Everyday money - new draft

A useful way to manage your money is to think about how to track your spending and avoid getting into debt.

Moneyhelper has a guide on how to start managing your money. There are tips about budgeting, paying off any borrowing and looking ahead to saving. Creating a budget shows you the money you have coming in and the money you have going out.

Budgeting also helps you plan your spending and manage unexpected expenses. When it comes to creating a budget, make things easy by using a budget planner.

Maximising Your Money

Budgeting is great to help manage your money, but it is also worth thinking about how to maximise your money. You could change your phone, TV and broadband supplier. You can check if your bank account is offering good interest rates. You can look at any insurances you have and find the best deal which can save you £100s every year.

Money Saving Expert has suggestions to help you boost your income. Clearscore have suggestions to make your money go further. Increasing your income may seem like an impossible task, but there is support from providers in Sunderland.

How to keep on top of your bills

The best way to manage your bills is by arranging for payments to be taken automatically by direct debit. Some companies offer a discount for paying in this way.

Direct debits put you in control of your money. You will know what bills are being paid and when, this will help you budget for the rest of the month. You won't need to worry about bills not getting paid or missing a payment that could affect your credit file.

If you're struggling with bills, you might be finding it hard to decide which ones to prioritise. Some bills are priority debts and can have serious consequences if the payment isn't made. It is important to make sure you know what to pay first. Moneyhelper have a Bill Prioritiser Tool that can help you focus on how to deal with your priority bills.

Financial support with Lightning reach

Sunderland City Council have partnered with Lightning Reach to help residents access the financial support they are eligible for. Lightning Reach is a free, secure online portal that helps people find and apply for financial assistance - all in one place. Find out more on the Lightning Reach website.

Council tax

There are discounts, exemptions and reliefs available depending on your circumstance. You can find out whether you would be eligible for any of these on Discounts, exemptions and Reliefs page.

Help with your mortgage

If you're struggling with repayments, speak to your lender before you miss a payment. Your provider should be able to offer you some alternatives, such as switching to interest-only.

If you've been on Universal Credit for nine months or more, you might be able to apply for a Support for Mortgage Interest loan through the Government. This is a low-cost option to consider that could help you reduce your mortgage payments.

Budgeting loans

This is a government scheme providing interest-free loans to those on certain income-based benefits, such as income-based jobseeker's allowance.

They can help you pay for essential items in your home or other goods that you can't pay for in a lump sum, such as clothes and furnishings. Find out more at Budgeting Loans. You can also apply via Jobcentre Plus.

Additional help and support

The links below can also offer help and support to prevent debt.