How to Budget your Money by dfsdf224s


									                                                                                                                      Money Worries
Useful Contacts                                  Benefits Enquiry Line

Housing Executive
                                                 0800 220 674
                                                                                          How to budget
03448 920 900                                  Financial Services Authority
                                                 0845 606 1234
                                                                                                                        your money
Consumer Credit Counselling Service    
0800 1381111                                   Omagh Independent Advice Services                             (028) 8224 3252

Housing Rights
(028) 9024 5640                                  For more information about our service contact                         your local District Office or Area Accounts office.

Citizens Advice Bureau
(028) 9023 1120

Advice Northern Ireland
(028) 9064 5919
                                                 This leaflet is available in alternative
Northern Ireland Energy Agency                   formats, please contact your local
0800 512 012                                     District Office.

Energy Saving Trust

Inland Revenue                                                                                        CS/569/09/10
                                                                   September 2010
You may wish to consider some of the                  Maximising your income                                 Household insurance
following options:                                    Seek advice from the Northern Ireland Housing          You should be aware that the Housing Executive
                                                      Executive or other advice agencies on what other       does not insure your home contents - you need
Don’t ignore the problem                              benefits you may be entitled to, such as Housing       to arrange this yourself. Details of affordable
Respond to all letters and bills.                     Benefit, Tax Credits or Social Security Benefits.      house insurance policies are available in your
                                                                                                             local office.
Budget your money                                     Opening a bank account
Planning is important. You could help manage          Having a bank or building society account can help     Plan for the future
your budget by listing:                               you organise your household budget. For example,       If you have worked out a budget, you will
                                                      you can receive discounts from some utilities if you   know how much money you have for essential
•   Your income - from all sources                    pay by Standing Order or Direct Debit.                 expenses such as rent, food and energy bills.
•   Your regular bills and expenses                                                                          That will allow you to work out how much is left
•   Your occasional expenses, such as Christmas or    We can give you advice on how to open a basic          for other expenses such as replacing furniture or
    school uniforms                                   bank account as not having one can sometimes           appliances.
                                                      create extra problems.
To avoid debt, try to make sure the amount you                                                               Parents
spend (including occasional expenses) does not        Opening a savings account                              Having children changes a family and brings
exceed your income.                                   This can be with a bank, building society or credit    a number of new expenses. Planning ahead,
                                                      union.                                                 seeking support from family and friends and
Remember to prioritise your bills - for example,                                                             shopping around will help you to keep on top of
rent payments should not be missed.                   Saving even small amounts of money regularly           your family’s spending.
                                                      can help you budget for the unexpected.
There is a step-by-step booklet available to guide                                                           The Financial Services Authority has a step-by-
you through the different stages. Contact your        Borrowing money                                        step guide which may answer questions you
local office for this or for further assistance.      We should all try to avoid borrowing money,            might have about your finances and your rights
                                                      particularly for non essential items. However if       as a parent.
Saving energy                                         you need to borrow, always make sure you shop
Conserving energy will reduce your energy bills.      around for the best rate.                              Child Trust Fund
Pick up our leaflet “Money Worries - Practical                                                               The government is making substantial changes
Advice” for top tips on saving energy.                Always pay off debt with the highest interest          to the Child Trust Fund. Latest information can be
                                                      rate first and seek advice on the best borrowing       found at
If you are employed                                   options for your family.
Check your tax code is correct. If you are on a low
income you may still be entitled to benefits such
as Working Tax Credit.

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