Charity the Railway Benefit Fund (RBF) is asking people to ‘do one thing’ to improve their financial wellbeing as part of the Money and Pensions Service’s Talk Money Week. Held from 6-10 November, Talk Money Week aims to reduce the stigma around money by encouraging conversations among everyone, from families and friends to colleagues and communities.
RBF has provided financial support to current, former and retired railway staff and their dependents across the UK for more than 160 years. In the past five years, demand for the charity’s services has more than tripled, and 2022 has been its busiest year to date. On average, two people come to RBF every month because they can’t feed themselves or their families, usually after they had accessed local food banks, meaning that the RBF was their last line of support.
This Talk Money Week, RBF are urging people in rail to take a in depth look at their financial situation and take steps to improve their financial wellbeing. The charity is here to support through preventative measures such as its online tools and dedicated financial advice, as well as its grants programmes for those most in need.
A quick and easy way to improve financial resilience is through visiting the RBF website. The charity has a range of tools available to support current and retired workers with financial wellbeing. Its Financial Health Assistant provides a free and quick financial health check, available to all railway people and their dependents. Its digital tools from MoneyHelper provide assistance with budgeting, savings, universal credit payments and other financial situations. These tools are accessible 24 hours a day, free and quick to use.
For those in more complicated situations or in need of debt advice, the charity can also help. Through its partnership with Citizens Advice Manchester, RBF can provide free and confidential, general and specialist debt advice. The service is offered over the phone or email with an experienced debt advisor. The advisors will work with you to come up with action plans, negotiate with third parties, and provide a benefit check and budgeting advice with every referral.
Furthermore, RBF’s trained caseworkers are able to offer advice and signposting for a range of financial issues, including benefits, pensions and utility bills. The charity encourages people to reach out before they are in a last resort situation. Jo Kaye, CEO of the RBF, commented:
“While debt support has previously been a significant part of its support, it was unprecedented in 2022, particularly for rent and mortgage payments. The debt cases are more complex as the cost-of-living crisis has plunged people into unsustainable financial situations. We encourage everyone in rail to take some time to check their financial wellbeing and ‘talk money’. For many of our beneficiaries, it only takes one unforeseen payment for financial difficulties to get out of hand.”
Visit the RBF website to use their range of financial tools: www.railwaybenefitfund.org.uk/tools
To discuss your financial resilience in complete confidence, email [email protected] or call 0345 241 2885
