PREPAID CARDS

Prepaid Credit Cards for Unemployed

Christmas is not set to be merry for almost a quarter of a million people who have been unemployed for more than a year.

Recent analysis by the Trades Union Congress (TUC) showed more than twice as many Brits have been on the doll for over a year than who were at the starts of the recession.

Many will be spending their second or third successive Christmas out of work.  At the close of 2007 there were 117,845 claiming Jobseeker’s Allowance (JSA) for more than 12 months, this figure in November 2010 is 243,330.

If you have been unemployed for a while, or are worried about being made redundant following public sector cuts, try using a prepaid credit card to budget your money to attain the most secure financial platform as possible.

The number of people unemployed outnumbers the amount of vacancies available by more than five to one across the whole of the UK – this rises to 20 to one in some employment blackspots, with the prediction from the TUC that this will worsen in the New Year.

“While many families with working adults may  be tightening their belts a little this Christmas, the thousands of long-term unemployed households will be anxiously juggling their family budgets,” said Brendan Barber, TUC general secretary.”

“For those about to lose their jobs and those who’ve been out of work for some time looks especially bleak.”

Prepaid Credit Cards

If you do not have a regular income coming in every month, or you are limited with the money you receive from JBA, it is even more vital to make sure you manage this money carefully.

You do not have to have a job or even a good credit history to be eligible for a prepaid money card as the card does not allow you to spend over the amount you loaded onto it.  This is why it is a good tool to use to prevent overspending.

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