Rise in numbers seeking help with finances

THE number of people seeking help with financial problems in Kerry has increased by a third, a support body has revealed.

Jerry Doyle, co-ordinator of the Kerry Money Advice and Budgeting Service, reported 570 new referrals during the nine-month period January to September this year.

He described it as a 33% rise on the same period last year.

“We’re extremely busy and we expect that situation to continue. There will be a lot of people with problems due to the economic downturn,” he said.

Mr Doyle, based in the service’s Tralee office, said people were losing jobs and being put on short-time, while many part-time jobs and overtime opportunities were also disappearing.

“Our service is aimed mainly at people who are on social welfare, or low wages, and who find they are in a difficult financial situation they cannot manage themselves,” he explained.

Mr Doyle said people need to shop around for the best value whether they are purchasing goods or borrowing money.

“People need to ask themselves if they really need the item they are borrowing for and, very importantly, if they can meet the loan repayments on a regular basis.”

If the answer to such questions was “no”, he said people would be far better off not to take out a loan.

High interest rates were being charged by moneylenders, credit card companies and other financial institutions, he added.

Credit unions in Kerry and the Money Advice and Budgeting Service have joined forces in a campaign called, Keep the Wolves from the Door, to help people low on cash coming up to Christmas.

They have also published a survival guide outlining services offered by the budgeting service to people on low incomes.

The Money Advice and Budgeting Service has a free and confidential service.