Let's check-in on your financial health
Most of us are aware of how important it is to look after our health by doing a few basic things like getting enough exercise and eating properly. But how many of us look after our finances in the same way?
Most people find themselves in financial diffiulty if something changes at work such as reduced hours or even redundancy. A life event such as a growing family or a new car can also affect your money.
Take a look at our Financial-Health Top 5
Boost your Credit Score
Your credit score is usually looked at by lenders if you're wanting to borrow money.
A lower score could make it harder for you to get any form of credit – even a mobile phone contract, so it is important that all of the information is up to date, or if there is an issue, you begin the process of correcting it.
There are lots of free servcies, such as ClearScore - who provide a free credit reference service, and your bank (current account) may offer this too. There are also paid services that show you how you're doing each month and offer advice on how to get that score higher.
Check your address details
Have you moved house recently? Check to see if there are any bills or accounts connected to you that you don’t know about.
Again, check with credit reference agencies and make sure they have all of the right / most recent details about you on file.
Budget Budget Budget!
Spending is easy, right? So let's make budgetting just as easy, and think about how we can monitor what we're buying and paying for, and how we can make our money go further.
Organisations such as Money Dashboard have developed helpful tools which allow you to see where your money goes. Some of these are connected to charities, while some are linked to other companies, but they may be able to help you understand your spending habits.
You may also find it useful to check if you are entitled to any benefits that you may not be aware of through entitledto or Turn2us.
If you login to your account online, you can also use our free income and expenditure tool.
Find a better deal
Renewals on your car insurance, home insurance, monthly subscriptions, energy spend - all of these can be challenged. Don't just accept that this is what you're paying, there may be a better deal out there.
Uswitch and MoneySavingExpert provide free to use comparisons, as well as moneysupermarket.com and Compare the Market
Talk about your money
If you have any questions about debt, there are a number of organisations, many of which give free advice, that you can speak to and can help you. Take a look at our cost of living page for full details: cost of living - support tools
ways to pay
reduce your balance by direct debit, continous card payment, standing order, or with a one-off payment