Welcome to Money Advice & Budgeting Services (MABS)

MABS is a service of Enterprise Credit Union who provide free, confidential and impartial debt and budgeting advice to members of the communities of Knowsley, Liverpool and St Helens. The advice comes from specialist debt advisors who are M.I.M.A certified and qualified to complete most specialist areas of money and debt advice.

About Us

Enterprise Credit Union - Money Advice and Budgeting Service aims to provide people with the support, skills, information and education which will directly help people budget and deal with debts and allow them to take control of their finances.

We help people with all aspects of managing money, not just debt. The Face to Face service is available to anyone living or working in the Knowsley, Liverpool & St Helens Boroughs of Merseyside who are members or potential members of Enterprise Credit Union.

Our services:

Enterprise Credit Union Money Advice and Budgeting Service

What is MABS

We have been helping people to get back on their feet for many years and have a proven track record of offering a fantastic service to our members. We offer a free budgeting service which could help you increase your income or decrease your spending.

Taking the time to manage your money a little better can really make a difference. Starting with small adjustments, if you shop around you will be surprised by the savings you can make on your household budget. Small changes lead to big savings.

We now offer a free financial health check which consists of the following:

  • Income Maximisation
  • Benefit Entitlement
  • Budgeting & Savings
  • uSwitch Information

Our Values

We are firmly rooted in the heart of the community and its values are core to all of its working practices.

MABS is committed to providing quality and inclusive financial products to the community it serves. We strive to provide our clients with an excellent, fair and transparent service in a friendly and professional manner.


Our Work

MABs aims to provide people with the support, skills, information and education which will directly help people budget and deal with debts and allow them to take control of their finances. Our specialist debt advisors can help with:

  • Personal Budgets
  • Income Maximisation
  • Debt Management Plans
  • IVA & Bankruptcy

Using MABS

We help people with all aspects of managing money, not just debt. The Face to Face service is available to anyone living or working in the Knowsley, Liverpool & St Helens Boroughs of Merseyside who are members or potential members of Enterprise Credit Union.

Contact us

We can help with

Budgeting

To plan a budget is the first step anyone wanting to get to grips with their finances should do.

A budget will show you exactly what you've got coming in, how much you're spending and how much you've got to deal with your debts.

When you know what you've got left, we can give you expert financial advice on what solutions are available to help you

Why budget

A budget can help you see where your money is going on a daily basis. You would be surprised how the little things add up.

Many people don't realize that they spend more than they earn and slowly sink deeper into debt every year

How to budget:

To get started on your budget, you'll need to work out when and how much you spend on:

    • Household bills
    • Living Costs
    • Financial Products
    • Family and friends
    • Travel & Leisure Costs

      Working out your budget

      Decide if your budget will be monthly or weekly. Either is fine but don’t mix the two.

      If you have joint finances with someone else, then fill in a budget sheet using both persons income and spending.

      Help & Advice

      If you're not sure where your finances stand, you need to add it all up. The specially-designed spending dairy available in the next section can calculate your genuine annual budget and then tell you exactly how much more you spend than you earn. If you need help or advice with debt or savings you can contact us on 0151 292 5022 or email info@knowsleymabs.org for further details

      Contact us

      We now offer a free financial health check

      Help & Advice

      Find out if your finances are in a healthy state and get some tips for a healthier financial lifestyle by dropping in for a free financial health check.
      If you need help or advice with debt you can contact us on 0151 292 5022 or email info@knowsleymabs.org for further details

      Contact Us

      MABS Spending Diary

      Free Download

      Are you in debt?

      There are many different reasons for experiencing debt such as relationship breakdown, long term sickness or loss of employment, but recognizing that you are experiencing difficulties is the first step towards resolving the problem.

      Dealing with Debt

      The important thing is to act as soon as possible and not bury your head in the sand. The sooner you take action the sooner a solution can be found.

      Fact Sheets

      You can download helpful fact sheets on many types of debts and money topics from:

      National Debt Line Fact Sheets

      • The most important matters to deal with first are those that will affect you the most. For example, rent, mortgage, council tax, fines, fuel, hire purchase, food & clothes, travel, particularly if it is essential for getting to work and Benefit overpayments. These types of debts are the first ones you need to take action or seek advice about.

      • Other debts such as personal loans, credit cards, doorstep collectors, payday loans, old fuel providers, telephone bills etc. are not such of a priority. Often these are the creditors who will contact the most and pressurize you to pay. The action these creditors can take for non payment are not as severe as a Priority creditor. For example, county court action. However, it is important that you also take action to deal with these as soon as possible.
      • Be aware that creditors cannot take court action to recover a debt if it is more than 6 years since contact from yourself. (Twelve years for mortgage arrears)

      What to have ready

      To get the most out of our Debt advice, it's useful to have the following details:

        • Details of all your debts and income
        • Your household bills
        • Approximate values of assets

        Help & Advice

        If you're not sure where your finances stand, you need to add it all up. The specially-designed spending dairy available in the next section can calculate your genuine annual budget and then tell you exactly how much more you spend than you earn. If you need help or advice with debt or savings you can contact us on 0151 292 5022 or email info@knowsleymabs.org for further details

        Contact us

        Income

        Are you getting the benefit of all your income? There may be ways to increase your income or reduce the cost of spending.

        For example; are all the adult members of your household contributing towards the household costs?

        Below are some links that maybe useful

        • Use uSwitch website to see if you can reduce the cost of your Gas, Electricity, cheaper Home telephone or Mobile phone, Home contents Insurance, Life Insurance or Car Insurance etc.

          http://www.uswitch.com/
        • Check with your local council i.e. Liverpool, St. Helens, Knowsley, to see if you are entitled to Council Tax reduction, Housing Benefit, Free School Meals, bus passes for children.

