Call for more access to financial services for Travellers

Research by the National Traveller Money Advice and Budgeting Service says members of the Traveller community experience much higher levels of financial stress than the settled community.

While similarities were identified between members of the Traveller community and the settled community in relation to planning and keeping a note of spending, researchers found Travellers more likely to employ certain budgeting techniques. When they explained how they dealt with an income/expenditure shortfall, half of the respondents said they borrowed or drew on savings of some sort. Some said they went without food, to make sure a bill was paid.

When it came to financial attitudes and behaviour, Travellers were more likely to see money as there to be spent now rather than saved for the future. The disparities are particularly pronounced when it comes to pensions, investments, mortgages, credit cards, savings accounts, and stocks, shares and bonds.

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