The cost of living crisis in the UK is making it harder to keep up with regular bills and expenses. At MoneySuperMarket, we’re here to help you manage your finances. Here are some expert tips to help.
Step 1: Look into budget with MoneySuperMarket
Tracking your income and expenses will help you see where your money is going, and identify areas where you could spend a bit less. Our Five hacks to help you budget better guide has hints and tips that could help you make your money go a bit further.
Check to see if you can make a saving on your household bills, such as your car insurance, mortgage, and broadband.
You may also find some great saving tips from MoneySavingExpert.
Step 2: Reach out to your providers
Don't be afraid to ask your providers, such as utilities companies, insurers and credit card companies, for help if you're struggling to pay your bills; you may be able to get a better deal by speaking to them. Many companies also offer hardship programs or payment plans that can make managing debts easier.
Step 3: Use financial assistance programs
Find out what financial help you might be eligible for, such as universal credit, working tax credit, and child tax credit. You may be able to get extra support to help manage your finances.
Step 4: Seek professional help from charities and organisations
If you're feeling overwhelmed by your financial situation, consider reaching out to a financial advisor or debt counsellor. Charities such as StepChange and Citizens' Advice can provide free and impartial advice to help you manage your debt and finances.
More information and helpful resources
There are some great organisations who may be able to help.
Money Talks - Offers first-hand money experiences, expert guides and tips on how to have conversations about money and how to make it easier to ask for support if you need it. - https://www.moneysupermarket.com/moneytalks/
For practical advice and one-on-one help with debt or legal matters, there’s Citizens Advice (https://www.citizensadvice.org.uk/).
There’s also great support available for debts with StepChange (https://www.stepchange.org/) and National Debtline (https://www.nationaldebtline.org/).
You can also visit the MoneySavingExpert forum for further help in relation to debt problems
You can also ask questions to trained debt advisors from StepChange via the MoneySavingExpert forum
If you’re feeling overwhelmed and want to you can call, email or text the Samaritans – don’t worry it's totally confidential. You can call on 116 123, text 07725 909090, email jo@samaritans.org or find out about one on one help at Samaritans.org (https://www.samaritans.org/how-we-can-help/).
You can also speak to someone or find further information within the support guides at CALM: https://www.thecalmzone.net/get-support