FINANCIAL WELLBEING

Helping everyone do better with money

Budgeting

Budgeting is something we must all deal with and can be a challenge for many. Some of us in the group have had to learn how to live on a tight budget and these are some of our money-saving hints, tips and advice to help you keep on top of your expenses and make your money go that little bit further!

When starting to look at your finances, it is important to start with an individual Budget Plan. This will help you see exactly how much money is coming in and going out of your account every month. There are downloadable versions, and we have included one here for you to see. budgetprintout.pdf (moneysavingexpert.com)

Things to include in your budget plan are:

  • Payslips/Benefits.
  • CSA payments.
  • Bank statements.
  • Credit card statement.
  • Store card statement.
  • Receipts for cash payments.
  • Direct debits.
  • Standing orders.
  • Utility bills.
  • Mobile phone bill.
  • Loans.
  • Overdrafts.
  • Insurance.
  • Car/travel.
  • Food bills.
  • Don’t forget to include haircuts, clothing allowance and birthdays!

How to make your money stretch further

  • Bills – Are you paying too much?
  • To find a better deal on your energy, broadband or mobile phone, contact the following providers:                                             Uswitch: Energy Comparison of Gas & Electricity | Broadband Deals & Mobile Phones                                                Comparethemarket: Compare the Market | Keep Life Simples                                                                                               Moneysupermarket: MoneySuperMarket – Get Money Calm (you can also sign up for their newsletters and special discounts)
  • Contact the Warm Home Discount Scheme to get up to £140 to help with your energy bills if you are on certain benefits, as well as being potentially eligible for help with loft insulation, new windows, cavity wall insulation etc: Warm Home Discount Scheme
  • Don’t forget to “TURN IT OFF” when leaving the room to keep bills down.
  • Use the Lidl Plus app to get offers and weekly discounts on your food shop.
  • Use Tesco Clubcard to give you money of your food as you spend.
  • Wherever possible, plan meals in advance.
  • Never shop on an empty stomach, you may end up spending more!
  • Buy frozen where possible, it’s cheaper!

Need additional help?

  • Kingsley Hall Social supermarket – Kingsley Hall Church and Community Centre
  • Food banks: Dagenham Foodbank | Food banks | LBBD
  • Shop at your local charity shops.
  • Benefits – check that you are receiving the correct benefits. ‘Entitled to‘ is an online website checker.
  • DABD can also advise – contact them to make an appointment.
  • Carers Hub (Carers of Barking and Dagenham).
  • Credit card/Overdraft – If you have credit card dept then make an appointment with the company or bank as soon as possible. Explain your circumstances and make an affordable payment plan with them.

Debt advice