Common Sense Tips For Those Struggling To ‘Make Ends Meet’

Bills are coming due and prices are not coming down. How are you fixed to cope with a difficult year ahead? Below are some common sense tips for those on low incomes that might help this year:

1. Download a ‘budget planner’ from www.tools.nationaldebtline.org/yourbudget/ and write down what your income is and what you actually spend money on. Many people still do not take this first step in managing their money.

2. Check your entitlement to means-tested and/or disability-carers benefits. Go to www.citizensadvice.org.uk/benefits/benefits-introduction/what-benefits-can-i-get/, or ask for a benefit check at your nearest Citizens Advice (CA).

3. If you are in particular difficulty, you may be entitled to charitable support. Try www.turn2us.org.uk in the first instance or, again, consult your local CA office.

4. If you have debt problems, get free expert advice from your local CA office; or contact www.nationaldebtline.org/ or www.stepchange.org/ or, for general advice, go to www.moneyhelper.org.uk/en.

5. When spending your limited income several tips may seem obvious but bear restating. Shop around for better deals, don’t auto-renew policies without looking at the competition first, and don’t expose yourself to scams by taking up opportunities which look “too good to be true”. Try websites like www.moneysavingexpert.com/ and see how much money you can save if you can devote some time to being a savvy shopper.

6. With utilities in particular - water, electricity and TV-Internet-Broadband - ask your current providers about ‘social tariffs’ (i.e. discounts for those on low incomes), metering and payment methods. Social tariffs could save you hundreds of pounds a year.

7. On the biggest expenditures, like rent and mortgages, there are always measures that can be taken however difficult your circumstances may seem. The key is not to accept defeat or look for help from short term high-cost lenders such as Buy Now Pay Later (BNPL) options or, worse, illegal lenders (‘loan sharks’). If you feel you have no choice but to borrow money, go to www.findyourcreditunion.co.uk/, find your nearest Credit Union, and consider contacting them.

8. Minimum Wage and National Living Wage rates are going up from April, as will rents and other essential living expenses. Make sure, if you are claiming means-tested benefits like Universal Credit, that you notify them of any changes in your income or housing costs; it will prevent you from being subject to an underpayment or recoverable overpayment.

9. For older readers, especially those who have had several jobs over the years, now would be a good time to make sure you have all the details of any forgotten occupational pensions you might be able to benefit from in retirement. Go to www.moneysavingexpert.com/savings/how-to-find-an-old-pension/ for more information about ‘pension tracing’. It’s free and you could benefit from it.

10. …and finally, cost-of-living pressures are not going away for most low-income families. Checking you are receiving your legal entitlements, being a savvy shopper, being honest about debt concerns and planning ahead as best you can do all make a difference. Expert, free and confidential support is out there. You just need to make the most of it.

For self-help starter information, advice and guidance on all of the above, and more, go to www.citizensadvice.org.uk or call 0808 250 5715 to talk to a local Citizens Advice adviser.

By Ed Hodson

Citizens Advice South Warwickshire - Citizens Advice working in partnership across Warwickshire