Coping and dealing with money problems
Everyone worries about money sometimes. If you feel like things are getting tight or you're not always in control of the money coming in and out, there are some things you can try that could help you stay on top of things. With the rising cost of food and bills, and changes to the benefits system, many families are worried about money.
You might be eligible for help with housing and other costs. There are also some things you might be able to do to help you cut your outgoings.
Feeding your family
Foodbanks are there to give you food when you can’t afford it. They can often give you other things you need, too, like cleaning products.
Each food bank works with different frontline professionals, like doctors, health visitors, social workers, and Citizens Advice. These professionals will be able to refer you to a food bank and give you a food bank voucher if they think you need emergency food.
The food bank and referral agency will use this voucher to gather some basic information about you. This will help them to understand why you need support and offer practical guidance, and the right emergency food. Find your nearest food bank.
Understanding where your money is going
When you’re worried about money, checking your bank account can make you anxious. But it’s important to understand what is going in and out, and when. This means you’re not taken by surprise when your bills go out, and you might be able to make changes. Citizen’s Advice have a free budgeting tool that can help you understand your money.
All families are individual and what is a luxury for one family might be essential for another. Only you can look at your outgoings and understand if you can make changes.
We know that children come with a lot of costs, and you might not want your children to know you have money worries. Younger children don’t need expensive toys and outings to learn about the world and grow into confident, happy adults. They want to spend time with you and feel loved and secure.
As your children get older and want to explore the world with more independence, things can feel especially difficult. It’s hard when their friends are suggesting things that you can’t afford.
It can help to suggest free or cheap activities that your teen could arrange with friends, so that they don’t feel they are missing out. This might mean group meetups at a nearby park or skatepark or checking out free events in your local area.
You could also help older teenagers find a weekend job so they can pay for things themselves.
Top tips for managing your money.
- Make a list of money that you have coming in, e.g., wage, benefits etc.
- List your essential spends e.g., mortgage or rent, food costs, school uniform, any debts etc. Compare it to the money you have each month.
- Look for support if you need it. Use a budget calculator or speak to someone about your finances if you need a bit of help.
Support in Sefton
To explore more support available to you in Sefton please go the Sefton Directory.