4 minute read
Financial tips and advice
We can all agree that changing bad money habits or trying to find new and creative ways to make money stretch further is not always easy.
Financial health can play a large part in our overall wellbeing as we worry about where every single penny is going. As prices continue to rise on everyday necessities this year, its important to know where you can find support, how you can spend with intention and where there may be money to be saved to help keep your finances manageable.
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Food surplus services
Help reduce food and household waste and possibly save yourself money at the same time:
www.toogoodtogo.co.uk
Reduce food waste and with end of day discounts at cafes, restaurants and supermarkets
www.olioex.com
A local community based way to give and share free food and drink as well as lend and borrow household items
Useful websites worth bookmarking
• www.moneysavingexpert.com
• www.moneyhelper.org.uk
• www.ofgem.gov.uk
Make sure you track your budget
It can be tricky to keep track of your budget, but being aware and remaining consistent with your spending can help you to keep on top of things. Sometimes laying it all out of a simple spreadsheet or bit of paper can help you to see where your money is going and if there are any surprising spending habits you may be able to change.
Collect all your statements and receipts together
Successfully budgeting means you need to accurately record your incomings and outgoings, accounting for monthly bills, as well as birthdays and other one off spends. It is recommended you start by looking at your spend for the last three months.
Fill in your budget planner
This will help you to understand if you are spending more than you earn, or if you could be putting left over funds into savings for a rainy day.
If you find you are overspending
Look at where you may be able to reduce spending – this could be on credit cards, bills and mortgages, but also on your weekly shop or childcare costs.
Money Saving Expert has an excellent step-by-step ‘money makeover’ guide, which helps to show you how to look at and overhaul your finances.
www.moneysavingexpert.com/family/money-help
Mobile phone bills
You could find that you’re frequently being overcharged by your mobile network.
Billmonitor can analyse online bills, assess your phone requirements and find suitable offers from retailers to help you save money.
www.billmonitor.com
TopCashback
Spending for necessities is unavoidable and if you are already making online purchases such as your weekly food shop - use TopCashback as you spend to help you to earn money back over time.
www.topcashback.co.uk
Conserving fuel and finding the best prices
With average prices for fuel on an upward trend this month, making conscious changes to how you drive can help reduce costs and filling up at the right forecourt could make a big difference – especially for our colleagues traveling in from further afield or working out in the community.
How can I drive more efficiently and cut costs?
• Keep tyres inflated
• Turn off the air-con at lower speeds
• Declutter inside your car and remove unused roof racks to reduce overall weight
• Don’t fully fill your tank – weighing down the car actually makes it less fuel efficient
• Accelerate and brake gradually
• Change up your gears sooner
• Pay using cashback credit cards – but make sure you repay the card in full each month so you’re not paying interest
• Think about setting up a whatsapp group for car sharing with colleagues – get green and financially lean
How do I find the cheapest fuel in my area?
Use a comparison site/app to help to find the cheapest forecourt in your area for fuel
www.petrolprices.com
Debt help and advice
Remember, if you do find yourself bogged down in a financial quagmire, there is always help and support available.
NHS England work alongside the MoneyHelper Service (www.moneyhelper.org.uk) to provide free, independent and impartial support for NHS colleague’s financial wellbeing from across the UK. You have a few options for getting in touch with the service:
NHS telephone support line
0800 448 0826
Monday to Friday, 8am to 6pm
Whatsapp service
+44 7701 342 744
Send a text to the MoneyHelper Service’s national support team to get help with sorting out your debts, credit questions and pensions guidance.
Webchat
Chat to one of the MoneyHelper Service team online Monday to Friday, 8am to 6pm Saturday, 8am to 3pm
