Cost of living

We hear about of the Cost of Living crisis every day and hear stories of how it is affecting everyone in some way or another.

Here at Citizens Advice Portsmouth we are working with our national colleagues providing stories and information from those people in our local communities that evidence the problems and damage the high costs are causing. One particular area of the Cost of Living Crisis that is increasingly affecting communities nationally is that of 'negative budgets'.

A negative budget is when the money needed to cover outgoings exceeds the money coming in, leaving a shortfall weekly or monthly. For some the costs of rent and utilities is enough to tip them over into a negative budget status, that's before feeding themselves and their family and providing those other essentials that we all need in our day to day living.

This may be a temporary situation and will resolve itself in a few weeks or so. However, for some it may be a situation that is unable to be resolved and the deficit continues to grow and grow and with it the amount of debt and the associated costs of that debt and could culminate in the loss of a home or an essential service.

Citizens Advice is interested in talking to people about their budgets. We can provide support in the areas of budgeting and money advice and your story could help in the future of money advice in Portsmouth.

If you want to get in touch, please contact [email protected]