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Spending plans, borrowing and debt

Struggling to make it to the end of the month?

If times are particularly tough then you may be able to receive an emergency food parcel

The Trussell Trust is an organisation with a network of over 1,200 foodbank centres who provide a three-day minimum food parcel for those in need. Find your local foodbank here. 

You'll need a referral from either a doctor, health visitor, social worker or even our Money Matters advice service. Give us a call on 0808 164 0111.

How to work out a spending plan

Need help when it comes to creating a spending plan? It’s super easy and you can get the whole family involved.

First, take a look at how much you spend on: 

  • Household bills (rent, gas, electricity, council tax, internet, TV…) 
  • Living costs (groceries, household supplies…) 
  • Family and friends (gifts, school supplies/uniform…) 
  • Financial products (insurance…) 
  • Travel (public transport, car costs…) 
  • Leisure (trips away, subscriptions, sport, restaurants…) 

Next, work out how much money you have coming in from work, benefits and anywhere else. 

Now compare the two! If you’ve got more money going out than coming in, you’ll need to make some adjustments. The Money Matters Team can help you identify ways to cut costs.

Remember it’s never too late to save

Saving a little each week, or setting aside some money for a rainy day, can help you plan for the future and cope better with any unexpected bills and expenses. 

Using a budget planner can help you make small changes to your spending that will allow you to save. Even if it’s less than a pound a week, every little helps. 

Getting emergency borrowing right

Sometimes borrowing money is the only option. But just because it’s an emergency, doesn’t mean you don’t have options.

Three things to consider: 

  1. How high is the interest rate? 
  2. How long will you be paying it back? 
  3. Can you afford the minimum repayments? 

Interest rates can vary dramatically with banks sometimes charging 10% and some payday lenders charging as much as 5853%.

In certain circumstances, you might be able to get an interest-free government loan to help make ends meet. Find out more about Budgeting Loans and get an application form on the website

Avoid borrowing from someone who could be a loan shark at all costs. The England Illegal Money Lending Team gives advice on how to spot, report, and deal with loan sharks; visit

Debt getting on top of you?

Our Money Matters Team can help you to understand your rights and responsibilities and those of your creditors. We’ll also help you weigh up your options in relation to dealing with debt. Our debt advice service is free and impartial. 

Your adviser will:

  • Explore with you the ins and outs of any debt you have and give advice for managing that debt
  • Look for ways to increase your income and reduce your outgoings by completing a benefit check and a financial statement
  • Look at different debt solution options with you - Signpost or refer you to a trusted free and confidential service that can administer a payment arrangement or insolvency solution for you. Please note this may affect your credit rating. Any service we refer you to will be authorised by the Financial Conduct Authority, except in the case of Local Authority debt advice services which do not require this.
  • Act on your behalf if necessary, in relation to the following payments and debts: rent, council tax, gas and electricity, water rates and benefit overpayments.

Although we can offer advice and information on non-priority debts, we cannot hold money for you, distribute funds, or negotiate and monitor repayments and offer acceptances with or from multiple non-priority creditors. We do not act as Debt Relief Order intermediaries or assist with bankruptcy applications, IVAs, or other insolvency options. We do not help with business debt. If you require a service we do not provide, we will advise you on alternative advice options and can make referrals with your consent.

We can carry out casework for you but cannot represent you in court. The debt advice we give includes personal debts and we cannot advise on business debts. If following our initial interview, or if at any point in your case we feel that we cannot meet your needs, we’ll help you find an alternative service. This might happen if you need support, or if you require the help of a debt relief order (DRO) intermediary. 


Financial Conduct Authority and Complaints

Our debt advice service is authorised and regulated by the Financial Conduct Authority (FCA) FRN 775843. If you aren’t happy with our service, please call us on 0808 164 0111 and we’ll register your complaint.  

If you aren’t happy with our final response you can take your complaint to the Financial Ombudsman Service. Further information can be found here.

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