Get organised with money

Work out how much you make and spend each month to stay on top of your finances.

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Don't ignore your money worries. Money problems can get worse if they're ignored. A missed bill or forgotten payment can lead to a penalty charge, which means you owe even more.

Take one step at a time. You could find you are dealing with your money problems quickly and easily.

Get free debt advice from StepChange if you're struggling to pay your bills.

Use a budget planner

A budget planner can show you how much you spend each month and help you get in control of your finances.

Use the Money Advice Service's online budget planner to work out how much you spend each month.

Before you start, it's a good idea to get as much information as you can about your income and spending.

This could include:

  • payslips, P45s and P60s
  • benefits letters
  • mortgage statements or rent costs
  • bank statements
  • gas, electric, water and other utility bills
  • credit card bills, personal loans and overdrafts
  • other living costs such as food shopping, buying clothes and going out

The more information you can get about your monthly income and spending, the more accurate your budget will be.

Save on your bills

Review your budget and check if you:

  • are paying for services you are not using
  • could get a better deal on basics like fuel bills, phone bills and insurances
  • are keeping track of what your credit cards are really costing you

Apply for a credit check

A credit reference report can help you to keep track of your finances. Contact a credit reference agency and ask them to send you a report. Reports cost £2 each.

The three main credit reference agencies are:

Claim PPI compensation

If you’ve ever taken out a loan, mortgage, credit card, store card, or bought something on credit, such as a car, you may have been sold Payment Protection Insurance (PPI).

If you think you have or have had PPI, you need to decide whether or not you want to complain.

There is a new deadline of 29 August 2019 to complain about the sale of a PPI policy. You will not be able to complain after this date.

The Financial Conduct Authority has all the information you need to make a decision about PPI.

Visit the Financial Conduct Authority or call 0800 101 8800.

Energy cost savings

Use the Energy Saving Trust tools and calculators to find out how to make energy savings in your home.

Last updated 21 Sep 2017 | © Shelter

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