Plan and Budget

Understanding your income and expenses is the first step to managing your money. Using a simple online budgeting tool to track your spending can help. However, we know that many people still have difficulty making ends meet, even with a clear budget. If you’re in this situation, consider contacting an advice service, checking if you're entitled to benefits, or reaching out to a debt helpline for more support.

Reach out

You can call or visit your local Advice Service to speak with someone. Make sure to bring your paperwork, such as bills, pay slips, letters about payments, and bank statements. An adviser will review your paperwork and help you create a plan.

Visit our Advice and Support Services page for information on services available across Lincolnshire.

Budgeting Advance

You may be eligible for a loan through your Universal Credit to help with certain expenses. This is called a "budgeting advance." https://www.gov.uk/guidance/universal-credit-advances

Budgeting is a helpful first step in managing your money. It can show you where you might be spending too much or paying for things you don't need. If, after making your budget, you're still in debt, consider contacting Step Change or National Debtline for help from their expert advisors.

Free tools for everyone

Money Helper

Money Helper Budgeting Tool

Citizens Advice

https://www.citizensadvice.org.uk/debt-and-money/budgeting1/work-out-your-budget/

Step Change have a guide on how to create your own budget:

https://www.stepchange.org/debt-info/your-financial-situation/making-a-budget.aspx

Money Saving Expert have a downloadable Excel budget planner that you can fill in online or print:

https://www.moneysavingexpert.com/banking/budget-planning/#spreadsheet

You might qualify for a budgeting loan if you've been receiving certain benefits for 6 months. You'll need to pay back what you borrow. Find out more at Universal Credit advances - GOV.UK

We recommend avoiding payday loans and high-interest credit agreements. Instead, speak to an Advice Service if you're struggling. They can direct you to the right support for your situation.

Money Helper Bill Prioritiser
MoneyHelper offers a tool to help you prioritise your bills. It lets you select the bills you need to pay and provides a personalised list showing which ones to tackle first.

Bill prioritiser: which debts or bills are most important? | MoneyHelper

Many people avoid dealing with debt, often fearing final demand letters, but ignoring debt will only make it worse. If you're worried about debt, visit our Debt Advice page for guidance and support.

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Plan and Budget

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