Everything you need to know about “Cost of Living”

The Cost of Living crisis followed the pandemic has made life challenging for everyone. From housing to groceries, the prices seemed to climb steadily, outpacing wage growth and squeezing the budgets of families and individuals.

The housing crisis deepened, with high interest rates, skyrocketing rents and property prices making it increasingly difficult for many to secure stable and affordable accommodation.

Amidst the financial challenges plaguing the UK in 2024, Bradford District Credit Union is offering innovative solutions to help individuals avoid debt traps and access affordable financing options. Through our community-centered approach, we promote financial inclusion and resilience within the Bradford district and beyond.

Bradford District Credit Union can help you in:

  1. Building an Emergency Fund: Aim to set aside a portion of your income regularly into an emergency fund. Having a Saving account can help cover the impact of unexpected expenses or income disruptions.
  2. To find out more about our savings Accounts, click here.
  3. Seeking Financial Education: Take advantage of free resources and workshops.
  4. Preventing Debt: Through financial education, we encourage individuals with skills to make informed decisions, manage debt, and budget effectively.
  5. Low-Rate Loans: Bradford District Credit Union offers affordable loan products, reducing reliance on high-interest debt for members facing expenses. We are currently offering a £200 loan to members struggling with managing their household budgets.
  6. Sustainable Futures: By fostering savings culture and responsible borrowing, the credit union helps members build financial resilience, offering transparent and ethical lending practices.