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: Create a 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.