Are you being affected by the rise in the cost of living?
There’s no getting away from the fact that things are tough for many of us right now and the rising cost of living is having a significant impact on our pockets. It’s affecting so many of us in lots of different ways and if you find yourself affected it’s certainly nothing to be embarrassed about. We’ve pulled together some hints, tips, and tools which we’ve come across that you may find useful.
We’ll add more information to this page which we think you may find useful as we come across it, so it’s worth checking back from time to time.
What to do if you find yourself struggling
Talk to companies you owe money to
If you’re unable to meet your regular repayments on your credit products, the worst thing you can do is ignore it. Many creditors are more than happy to help you find a way to get through whatever challenge you’re facing. They’re there to support you and will have a range of options available for you. Talking to your creditors should be one of the first things you do once you know you’re unable to meet your repayments. Money Helper has a great section on their website for help and advice about talking to creditors.
Check what help and benefits you may be able to access
It might be a good idea to check if there’s any help and support available to you right now. A good starting point for this is to check out the Money Helper website where they have lots of help and information about benefits and what you may be entitled to. The Citizens Advice Bureau is also a great place to get information so its worth paying these websites a visit.
There’s also a handy benefits checker tool we’ve come across which is powered by Entitledto, an independent organisation whose mission is to help everyone access the benefits they’re entitled to. You can access this on their website here.
Check what help and benefits you may be able to access
If you find yourself struggling to pay your basic outgoings each month and find that your debts are bigger than your yearly take home pay, then you may well be in debt crisis. If you’re in this situation, the worst thing you can do is ignore it. There’s lots of free help and support available which you should consider accessing. We’ve listed some of these below for you.
Money Helper
Citizens Advice Bureau
StepChange
Entitledto
National Debtline
Are you currently experiencing Money Worries?
We have created a guide with free, impartial advice to help you manage if you find you are struggling. If the matter is urgent, please contact National Debtline via the link below.
Don't Ignore the Problem
Please don’t wait for things to get out of control. Contact your creditors early and make them aware of your situation.
Prioritise your debt: It’s hard to know what topay first but we believe you should pay priority bills first – so, concentrate on things like your mortgage and utility bills. Once you have these bills sorted then look at the other bills you must pay.
Who else can help: There’s also some good independent help available for free so it may be useful to contact third parties for some advice such as;
Money Advice Service StepChange Citizens Advice
They may then liaise with your creditors to provide the support you need