Money Advice Service Helping Low-income Scots Save Millions

A financial advisory service supported by the Scottish government has helped thousands of people around the country manage their money more effectively and save a collective total of some £6 million.

The service is aimed particularly at low-income Scots who can easily find themselves in difficult financial situations and potentially struggling to cope with their debts.

An important part of what the service has been able to do is advise people on what state benefits they might be entitled to and how they can save money on essential services.

Remarkably, official estimates are that there are currently around 450,000 cases of unclaimed benefits across Scotland, so a great many people are clearly not accessing financial support they are entitled to. 

The Scottish government has invested a total of around £3.3 million in support of the Money Talk Team over the course of the past few years.

Roughly 8,000 people have accessed the advisory service, with 3,198 having been helped and the average saving per households reckoned to be around £1,850.

Hopes are now that more people will become aware of and get in touch with the Money Talk Team in the coming weeks and months, with thousands more people potentially then being helped to deal with their finances more effectively.

The system is delivered by Citizens Advice Scotland, whose chief executive Derek Mitchell is particularly keen to see low-income households nationwide claiming the state benefits they’re entitled to.

“People should be claiming what they are due. That’s how the system works; we all pay in and get support when we need it,” Mr Mitchell said in a statement.

“With it being the start of a new school year, this is the perfect time for families to see if they are entitled to extra cash that could be paying for back to school essentials, or if they could be paying less for utilities or on council tax.”

The Money Talk Team represent a great free resource for anyone living in Scotland who is struggling with low-level debts and money worries. If your debts are higher than £5,000, contact Scotland Debt Solutions for a free consultation and a FREE DEBT REPORT which will analyse your situation and suggest the best route forward in your circumstances.