Finances

FINANCIAL MATTERS

The CSEAS was delighted that Declan O’Brien, of the Public Service Friendly Society (PSFS) agreed to deliver a presentation on how the society helps to support civil servants financially and the benefits of joining the society. The CSEAS enjoys a long working relationship with the society. About the Public Service Friendly Society (PSFS)

Financial Stress Management

As with life in general, sometimes we can experience challenges in the area of finances. Most people can cope with most of the financial pressure points that may arise. However, occasionally there will be a confluence of events that make it harder for us to manage our finances. It is at times like this that we can benefit from a plan, or maybe advice from somebody with expertise in the area. If we leave tight financial situations unattended it may lead to problems in the future. What’s more, the nagging anxiety of financial difficulties can lead to mental and physical health issues.
When facing financial difficulties it is particularly important that we take care of ourselves and invest in our wellbeing, so that we have the resilience to stay well while dealing with challenges. There are three main areas where we can focus on wellbeing:

• Physical health – sleep, exercise, nutrition and hydration, breathing exercises etc.

• Social – investing in and maintaining our beneficial social relationships

• Mental health – focusing on what we can control, practicing mindfulness etc.

There is more information on health and wellbeing elsewhere on the CSEAS website. If things are getting on top of you it may be beneficial to seek support. You can contact the CSEAS during office hours on 0761 0000 30 and by Email: cseas@per.gov.ie (Appointments are available evening and weekends if required). Managing finances can be a challenge at any time so it may be useful to get some information or advice on budgeting, managing your money, and saving. There are various sources of information and advice available on these areas including from:

• The Competition and Consumer Protection Commission

• The Public Service Friendly Society

• Money Advice and Budgeting Service (MABS)

It can be a useful starting point to complete a Financial Health Check, which includes calculating your income and outgoings. You can also identify any goals you have such as paying off a particular debt or saving for an upcoming event. This can inform drawing up a budget. Savings can also potentially be made by shopping around in relation to a whole host of goods and services providers in relation to grocery shopping, energy suppliers, insurance companies etc. In this way, decisions you make about where you shop can lead to a build-up of savings.

Christmas
Christmas can be a very difficult time to navigate, regarding both finances and stress. Planning a budget in advance of the festive season can help you to stay on track. Shopping around for bargains and keeping a running track of spending can prevent slipping into debt or overspending.

If you find yourself in difficulties or debt

If you are having difficulties with your finances there are sources of support:

MABS
MABS has a team of advisors available to help people with budgeting and debts by exploring what are the best options for clients. MABS works with clients who have personal debts, including people who may have multiple debts. MABS is a free and confidential service with various offices located around the country. www.mabs.ie

Mortgage Arrears – Abhaile Scheme
Abhaile is a service that exists to assist homeowners in resolving mortgage arrears. The scheme provides vouchers for free financial and legal advice. These vouchers are available through MABS. www.mabs.ie/en/abhaile

The Public Service Friendly Society
The Public Service Friendly Society may also be able to help. The PSFS is open to new members who are Civil Servants. The cost of joining is 0.25% of salary – just 25 cent per €100 per week. A wide range of benefits are available to members and more details are available from the PSFS website
www.psfs.ie

Other information

Savings and Loans
Did you know about the Public Service Credit Union? If you are interested in regular savings, or in taking out a loan, you might be interested in becoming a member of the Public Service Credit Union. www.pscu.ie
CANA is the Credit Union for Revenue staff with over 9,000 members. www.canacu.ie

Health Plans
Check your current health care plan to ensure you are getting the best cover and value for your own personal circumstances. If you are not currently in a health care plan, perhaps consider joining a group scheme provided by your employer.

Trade Unions
If you are a member of a Trade Union you may be entitled to various financial benefits. Please consult the website of your own Trade Union for details.

 
 
 

CSEAS Resources

Managing Your Money
 
Personal Affairs Checklist

Civil Service Resources

The Civil Service Employee Assistance Service (CSEAS)

The Public Service Friendly Society

The Civil Service Credit Union

FÓRSA Trade Union

Association of Higher Civil & Public Servants

CANA Credit Union (for Staff of the Revenue Commissioners)

Brightside (for Staff of the Office of Public Works)

State Resources

Money Advice and Budgeting Service (Mabs)

Competition and Consumer Protection Commission
 
Insolvency Service Ireland (ISI)

External Resources

Instead of relying on your credit card why not try these budget calculators that our friends in the National Consumer Agency have put together? Budget calculator

National Consumer Agency