSF).The council is currently working with partners, to develop a package of support for those most in need to help them to meet the cost of food and other essentials over the coming months.

If you need help with money and debt there is free, confidential and local advice available to help you.

Find out more about Talk Money Week