Preparing for the Autumn Budget

With so much speculation at the moment about what the Budget announcement will mean for us all, we asked Eleanor King, Managing Director at Ian King Financial Planning Ltd, to share her thoughts. 

Aaahh, the Autumn…a time for standing by the window with a mug of hot chocolate, watching the leaves fall and wondering how many mince pies you can eat before the month of December…or…a time of worrying about how you’re going to afford the kids Christmas presents this year and how long you can manage before you put the heating on.

This year, perhaps, comes with more uncertainty than previous years with the hype surrounding what changes the new Labour Government’s Autumn Budget will bring…how will your parents/grandparents afford to pay for heating if their Winter Fuel Payments are taken away? Will there be further reductions or even increases in State Benefits for those with children? Will the tax-free element of pensions be removed? Will the State Pension become means-tested?

Whilst we do not know what changes the Government will bring, we do know that the best way to manage the changes will be to keep on top of your household budget…monitor the money you have coming in and going out, and look for those areas where you can make savings…knowing what you do or don’t have left at the end of each month is powerful and you can choose what you do about it. Do you need to cut back? Do you have some spare money that you can save for the long term or for your Christmas presents before the December panic?

Here at Ian King Financial Planning Ltd, we have an online budget tool called the Budget Extender that can help you to do just this. If you wish to try it out, all you need to do is visit the Ian King Financial Planning website, go to Contact Us, and send us your name and email address with ‘Help Me to Save’ in the message. We also have a handy video on our YouTube channel that tells you how you should fill in this tool to maximise its use here.

The Autumn Budget is on the 30th October. Look out for the changes, especially those that may affect you. I would however caution you to choose your source of information carefully! Trusted sources like the BBC and the Government website are the best ways to keep up to date. Ignore the other noise.

As quoted by Ned Stark from The Game of Thrones, “Winter is truly coming. And in the winter, we must protect ourselves, look after one another’.

Don’t bury your head in the sand by watching too many box sets this Autumn, keep up to date with the changes and remember the importance of your own household budget.

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When I left the Military, I had problems in my marriage and was a victim of domestic abuse. I totally lost it and turned to alcohol. The Carpenter’s Arms were willing to take me on and knowing they were signed up to The Armed Forces Covenant was a big thing for me. I have grown with the programme, and I have now got self-worth. I wake up every morning thankful. I’m blessed.

Brian, resident

As a magistrate, I see the devastation of addiction to a person’s life, as well as their family and friends, when they end up in the Court system. The Carpenter’s Arms offers an opportunity, strategies and support to face and overcome addiction, and turn people’s lives around. It offers people hope at their lowest ebb to gain self-confidence and self-worth which are invaluable gifts.

Mrs Henrietta Chubb JP, High Sheriff of Leicestershire

I got out of prison on the 14th of December 2017 and went straight to The Carpenter's Arms and felt the labels go. My first clean test in 24 years felt amazing. I had never seen my little girls through clean eyes. It was overwhelming! All the victories that were coming for me just for being in this place.

Garry, resident

I’ve known The Carpenter's Arms now for several years and it's great to see the way in which they have grown. What they've done in terms of supporting the defence community has been extraordinary. They show such great enthusiasm and such an ability to reach into people's lives.

Bruce Spencer, MoD Employer Engagement Director for the East Midlands

Before my arrival at the Carpenter's Arms, I was lost in a very dark place, haunted by past memories, suppressed by the use of drink and drugs. A local Christian charity recommended The Carpenter's Arms and I was thrown another lifeline and my hope was restored. My spirit, body and soul have been renewed, and I have re-established family connections and built bridges I once burnt.

Bradley, resident

The Carpenter’s Arms is one of our alliance charities working in the area of addiction. We draw on their understanding of what's going on, and their work and solutions for people living with addiction. It helps support our policy and working forward to sustainable living and aspirations in life after addiction.

Steve Meadwell, Regional Manager (Midlands), Centre for Social Justice

I have been suffering from mental health for over 10 years and was addicted to crack, cocaine, cannabis, and steroids. My life was unmanageable. My life has changed completely and I’ve been able to see my son again. I was lost and broken and now I am blessed. I am now a House Dad in phase 3 and I’ve been put on the Pathways as a Support Worker.

Blake, resident

I'm the trustee of the Carpenter's Arms and, this year, I’m also the Mayor of Charnwood. I first met Brian and Judith when I was a Magistrate Chairman of the Drug Rehabilitation Committee. The most rewarding experience was when I finished sitting on the bench and watched the amazing successes at The Carpenter’s Arms in capacity as a trustee. To sit and listen to the clients tell their stories, what they have done and how they have come out the other side with new beginnings, I think for me is the most rewarding. The court couldn’t do it, but The Carpenter's Arms did.

Councillor Margaret Smidowicz, Mayor of Charnwood and trustee of The Carpenter’s Arms

After years of hard drug addiction and causing a lot of pain and suffering for myself and my loved ones, I walked through the doors of the Carpenter's Arms. In the space of a few weeks, I started to see and think more clearly and within months my life had changed drastically for the better. I can't thank the Carpenter's Arms enough for giving me a second chance at life.

Marcus, resident

I've been an alcoholic for 3 years. Whilst it has been a challenge at The Carpenter's Arms, I have been clean for 1 month, have more energy and motivation to do things. A routine has helped me a lot, as well as being able to be around people which has helped me speak more easily. I am excited to go back to work and see my family more.

Rob, resident

I was a broken man after 16 years addicted to heroin and crack, with no confidence or self-worth. Through coming to the Carpenter's Arms, I have been able to break free from my addiction, have learnt how to love myself, how to treat others and how to deal with everyday life without drugs. I am now happily married with 6 beautiful kids and have had a job for the last 6 years.

Scott, resident