PLANS to give Southend’s older residents financial advice to cut down on care home costs have been approved by senior councillors.

Council chiefs want those elderly people who pay for their own care in residential homes to be given expert advice on saving and spending.

They hope this will mean less of those who self-fund will have to rely on council help when they run out of cash.

Members of the council’s Tory cabinet gave the plans the green light at a meeting.

Leader Nigel Holdcroft said: “I’m very supportive of this.

“It seems a cracking idea.

“For many elderly people, one of their biggest fears is that their hard-earned assets will be lost because of the care fees they will have to pay.”

By law, councils must step in when a care home resident’s savings or assets drop below £23,250.

Last year, the council had to help out 16 so-called self-funders when this happened, costing £350,000 over 12 months.

Deputy leader John Lamb added: “Some private care homes charge £700-odd a week.

“It’s a tremendous amount of money.”

The council pays between £376 and £418 a week for care home residents depending on their level of need.