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- YOURMONEY
EXPERT
HELP
for you
BY TRICIA PHILLIPS
LONDON mayor Sadiq
Khan has said there is
a clear link between
poverty in the capital
and the rise in serious
youth violence.
It’s not just the capital,
across the UK some of the
poorest areas have the
highest levels of crime,
including Birmingham,
Manchester and Nottingham,
according to exclusive analysis for
Mirror Money.
Office for National Statistics
data shows Oldham in Greater
Manchester is one of the poorest
areas in Britain, while Home
Office data shows Greater
Manchester overall is the second
most dangerous place to live.
West Bromwich comes second
on the list of poorest places,
Walsall is fourth,
Birmingham as a whole
is fifth, while the West
Midlands region ranks
13th on the crime
hotspots list.
Nottingham comes
in at sixth place for the
poorest inhabitants,
with high levels of debt
and unemployment
and hits 11th place on
the crime hotspots list.
Financial stress has caused one
in 10 Brits to act in an uncharacter-
istically aggressive manner, while
one in eight say money worries are
the main source of conflict in their
family, putting a strain on
marriages and relationships.
Doctor Roger Gewolb, chief
executive and founder of fair loans
comparison site Fairmoney, which
carried out the research, said:
“The correlation between the
poorest areas in Britain and high
levels of violence could not be
more apparent. The lack of oppor-
tunities is abundantly obvious, but
we have also seen sinister actors
play their part that leads to an
increase in violence.
“Travelling around
the country, the tradi-
tional British high
street is transforming
quickly from retail to
lending outlets, pawn-
brokers and betting
shops. Much of the
violent crime is due to
the need for quick
access to cash.
“To have such a nationwide
endemic is testament to struggles
that Brits are experiencing and
something must be done.”
Not being able to make ends
meet means many people bury
their head in the sand as more
than one in 10 avoid opening their
mail or checking statements for
fear of the unpaid bills lurking.
One in 10 also say they cannot
afford three meals a day and
similar numbers are
forced to take out new
credit cards and loans
just to cover the
payments on their
existing debts.
People are being
forced into an endless
debt spiral as they take
out credit to keep up
on repayments on
existing debt. When things
unravel way beyond their control
and the situation gets desperate,
it can lead people into the murky
world of crime and violence to try
and find a way out.
CLEAR LINK
Sadiq Khan Correlation
between
poor areas
and violence
could not
be clearer
Poverty
is turning
us into
criminals
TAKE CONTROL OF YOUR FINANCES
How much do I have
for the month?
This may seem really
simplistic – but it is
important. You need to
know what you have
coming in and how much
your essential bills cost –
then you’ll know exactly
what you have left to spend
on the more fun things in
life. Tracking your finances
is absolutely essential.
Do I really need
this?
Impulse-buying can really
send people into a spiral of
compulsive purchasing,
and ultimately it’s not a
sustainable way to live.
Although buying nice
things, socialising and
taking holidays may bring
short-term pleasure,
spending beyond your
means can bring long-term
stress and worry.
Much better to save up
for things you want, rather
than splashing out money
you don’t really have and
ending up in debt on credit
cards or with an expensive
overdraft. Readers often
tell us that when they step
back rather than buy on
impulse on the spot, they
find they don’t really want
to spend on the item.
How much will I be
left with?
Similar to the previous
question, but an important
one. If you do make a
purchase, note it down as if
it were another bill that you
are required to pay each
month.
Take it off your current
balance, so that you know
how much you have left
to see you through the
month.
Being up to date with
your bank balance is the
best way to be mindful
of how secure your
finances are.
If this becomes a habit,
you will naturally be less
extravagant with spending.
Should I spend or
should I save?
Save, save and save! It is so
much less painful having a
financial safety net than
having to rely on expensive
credit.
You don’t have to save
large amounts. The key is
to get into the savings
habit, starting small.
There are lots of apps
that let you syphon off
spare change into savings.
Even giving up just one
takeaway coffee at £2 a
week and putting that away
will eventually build up a
nice balance.
Do I need help?
If you’re struggling to
keep up with your essential
bills and having to rely on
credit, then you should
seek advice as soon as
possible.
Don’t wait until things
spiral out of control.
For free debt help,
contact your local Citizens
Advice or StepChange Debt
Charity on 0800 138 1111 or
via stepchange.org.
Alternatively, call the
National Debtline – 0808
808 4000.