Financial Capability Week
During financial capability week, CAP’s own Daniel Kelly spoke at a workshop about debt and relationships with Relate and The Pensions Advisory Service.
In the most recent survey it was found that 64% of CAP clients had borrowed from friends or family to pay a bill. This implies that almost two thirds of clients had relied on their social network to help them pay a bill. Often tensions can grow upon missed payments to friends or family, which demonstrates the corrosive nature of debt on relationships. CAP’s debt service offers a befriender, a volunteer who plays no part in the debt advice, but offers a listening ear and additional support to encourage the client along the difficulty journey out of debt.
CAP understand the importance of relationships to help people struggling with debt and poverty. Community, peer to peer support and relationships are crucial in developing financial capability. CAP Life Skills has been designed to incorporate an aspect of Community Time. This has transforms the budgeting process from an individual activity to a group journey, where members can offer support to each other and build confidence and develop money management skills.
Communication within relationships is a crucial aspect of being able to maintain a budget across a household. CAP Life Skills also looks at building healthy relationships, involving boundaries, so parents and spouses fell equipped to say ‘No, we cannot afford that.’ Cooking healthy food on a budget is another aspect of CAP Life Skills that allows households to develop long-term skills that help to improve quality of life and money management.
Spotlight on CAP Life Skills
Run as a community group meeting each week, CAP Life Skills looks at the wider issues surrounding money management. This includes relationships, health and wellbeing (e.g. cooking on a budget) and organisational skills. Members can also take part in one-to-one coaching sessions to build a budget that will work for them in practice with the support of their CAP Life Skills coach. The groups aim to empower and support members to live financially healthy lives through developing the confidence and decision-making skills they need to survive on a low income.
For more information about CAP Life Skills click here
Spotlight on CAP Money
The CAP Money Course is a free course that teaches budgeting skills and a simple, cash-based system that works. In just a few weeks, you will get to grips with your finances so you can budget, save and prevent debt.
Whether you feel pretty organised or whether it's like a lucky dip every time you try to withdraw cash from your account, the CAP Money Course will help you take complete control of your finances. There are hundreds of courses run throughout the country each year, along with specific courses for students, youth and kids.
“I heard about the CAP Money Course from a friend who went on the course. I wanted to pay off my credit card and stay out of my overdraft. It changed my life! I never thought it could be so easy, but the CAP Money system is so simple.”
Annie, CAP Money Course delegate