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money worries

Money worries is one of the prime reasons for relationship problems and divorce. Click on the topics below for further advice or help on these matters.

Helpful Websites

The helpline that provides FREE CONFIDENTIAL and INDEPENDENT ADVICE on how to deal with debt problems.

Christians Against Poverty is a national debt counselling charity with a network of 72 centres based in local churches. CAP offers hope and a solution to anyone in debt through its unique, in-depth service

Clear Start is a national organisation set up to provide free support to help people with serious debt problems.

The Consumer Credit Counselling Service is a registered charity offering free, confidential advice and support to anyone who is worried about debt. Our free counselling and debt advice can help you get back in control of your money and on with your life.

1. First of all, don't bury your head in the sand and hope it will go away - it won't.
2. Don't hide anything from your partner. You may be frightened to discuss it but you you need to, and you need to work out together how to deal with the problem.
3. Download our Family Budget Spreadsheet and complete this to see what size your problem is.
4. Eliminate all unnecessary expenses, meals out, takeaways, CDs, DVDs, new clothes, and keep going through the Budget stripping-out all but essentials. How does the budget look now?
5. If you have already paid your mortgage for several years, you may be able to extend the period which should reduce the payments.
6. Assuming you are on a repayment type mortgage and you have had this for several years, you may be able to move temporarily to an interest only mortgage which will reduce your payments.
7. You may be eligible for an interest, or mortgage, holiday which some lenders offer which gives you a break from paying the mortgage.
8. Ask to see your bank or building society manager or advisor to discuss your situation and ask about the above options
 

Family Budget spreadsheet calculates your monthly funds available or shortfall putting you in control of your finances

1. First of all, don't bury your head in the sand and hope it will go away - it won't.
2. Don't hide anything from your partner. You may be frightened to discuss it but you you need to, and you need to work out together how to deal with the problem.
3. Download our Family Budget Spreadsheet and complete this to see what size your problem is.
4. Eliminate all unnecessary expenses, meals out, takeaways, CDs, DVDs, new clothes, and keep going through the Budget stripping-out all but essentials.
5. Don't borrow on other credit cards as this will compound the problem, UNLESS it is a short term problem and you can obtain an interest free period by transferring your debt from one credit card to another and by doing this solve your debt problem. But be sure you will be able to meet the payments when these begin on the new card.
6. You may be able to ask a parent, friend or member of your family if they would lend you the money to pay off your credit card and then pay them back at a lower interest. Remember that credit card companies charge up to 30% interest.
7.Talk to your bank about a personal loan, this should be very much cheaper than the interest rate chared by your credit card company. DO NOT borrow more than you need to clear the debt and pay it all off.
8. If your worry is about a loan, then compare the rate you are being charged currently and investigate alternative loan rates, as you may be able to find a better rate and pay the original loan off. 
 

Family Budget spreadsheet calculates your monthly funds available or shortfall putting you in control of your finances

1. Put into practice all the advice above
2. If you normally buy ready meals, stop! Instead buy the basic ingredients and cook from scratch which will provide considerable savings.
3. Watch where you shop - supermarkets are keen for your business but some are cheaper than others, so look around.
4. If you have a car on HP, consider selling this, paying off the loan and buying a second hand car for cash. The car business is in the doldrums and you can pick-up a remarkably good car for very little. Speak to some of your local main dealers, as they often have cars that have been traded-in but are too old for them to sell on.
5. If you would like the occasional glass of wine, or a beer, consider brewing your own. It is quite fun, rewarding and of course, much cheaper.
6. Longer term, grow your own vegetables. Even in a small garden, a few growbags will support tomatoes and courgettes, whilst a large bin or old dustin makes a perfect home for potatoes, runner beans or carrots.
7. If you have a spare bedroom, you could take in a lodger under the 'Rent A Room Scheme' which permits you to let part of your home and generate a tax-free income of up to £4,250 a year, which is £354 a month or £81 a week. You could also offer to provide laundry and meals if you wished. The room must be furnished and you may even find someone who only needs it during the week. 
8. If you have any spare time, a part time job may be a possible avenue.
9. If you have children at home, you could consider looking after family or friends children.
 

Family Budget spreadsheet calculates your monthly funds available or shortfall putting you in control of your finances