Improving Your Household Budget
This fact sheet and checklist highlights a number of ways you can consider to increase your income and possibly reduce your expenditure.
Not all of them will be suitable for you but please have a look through to see if you can improve your financial situation. Visit the Money and Pensions Service Online Budget Planner Tool to help you manage and plan your budget.
*You should seek expert advice from an independent financial adviser before making any contractual commitment involving a regulated financial product.
**You should look into the legal aspects of any contractual arrangements first before committing to them.
***You should speak with an independent tax adviser or accountant.
Could you change the due date of your payment, extend the term of your mortgage or fix to a better interest rate?*
Is a re-mortgage possible?*
Can you change from a repayment mortgage to an interest only one?*
Can you apply for help with your rental housing costs, such as discretionary housing payment to cover shortfalls in rent?
Can you apply for help with your rental housing costs, by claiming universal credit?
Are you entitled to council tax discounts or reductions?
Could you extend your council tax payments over 12 months or change the due date of your regular payment?