We are here to help in the turmoil

FIRST, I trust that you are well and withstanding the turmoil brought to all our lives by this wicked coronavirus. In this time of great uncertainty and worry, we need to look after each other like never before.

Make it your daily responsibility to send a card – or make a telephone call – to those important in your life (I’m working my way through a box of postcards that celebrate 100 years of style through the pages of Vogue magazine).

Although l ockdown seemed inevitable this time last week, it didn’t make its announcement any the easier to deal with.

My partner’s instant response was to burst into tears, a result (I fear) of the fact that she dreads the next few weeks with me invading her space – she normally works from home with only cat Pumpkin for company.

Working from home for the first time in my journalistic career has not been easy with new technology to conquer and everything taking a little longer to do.

But the fact that you are reading this column is proof that all is well in many ways at least.

I’ve even managed to go out for the odd run – and occasional cycle ride on board a bike that was trendy 20 years ago, but now looks rather passé.

The past week has not been without its ups and downs on the personal finance front.

On the up front, we’ve seen the Government come up with a more t han generous compensation scheme for the country’s army of self- employed ( my partner is among them).

Of course, a few people will fall through the scheme’s cracks while there will be inevitable frustration at the fact that payments will not start being made until the end of June (at the earliest).

But Chancellor Rishi Sunak deserves all the plaudits going for ensuring the Government’s financial safety-net to workers is as inclusive as possible. Although the stock market had a better week, it ended with another sharp fall, reminding all of us that share price volatility will remain the order of the day in the weeks ahead.

Dividend cuts abound – bad news for those who rely on these payments to part support retirement i ncome – and more wil l be announced in the days ahead.

Also on the down front, banks – rarely our friends these days – have hardly covered themselves in glory. Although it’s good that they have stepped back from introducing onerous overdraft charges – fees resulting from crass intervention in the market f r om t he Fi nancial Conduct Authority – they need to do more to assist those with debts.

For example, interest charges on uncleared credit card balances should be cut – preferably so they are aligned with a Bank Base Rate that stands at 0.1 per cent.

Interest in the high teens is simply indefensible.

I can’t currently get online access to my bank account – and spent two hours trying to get through to customer services last week. In the end I gave up.

On Friday, when I did establish contact, they asked me what my balance was. When I said I didn’t know because I don’t have online access, I failed ‘security’. Frustrating.

If you have any personal finance queries you want us to answer, please email me. As ever we’re here for you. Around the clock.