Tuesday, 30 April 2013

Budgeting Advice and Universal Credit

Hiya in the UK we are about to receive a massive shake up to the welfare system this means anyone receiving welfare payments will now get them monthly.  Never fear budgeting is your friend.  As you know I do a budget every year as our yearly income can change due to it being shift that are not set out and different shifts are paid at different rates.  J gets paid weekly from work and I get paid monthly.  Each year I see what we have coming in and what we have going out bills wise.

*When we get paid J pays his income into the account weekly and I pay mine monthly when it is received.  So there is always money going into the account.

*All the payments are by direct debit (usually the cheapest ways to pay) plus money for the car insurance is included as is house insurance (these are then paid in full as money is already saved up and it is cheaper than paying per month).

*If you have a very tight budget you pay them in this order:

Rent/Mortgage (or risk loosing home)
Council tax (or face getting a bill for full year)
Water
Gas
Electric
Food (foodbanks are availiable in many areas for those in serious need)

These are the basics for survival the rest of them are luxury and should be paid secondary.

I hope this post can be of help to somebody, any advice needed feel free to comment.

Love Dawn