Money worries take many forms: worrying whether you can meet an unexpected bill, constantly struggling to make ends meet or debts that are getting out of control.
Try and take stock of your situation to help identify the best steps to lessen your money worries.
The Money Advice Service Tool can help identify key issues that are at the root of your current money worries.
Once you identify the cause(s) of your money worries, prioritise areas that need urgent attention and start taking steps to address them.
Breakdown other issues and plan how you can tackle each one. If you are struggling with what action you need seek the advice of a money adviser.
Maximising your household income
To be in the best position to deal with your money worries, first ensure your household income is maximised and you are receiving all the financial help you are entitled. Millions of £’s of benefits go unclaimed each year.
Some benefits act as a gateway to other entitlements, that can also help you save money, so it is always worthwhile to check you are claiming everything you are entitled to.
A free online benefits calculator can help identify any unclaimed benefits you may be entitled to but are not claiming.
Citizens Advice Bureaux and other welfare rights organisations can check your benefit entitlement and help you claim.
Making the most of your money
While claiming additional benefits may help alleviate money worries, others may find they still need to take further steps to help improve their finances.
There are lots of free online tools to help you such as the Budget Planner from Money Advice Service (opens as a new tab) which provides personalised spending analysis.
Identify where you currently spend your money and assess what options you have to get better value for your money.
If you identify how you spend your money it helps to understand how to reduce your outgoings. There are lots of ways to reduce your outgoings to help you feel in better control of your money ranging from practical steps like finding supermarket deals to getting specialist advice from an Independent Financial Adviser about refinancing your mortgage.
Price comparison websites can help identify better deals whether insurance, gas and electricity, or other goods and services you pay for regularly.
A money adviser can help you put together a budget if you are having trouble doing this on your own.