How to manage your money

Before completing a budget

  • Get a bank statement of at least 1 month’s transactions to hand.
  • Note down all your current regular payments including Direct Debits

Budgeting Tool Online

Helpful tips

When planning for Christmas or Birthday spending, list down every person you buy for and how much want to spend on their present. This will help you accurately budget and should be easier to stick to. By planning in advance, you can look for any offers on presents you are going to buy anyway.

To estimate yearly costs such as car insurance or car repairs, check what your bill was last year and use that number. You may need to adjust if you know the price is going to change drastically, or you have used comparison websites to shop around.

How to save

Plan to save and ensure you have an emergency fund to deal with any surprise expenses.

Help with saving money

How to reduce your spending

  • Look for better mobile and internet deals.
  • Ensure you are receiving Council Tax Support if you are on a low income or welfare benefits.
  • Get advice if you have debt. Make a Money Advice enquiry
  • Make your food go further.
  • Turn your heating off when you are not home.
  • Pay your bills on time. Make sure you are not getting additional charges for late payments.

How to check if your income is correct?

Benefits Calculator - entitledto

Benefits Calculator - Turn2us

Benefits - Citizens Advice

Don’t forget, if you are claiming a benefit you are no longer entitled to, the DWP will ask you to pay this back if you have not let them know of a change in your circumstance.