Managing your money

Managing your money

Keeping on top of your finances can be a challenge at times. It's hard sometimes to work out what’s coming in and what’s going out.

Spending time with your personal adviser to go through your income, costs and plan a budget as part of your pathways plan can be helpful and a good way to stay out of debt.

Your personal adviser can support you with:

  • budgeting
  • help you to understand the bills
  • how to manage your home
  • keeping a record of the different bills and utility accounts
  • noting contact details for the different providers

How to budget

We will give you support with budgeting your money and help you learn how to budget and live independently.

We can also offer you a finance education course to give you a bit more support whether this is through Multiply or through a local community or hub session.

Watch a video on how to budget for beginners from Money to the Masses.

How to manage rent and bills

You will need to use your own money to pay your own rent and bills. This might be from a job, receiving benefits or a bit of both.

Ask your social worker or personal adviser for help understanding your bills like:

  • mortgage or rent
  • electricity and gas
  • Council Tax
  • water
  • home insurance
  • food
  • broadband/phone
  • TV licence
  • TV subscription and WiFi subscription
  • mobile phone bill

How to track your spending

Make sure that you keep a close eye on your bills and work with your personal adviser to review them.

As time goes by, you’ll find that most of them will increase and before you know it, you’re paying extra per month.

Spend the time to sit and plan your budget spend so you can keep track of the money coming in and out, so you know what you have for other items such as clothing, travel and social and leisure money.

One way to track your bills is by keeping a simple spreadsheet. However, you do need to remember to update it.

You can also get help from:

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