Managing your bills
Managing money can be difficult, especially if you are on a tight budget. However, If you plan for the month ahead you will be able to manage your money easier. Here are a few simple steps to help you on your way –
- add up all the money you have coming into your household
- add up all the bills that you have to pay for that month
- think about the other things you need to buy for that month like food, toiletries etc.
You can then work out what money you have left over for anything else you want to buy or save.
If your bills are starting to pile up a good way of making them easier to understand is to keep them organised. Here are a few tips you can use to help you organise your bills easier -
- have a place where you keep all your bills and place them in a folder.
- open all your bills as soon as you get them.
- set regular times to pay your bills
- use a calendar to mark off when bills need to be paid
- if you have a mobile device, you could use the reminder app to tell you when you need to pay your bills
If you cannot pay a bill, you need make contact with the company who issued the bill straight away. Their contact details should be displayed on the bill or you can go online and search for the company's contact details.. They will then able to talk to you about setting up a re-payment plan.
Managing your debt
If you have not been able to manage your bills and are in debt, there are still things you can do. You do not have to resort to taking out a loan to pay it off and increase your debt. There are people who you can talk to, who are experienced and who give advice about managing debt.
The Citizens Advice Bureau
Citizens Advice Hull & East Riding (CAB) provides free, confidential, impartial and independent advice and information on a wide range of subjects.
Citizens Advice Bureau can help you to manage your debts; they can also assist with bankruptcy and Debt Relief Orders. (DRO’s)
Citizens Advice Bureau can improve your debt situation by giving you the right advice and information to make informed choices including –
- help to deal with your debt problems
- how to avoid losing your home
- how to get your finances back into shape
They can also provide help and guidance with filling out forms for some benefit entitlements.
Visit their Hull Officer at –
The Wilson Centre,
Alfred Gelder Street,
telephone 01482 226 859 for specialist debt advice
telephone - 03444 111 444 for all other calls
The Money Advice Service
The Money Advice Service was set up by the government to offer free and impartial money advice, they can support you with -
- Advice and guides to help improve your finances;
- Tools and calculators to help keep track and plan ahead
- Support over the phone and online
You can telephone for free and impartial money advice on free phone (from any UK landline) on 08001 387 777 Monday to Friday, 8am to 8pm Saturday, 9am to 1pm except bank holidays.
You can use an independent benefits calculator to find out what benefits you could get. They also give you information on how to claim and how your benefits are affected if you start to work.
These are free to use, anonymous, and have replaced the Benefits Adviser service.
entitledto help people determine what they can claim from national and local government via their self serve calculators. They can help you to make sure you get the financial support you are entitled to.
entitledto provide a reliable estimate of benefit entitlements based on their in depth knowledge of the UK's social security system. Using the online benefits calculators, you can determine whether you are receiving the right amount of money into your benefit claims. They can also support you to understand what your position would be as government welfare changes take effect.
Turn2us has information on –
- income related benefits
- tax credits
- council tax reduction
- carer’s allowance
- universal credit
- how your benefits are affected if you start work or change your working hours
UK Care Guide
To help you navigate through all the various private care funding options, you can also visit the UK Care Guide website which sets out the 6 main approaches that people often use to pay for care. These are typically -
- care annuities - This may be an option if you want the certainty of an income each month
- equity release - This may be an option if you own your own home
- deferred payment schemes - This may be an option if you own your own home
- renting out your home - This may be an option for you own your own home.
- using investment income - This may be an option if you have assets, such as stock and shares that generate an income
- using your savings - This may be an option if you have some savings that you can access
Paying for care and support
Understanding paying for care can often be a difficult topic for people. Knowing what options are available to you will help you make an informed choice about choosing your care package.
If you have to fund your own care, then you will need to estimate what you care will cost you. You may want use a home care provider or decide you want to move into a care home. To help you work out your care cost, you can use the Home care and care home calculator. You can find this on UK Carers guide website. This should give you an idea of what you will be expected to pay.