How To Budget
Nobody likes to budget do they?
We all stick our heads in the sand and imagine that our money worries will disappear if we ignore them. Sadly, this is not true!
Budgeting is not rocket-science, but the first step is to acknowledge that you have a problem and need to address it.
Then you have to look at your income and outgoings – all of them!
It’s no good listing the regular things like rent, mortgage, council tax, gas and electricity – and ignoring the stuff that only comes along now and again … like going out for a coffee, new tyres for the car or the more occasional groceries like laundry powder and cleaning materials.
Your results won’t be realistic and you might end up overspending and getting into even more debt.
Be realistic about your finances and you’ll end up with a workable plan.
If you are on Benefits, you may have heard of Universal Credit?
New Benefit Claimants have been receiving Universal Credit (UC) for some time, but from October 2017 it will start to affect existing claimants in our area. Universal Credit replaces a whole load of benefits including Jobseekers Allowance; Housing Benefit; Working and Child Tax Credits; Employment & Support Allowance and Income Support.
The big changes are that UC is paid monthly in arrears, so you have to wait a full month before receiving any money, and for most people it will not pay rent directly to your landlord - you have to do this yourself, but we can help you.
We have a Rent Scheme in place to manage rental payments and make sure you don’t fall behind.
We can help you prepare for these changes and make sure the changeover goes as smoothly as possible for you.
We have a great team of advisers who can help you.
They have dealt with hundreds of people facing the same difficulties and will be sympathetic and supportive. We have a Budget Account and a Debit Card which can help you plan your spending and make sure those essential bills are paid on time.