For all of us involved in frontline support for people experiencing problem debt, it’s perhaps inevitable that we tend to focus on the most immediate priority of helping people to stabilise their most pressing difficulties. But it’s also important to recognise both the need and the aspiration of many people in debt and on low incomes to build up financial resilience for the future, including through savings.
At first glance, the idea of building up savings while being on a low income and also dealing with debt may seem impossible. Yet within the Standard Financial Statement guidelines that advisers use to determine an affordable budget for the resolution of debts, it’s possible to build in a modest amount of money to be…
