Get your finances in order during Talk Money Week

11 November 2020

The impact of the Covid-19 pandemic has made it more important than ever to talk about our personal finances, says the chair of West Midlands Police Federation.

Jon Nott is encouraging members to consider their finances during Talk Money Week, which started on Monday (9 November).

“The pandemic has had a huge impact on so many areas of our lives, particularly the economy and our personal finances, that it feels more important than ever to talk about our money,” he said.

“Police officers may not have faced being furloughed, losing a business or being made redundant but that does not mean they may not have seen the money coming into their household significantly reduced through a spouse or partner’s employment being affected,” Jon explains.

“By talking about our finances, we can make better financial decisions which, in turn, can make us feel less stressed about money and more in control. For example, have you made sure you are with the right energy, broadband or mobile phone provider? Could you get a better deal? Or, are you paying out for insurance cover that you actually get through being a member of our Federation Group Insurance Scheme?

“Talk Money Week is a good opportunity to review your finances and, if you are struggling financially, perhaps this is the point where you could talk about your situation before it gets worse. The Federation is here to help and can put you in touch with a number of organisations that can offer professional and confidential advice.”

Talk Money Week is a campaign by the Money and Pensions Service (MaPS) which aims to improve financial wellbeing by encouraging people to open up about their finances.

MaPS is sponsored by the Department for Work and Pensions and brings together three financial guidance bodies: the Money Advice Service, The Pensions Advisory Service and Pension Wise.

To mark the week, Police Mutual has produced a free factsheet for members to help break the stigma of talking about money and debt issues.