Household budgeting can be a real challenge. There are so
many ways in which we receive income and spend our money. It is not
surprising that many people struggle to keep track of their money
and often end up paying out more than they need. Money problems are
a cause of real anxiety to many people.
However, whatever your circumstances, taking a close look at
your finances is a very good first step to giving you the
information you need to help you to make the best choices for
you.
There are a number of agencies that can help you with this - see
the list at the bottom of the page.
Help yourself:
- Make a list of all your income and all your commitments
- Decide what you need most
- Decide what you can do without. Think about making different
spending choices. For example, use money off vouchers, shop
around, changes brands
- If you can, walk or cycle rather than drive. Not only is
it cheaper, you will benefit from extra exercise and reduce your
carbon footprint
- Get help with debt - you should always turn to your creditor or
your bank in the first instance
- Don’t ignore bills. If you are struggling to pay, contact
your creditor. Banks, utility companies, and other
organisations often have schemes to help
- Beware of loan sharks: These are illegal money lenders that
take advantage of vulnerable borrowers. They use very high rates of
interest which means you may face demands for payment of much more
than you borrowed and can often never pay off the loans. Borrowers
who fail to pay or refuse to pay are often subject to intimidation
and physical violence.
Trading Standards officers have joined with colleagues in
Halton, Warrington and Merseyside to crack down on illegal
money-lending, rooting out loan sharks and bringing them to
justice.
If you have information to provide, go to the Shop a Shark page.
Useful links: