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Are contractor accountants worried about their finances?

Are contractor accountants worried about their finances?

CABA, the Chartered Accountants’ Benevolent Association, says the accountants who contacted it for advice last year were mainly worried about unemployment and finance issues.

The charity received more than 430 calls, letters and emails from chartered accountants and their dependants in 2011. 38% of the callers wanted to talk about financial problems and a further 13% were worried about unemployment. Other common issues were ill health, mental health and carers/caring.

Kath Haines, the chief executive of CABA, said the majority of enquiries the Association receives have been prompted by the sluggish economy. Chartered accountants who have been made redundant are struggling to find another job, older members are finding they have not make adequate provisions for their retirement and others face reduced benefits after changes to government regulations.

CABA has introduced additional resources to help members with problems in these areas, Ms Haines continued. The Association provides the support they need to get their lives back on track as quickly as possible.

The charity was set up in 1886 to offer advice and training to members of the ICAEW, both past and present, and their dependants. It provides debt management and advice, career coaching, financial assistance and has a 24 hour counselling helpline.

Last month, CABA set up two new services to help unemployed accountants get back into the workplace. Workfriend, which is designed to help people brush up on their job seeking skills, and Career Coaching to help those who have been unemployed for some time.

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Image: worried sidewalk by ruffin_ready

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