Saving and budgeting

Need to save a little extra? Our budgeting tips could help.

We know that managing your finances can be hard sometimes. Changes at work, in your family or with your benefits can all make it difficult to make ends meet.

If you’re struggling to pay your rent then please contact us as soon as possible. We’ll try and help with support and advice, but the sooner you get in touch the better.

Budget planning

Writing down what you earn and what you spend is the best way to keep on top of your finances. Try this household budget planner from the Money Advice Service to see where your money goes. All you need to do is put in the numbers and it’ll do all the adding up for you.

Our new online services can help you keep an eye on where your money’s going too. You can check your rent statements and review your payments. Find out more and sign up for a MyGuinness account here.

Borrowing money

If you’re already having money problems then it might not be easy to borrow from a bank or building society. And we’d strongly advise against using expensive doorstep lenders or payday loan companies.

There are better options. Credit unions can offer loans and other financial services, like savings schemes and insurance. And some are starting to offer current accounts.

You can pay into credit unions via your bank account or in person at local collection points. Visit the Association of British Credit Unions to find your local credit union.

Debt support

If you have a debt problem there are ways to get back in control of your finances.

Lots of companies offer debt help, but many will charge you for this. It’s up to you of course, but there is lots of free help available too. Take the Money Advice Service debt test to see if you need help.

Getting help for debt

  • If you’re happy doing your own research, visit the National Debtline website. It’s got lots of information and a helpline for urgent debt problems.
  • If you need a bit more guidance, call PayPlan or StepChange. They’ll help you talk to your creditors and can set up arrangements and manage repayments for you.
  • If you want some face-to-face advice, contact your local Citizens Advice Bureau.

Housing and rent advice

Please contact us as soon as possible if you’re having any issues paying your rent. You can also get advice on rent and debt from Shelter or the Money Advice Service.

Changes to your pension

On 6 April 2016 the new state pension came into effect. Under the new rules, people with fewer than 10 qualifying years will not receive any state pension.

It’s really important you find out if you’re affected by the changes. Visit the government website pension pages to find out more.