Budgeting helps you gain a better understanding of where your money is being spent.
Having a budget can help to reduce debt troubles and there are a number of easy tools to help you/
A few of the free budgeting tools available online:
- Martin Lewis’s guide: https://www.moneysavingexpert.com/banking/Budget-planning
The Money Advice Service
- Advice and guides to help improve your finances
- Tools and calculators to help keep track and plan ahead:
- Support over the phone on 0800 138 7777
Universal Credit is paid in a single monthly sum and households are expected to manage their own budgets.
Personal Budgeting Support is the Government’s commitment to help claimants adapt to Universal Credit.
What are the elements of Personal Budgeting Support?
- Money advice to help claimants cope with managing their money on a monthly basis and paying their bills on time Money advice will be offered online, by phone, or face to face
- Alternative Payment Arrangements for those claimants who cannot manage the single monthly