One of the first things to do when you are experiencing problems with your finances is to get an overview of your finances. We work in partnership with the Money Advice Service, StepChange and Turn2us to help you assess your own personal situation.
Good money management can mean many things, from living within your means to saving for short-term and long-term goals, to having realistic plans to pay off your debts.
Setting up a budget
If you want to get on top of your finances, a budget is a good way to start. Set up and maintain a record of money coming in from things such as wages, pensions or benefits and payments that you make such as your rent or mortgage, insurance and council tax along with other living expenses. Make sure you include one-off expenses such as car tax, Christmas presents etc.
You can set a budget up by using a spreadsheet on your computer or just write it all down on paper. If you have a computer you can find online budget calculators such as the Money Advice Service Budget Planner or you can call them on tel. 0300 500 50 00.
Check where your money goes
If you find you’re spending more each month than your income the next step is to look more closely at where your money is going and where you can cut back. Even small amounts for things such as magazines, sandwiches at lunchtime or takeaways can add up. Try making a note of what you spend for at least a month including small purchases. If you can do this for longer then you will get a fuller picture of what you spend your money on.
Don’t forget to cancel direct debits for subscriptions or policies you no longer want or need.
For free impartial advice, based on your circumstances take the 60 second debt check.
StepChange are experts in helping people to manage and repay their debts. They offer tailored advice and practical solutions to help you make a fresh start.
Check your benefits
You may not be receiving all the benefits or grants available to you. We are working in partnership with Turn2us, to help people in financial hardship gain access to welfare benefits, charitable grants and other support services. This is a free and impartial service.
Financial support from GroceryAid
We may be able to help you with your money worries.
We can support you with a short-term financial crisis. You can apply for a crisis grant if you experience an unexpected emergency, a change in circumstances or a sudden gap in income. Our non-repayable grant can cover a variety of emergencies.
If you have at least ten years’ service and we feel you require support over a longer period of time, we may visit to consider how we can best help.
Find out how to apply for help from GroceryAid and download our Application Form.