Money

In this section:

• Debts and Court Orders
• Types of bank accounts and cards
• Paying bills
• Welfare benefits
• Useful links

Managing your money

It’s important you learn to manage your money well to avoid getting into debt with your bills and your family and friends and having to cope with stresses attached.

There are some things that you need to pay for e.g. rent, food and bills so to budget effectively, you need to work out each week what you need to buy or pay and keep track of how much you are spending and receiving in a week.

Take a moment to think about the following:

• How much are you spending a week and what on?
• How much is your weekly income and where does this come from?
• Will your money cover your expenses?
• If not what can you do about it?
• Are you spending money anywhere that you don’t need to?

If you take notice of where you spend your money it is easier to see where you can make some savings. You may want to think about the following tips: -

• If you need to get somewhere and you have the time, consider walking. It’s free, will help you keep fit and is better for the environment.
• Taxis. Don’t take them.
• Use a bike, there are plenty of second hand ones available, check out your local newspaper, adverts in local newsagents etc
• If you find yourself using public transport regularly, consider buying a bus pass or rail card.
• Shop and swap for clothes at markets, charity shops, dress agencies and on line. You’ll find great new clothes and can sell your old ones at the same time.
• Washing clothes can be expensive so make sure you have got a full load.
• Car boot sales and charity shops are great places for cheap clothes, books, CDs, DVDs, kitchen implements etc.
• Find out when your local hairdresser’s ‘model cuts’ day is. Most salons cut hair free or very cheaply one day a week, when the less experienced stylist get to practise with guidance from the top. Check out local colleges to see whether they need models also.
• Use your local library for CDs, books and DVDs.
• Make calls at off peak times. You can often save money by saving long calls for the weekend or evenings.
• Takeaways and precooked meals can be expensive and unhealthy. Cooking your own meals can be cheap and often fun.
• Avoid buying through mail order catalogues - they are often a lot more expensive.
• Eat out on the cheap using vouchers and money-off schemes.
• Avoid impulse buys. Do the ‘walking out the shop’ test-you’ll know an hour later if you really need it.

Who Cares?

"Who Cares about cash" is an interactive CD-Rom packed with information about managing your money – everything from how to use a cash machine to running a bank account see http://www.thewhocarestrust.org.uk/ for further information.

The Who Cares Trust
Kemp House
152-160 City Road
London
EC1V 2NP