Managing Money

Budgeting

Managing your finances can seem like a bit of a juggling act at times, and it can be hard to keep track of where your money goes. A good first step when tackling money worries is to draw up a budget plan so you know how much you have coming in each month and what it gets spent on. Budgeting can also be extremely useful when trying to work out how much you can afford to spend on a big event, such as a party or wedding, or when thinking of moving house or starting up on your own.

Typical Costs of Running a Home

When you first decide to move out and set up your own home, it can be both an exciting and a scary time. Our guide gives some advice on what to expect and how to deal with it so you can feel confident that you are fully prepared for the move.

Increase your Income

After completing your budget, you may find that you are spending more money than you have coming in, or that you could just do with a little more cash to help make that new car or dream holiday a reality. Firstly, you could look at ways to increase your income, for instance you may not be claiming all the benefits you are entitled to, or perhaps you could use some advice on finding work. This section is here to help.

Utility Bills and Affordable Warmth

The rocketing price of energy bills recently has been a headache for many people. Bills are one area of your spending where it may seem there’s not much you can do – there’s no getting away from the fact that the electric and gas has to be paid. However, putting a couple of hours work into looking at your tariff and possibly changing supplier can be easier than you think and could save you hundreds of pounds. For some the cost of heating their home has risen to the point where it is unaffordable. Those who are forced to spend more than 10% of their income on heating their home are classed as being in ‘fuel poverty’ and may be eligible for government help.

Top Money Saving Tips

Whilst looking at your budget, you might find that along with increasing your income there may be areas of your spending where you could make some savings. In this section we include some top tips you’ve given us at MiNT events that you’ve found really work when you’re out and about on the high street.

Managing Stress

Feeling under pressure due to money worries can be extremely stressful and have a really negative effect on your mental wellbeing. It’s important that you take time to look after yourself, and these tips can not only help you remain fit and well, but some could do wonders for your bank balance too!

Consumer Advice

Going shopping can sometimes seem like quite an ordeal, with advertising and pushy sales people trying to sell you all sorts of products that you don’t need or even want. So, how do you avoid wasting money, find out about the best deals and what your rights if things go wrong?

Debt Handbook

Most people accept living with a certain level of debt as a condition of living in a society which seems to run on credit. However, debts can easily begin to slide beyond your control and you may have concerns about how much you owe and your ability to manage the repayments. If you do find yourself in serious debt, it’s important not to bury your head in the sand or things will only get worse. It can be difficult to know where to start when facing up to debt problems that’s why we have created our Debt Handbook. This will talk you through how to work out what you owe and what you can afford to pay back.

Games and resources

Looking for ways to keep your children entertained and teach them about money management skills? This is a great list of our top financial games on the web for kids (and big kids) to enjoy!