Managing your Money: Budgeting & Finance

Bills? Budgets? Borrowing? It's easy to get flummoxed by finance. But there's no need to be mystified by the jargon. To help us become financially independent, there is support available, so you can get to grips with what it all means, helping you to level up your finances and become financially fitter. Understanding how we use our finances and how or why we spend our money is one step we can take to becoming more financially stable.  

There are lots of online resources to help you learn. Whether you need budgeting basics, smart ways to save or tools to help you take control of your cash, we've got guidance for you.

Managing our own personal budgets is key for each of us at any stage of our lives – here are some tips from Martin Lewis, the MoneySavingExpert on budgeting – the Whys and Hows.

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

A credit score is a number representing your financial and credit standing – it can influence your ability to get things like credit cards, loans, mortgages, mobile contracts and more. Essentially, it is used to determine your ability to pay back the amount you borrowed in due time.

Here are some tips from Experian, a global consumer credit reporting organisation, about how to improve your score.

https://www.experian.co.uk/consumer/guides/improve-credit-score.html

If you feel you need assistance in improving your finances, the Citizens Advice Bureau have a wealth of information to guide you –

https://www.citizensadvice.org.uk/debt-and-money/getting-financial-advice/

Debt consolidation is about bringing all your debts into one place – rather than having multiple payments to different lenders, you just have the one payment to make. But is it a good idea? Here are some thoughts from Moneysavingexpert –

https://www.moneysavingexpert.com/loans/debt-consolidation-loans/

If you’re looking to grow your money, perhaps you’re considering investing. Sharesoc is a not-for-profit organisation who aim to improve your investment experience and to represent your best interests.  See our link to Sharesoc’s Youtube guides to investing below.

https://youtu.be/FBGd1r84SxA