1. What is Financial Capability?
Financial capability is the combination of attitude, knowledge, skills, and self-efficacy needed to make and exercise money management decisions that best fit the circumstances of one’s life, within an enabling environment that includes, but is not limited to, access to appropriate financial services.
Put more succinctly: Financial capability is not just what you know, but whether you have the willingness, confidence, and opportunity to act.
2. Services we can offer to help make you financially capable
Through gaining information from our Financial Inclusion Officer or talking to the multiple agencies we have co-working agreements with, we can help you strive to make your financial wellbeing more achievable.
From simple budgeting skills to debt advice or applying for an affordable loan though the Cambrian Savings & Loans facility there are many ways that we can help. Below are examples of other ways we can help.
Applying for a Home Warm Discount Grant - For winter 2015 to 2016, you could get £140 off your electricity bill through the Warm Home Discount Scheme. The money isn’t paid to you - it’s a one-off discount on your electricity bill, usually between September and March
Applying for a Discretionary Assistance Fund – The Discretionary Assistance Fund (DAF) has been set up by the Welsh Government and is managed by Northgate Public Services working in partnership with The Family Fund and Wrexham County Borough Council.
If you are having problems because you have not received a benefit, you may be able to ask for an advance payment of benefit.
DAF will provide grants in the form of:
- Emergency Assistance Payments to help in an emergency or when there is an immediate threat to health or wellbeing, and
- Individual Assistance Payments to help people to remain, or begin, living independently in the community.
Managing a Bank Account - If you’ve had difficulty opening an account with a bank or building society, a credit union current account could be a good option for you. Credit unions are also popular with people who prefer to manage their money through a not-for-profit organisation.
Switching your utility provider – This can be one of the most effective, and simplest, ways to save money in your household – particularly if you have never switched before.
Best ways to save money on shopping - For many of us, shopping takes up a large chunk of the monthly budget. Whether you’re looking to save money on food shopping, or trying to cut the cost of your online buying, we’ve a few tips to help you keep costs low.
3. Drop-In sessions available through our offices
Every Monday – 9am to 2pm - Citizens Advice Bureau – Holyhead Office
Every Tuesday - 9am to 12pm – Cambrian Savings & Loans – Llangefni Office
Every Thursday – 9am to 3.30pm – Cambrian Savings and Loans – Holyhead Office
Bi weekly Friday – 9.30am to 3.00pm – NEST Cymru – Holyhead Office