Financial Difficulties

Struggling with finances and money can be really difficult, and worrying about money can negatively affect mental health. Struggling with mental health and wellbeing can also make earning and managing money even harder.  
  • Work out your budget: planning your budget ahead of time can help you take control of your finances, meaning you are less likely to end up in debt, less likely to get caught out by unexpected costs, and can spot areas where you can make savings. To work out your budget, you need to work out how much you spend on bills and living costs each month and figure out what outgoings you have. You can work this out on a spreadsheet, write it down on paper, or use some of the great free budgeting tools available, like this budgeting planner on MoneyHelper, the Budgeting tool on Citizens Advice, or the budget planner on princes trust.
  • Saving Money: saving money every month is a good habit to get into, the Princes trust has a savings calculator here, to help work out how long it will take to save a specific amount, or how much you need to save to have enough by a particular date. Having savings (if you are able to save) is a really good way to have a back up incase anything goes wrong.
  • Figure out your bills: reading into how you are spending your money, either on electricity, phone usage or shopping, will highlight areas where you can pull back and start saving, as well as figuring out where you might be spending excess money. Put all your important documents in one place so you can find them easily will also help in figuring out bills.
  • Build it into your daily or weekly routine: checking your bank balance at regular times, and building time into your routine to plan and think about money will eventually make it part of your habits, and ensure you are staying up to date and more aware of what is happening with your money. This might also make it less worrying as unexpected costs will come as less of a surprise.
Resources

Food Banks and Emergency Food