        • Contact United Utilities to see if they have any schemes available to help reduce the cost of your water bill and for information about water meters.

        • Switching from one credit card to one offering 0% on balance transfers means you will be paying off the bill and not paying interest provided you finish within the time given.

        • For information about the credit cards, 0% balance transfer deals and bank accounts, check out the following link:

          https://moneysavingexpert.com

        Help & Advice

        You should never pay for debt advice, there are agencies who will give you free advice. MABS can assist or help you to deal with it yourself. Our service is free, confidential, impartial. If you need help or advice with debt you can contact us on 0151 292 5022 or email : info@knowsleymabs.org

        Savings

        Putting some money away regularly is the best way of saving up for expensive things, like a holiday, car, Christmas. It can also be a good way of making sure you have money to pay for emergencies such as needing to replace an expensive household item, car repairs.

        Ways to save

        There are many different ways to save here are just a few to help you decide which is the right one for you.

        Saving with the Credit Union

        Saving with a credit union: well as you may guess this is our favorite way to save as MABS is a service of Enterprise Credit Union. Credit unions are regulated just like the banks and building societies but they focus on improving the financial wellbeing of their members rather than the profits. Benefits of Credit Union savings;

        • Free life cover on saving currently up to £10,000 (subject to terms and conditions).
        • Dividends for savings.
        • A savings protection scheme is in place to the benefit of the member up to £75,000 through the FSCS.
        • There are no hidden transaction charges or fees

        For more information about the benefits and joining, please visit Enterprise Credit Union

        Can I afford to save and how much?

        Before you start saving, it’s important to take a good look at your finances to work out how much spare money you have to save. You will need to have an accurate picture of exactly how much you spend to find out if you can release any extra money to put into savings.

        Savings calculator

        Use the savings tool to help you understand how long it will take to save a specific amount, or how much you need to save to have enough by a particular date.

        To use the tool click here

        Bank and building society savings accounts

        There are numerous banks offering saving accounts and using a comparison website can be a good way to find what suits you. Some accounts will offer Interest return on your saving but remember to check the terms and conditions and they may be periods of notice required before you can access your savings.

        You could also check out some of the products on offer from National Savings and Investments, which are guaranteed by the Government

        Clear your Debts First

        If you’re in debt it's far better to pay off debts before starting to save. The interest on your debts is much higher than the interest earned on savings so pay off your debts with your savings and you're much better off.

        Individual Savings Accounts (ISAs)

        A ISA – or individual savings account - is basically just an account that pays interest tax-free, as opposed to savings accounts on which you would pay tax such as fixed rate bonds, notice savings accounts and easy access versions. You may have heard of cash NISA too, which simply stands for new individual savings account.

        What is a cash ISA allowance?

        Each tax year you get a fresh ISA allowance. In the 2015/16 tax year you have an ISA allowance of £15,240, which can be held in cash or stocks & shares in any combination you wish.

        For more information on ISA follow the link to the GOV UK website

        https://www.gov.uk/individual-savings-accounts/overview

        Money Facts

        If you're in debt or need money advice you aren't alone. For budgeting and money advice contact is on 0151 292 5022 or email : info@knowsleymabs.org

        21
        21 million people in the Uk are struggling with their bills
        13
        13 million people couldn't cover essentials for a month if their income fell by 25%
        21.8
        21.8 million people in the UK aren't confident they are saving enough to cope with a rainy day
        21
        Over 21 million adults in the UK do not have a household budget

        Credit Score

        Did you know you can access your credit score for free? Your credit score is an indicator of your creditworthiness and can give you a better understand your current credit position. Its good practice to take time to manage and boost their credit score and not just when you are looking to get mortgages, credit cards and loans. A poor credit report can affect mobile phone contracts, car insurance, bank accounts and more.

        We would recommend free for life registrations like those listed below and although they will offer you credit cards and loans that you may qualify for it’s a good way of finding out information that credit providers have access to. You may wish to opt for a pay monthly subscription but as we are all about saving money and budgeting at MABS then we think trying the free versions first is a good shout!

        Callcredit's Noddle - Completely FREE for life

        Callcredit provides free-for-life monthly reports through its Noddle service,

        NEW Clearscore Free access to your monthly Equifax credit report

        Provides free Equifax scores and reports, updated once a month Clearscore doesn't need any bank details from you to sign up, other than the name of the bank that your account is with.

        It can locate your personal record from your full name, bank name and security questions, so it doesn't ask for any credit card or other account details.



        Help & Advice

        You should never pay for debt advice, there are agencies who will give you free advice. MABS can assist or help you to deal with it yourself. Our service is free, confidential, impartial. If you need help or advice with debt you can contact us on 0151 292 5022 or email : info@knowsleymabs.org

        Meet The Team

        One of our main values is to care about the people we help and ensure you have the debt and budgeting help you require. Our team of qualified advisors and volunteers are trained to listen and understand your situation. Our advisors are highly experienced and will help you gain control of your finances.

        The Money Advice & Budgeting Team

        Volunteers

        Contact Us

        Our service is free, confidential, impartial. We help people with all aspects of managing money, not just debt or budgeting. The Face to Face service is available to anyone living or working in the Knowsley, Liverpool & St Helens Boroughs of Merseyside who are members or potential members of Enterprise Credit Union.

        We are open for drop-in Monday – Thursday from 9am -1pm and 1:30pm to 3pm. No appointment required but can be arranged on request.
        You can also telephone or email us. Call in or Contact us by info@knowsleymabs.org or call us on (0151) 292 5022.

        Get advice now

        Email us for money advice