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A new way of banking

last modified  13/02/2013 19:00 PM

London Community Credit Union is looking to launch in Tower Hamlets a brand new product designed to help people budget for their monthly incomings and outgoings.

Informally known as a 'jam jar' account, these accounts distribute your money when it is paid in, into separate pots which assist you in planning how much you have to spend to meet your different commitments, from gas and electricity, rent, food, clothing and so on. You can set up as many jars as needed to suit your circumstances.

LCCU is currently piloting this scheme in Tower Hamlets, and for a limited number of our residents EastendHomes will meet all the costs of operating an account. During the pilot applicants will receive all the support they need. With the Government's drastic reforms and cuts to welfare benefits due to accelerate from April, this could be the perfect time to get help with your finances.

For more information on this scheme and how EastendHomes can help you get set up call 0207 517 4704 and see the poster below (click to enlarge).