Financial wellbeing – top tips for living well
Homes are at the heart of all people and today we would like to focus on living well and financial wellbeing. This isn’t just about eating well and taking exercise – it’s about staying in control of your money, as we know that a healthy budget equals a healthy mind!
Being in control of your bills and rent help you manage your home, can really improve your mental wellbeing and help you sleep better at night. Our money matters team have compiled five simple ideas for looking after your money:
1 - Get in control - know where your money goes
Why not keep a notebook for a couple of weeks and write down EVERYTHING that you spend – this will start to highlight where you money goes and maybe show where you need to cut back.
2 – Tools to manage your money better
Stick with a notebook, or have a look at some of the tools available online or even apps you can download to your ‘phone to help you manage your budget. Check out Money Saving Expert and the Money Advice Service for help with budgets.
3 - Be a canny shopper
Shop around for the best deals but don’t be drawn in by offers that you just don’t need!
Why not try planning your meals for the week before you go to the shop? Write a list of what you need and stick to it! This might help avoid ‘top-up’ shops during the week, which can work out expensive.
4 - Reuse/upcycle/save money
Reviive and The Furniture Scheme both offer high quality second hand furniture at rock bottom prices, and even better – Wrekin Housing Group tenants get a whopping 30% discount! You’ll just need to supply proof of your tenancy.
Register with your local Freegle or Freecycle group online and you will be amazed at what people give away for free – and in return you can advertise things that you no longer need. Make sure you check and read their procedures for COVID-19.
5 - Save save save!
If it’s one thing these last six months have taught us, we NEVER know what is around the corner,
Having a safety net of a small pot of savings can really give you peace of mind that you have some money to fall back on in a crisis. Start small, open a Just Credit Union savings account today and by saving just £5 or £6 a week from now, would give you £100 by Christmas!
Alternatively, see if your bank account offers a ‘Save the Change’ option? This rounds up what you spend on your debit card to the nearest pound and pops the difference into a separate savings account.
Our Money Matters team can offer advice on money and benefits. In the COVID-19 Support and advice section, we have listed the questions and answers we are getting asked most often. They can be contacted on 01952 217234 or you can email money.matters@wrekin.com.
If you or someone you know is struggling with debt, our debt advisors offer impartial, regulated and free debt advice on 01952 217251, or email debtadvice@wrekin.com.
Wrekin is supporting ‘Homes at the Heart’, a campaign from the National Housing Federation calling for a once-in-a-generation investment in social housing.
#HomesAtTheHeart
24th August 2020