Helping employees with budget shocks.

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HR Grapevine, asks Jonathan Watts-Lay, Director, WEALTH at work about the steps employers could take to help their staff cope with the increased cost of rail tickets. He responds; “Many people don’t have an alternative to taking the train, so it is an emotive issue. But they can also experience budget shocks in other areas such as council tax, bills or their mortgage.”

He suggests that employers offer money managing workshops to help employees cope with such events. “We’ve been asked a lot more about budgeting and money management. As an employer, you can help your staff to see areas that they could save money in – for example, by shopping around you can usually save money on your car insurance or utility bills.”

“While employers can help, at the end of the day it is up to the employee themselves to make the necessary changes,” he adds.

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