Financial Wellbeing
Welcome
We know that when it comes to finances, things can sometimes feel like a maze of numbers, jargon, and perplexing choices. But fear not, because we're here to help take the stress out of money matters and guide you towards a healthier financial future.
Remember, financial wellbeing is not just about making ends meet—it's about creating a life that's full of possibilities, security, and dreams come true. And with this Financial Wellbeing page, we're committed to making that journey as enjoyable and enlightening as possible.
If you have a resources that you have found useful then share it with us and we can share it with everyone else on this page.
Citizens Advice
Dealing with money issues can sometimes be off-putting, but if you don't understand how things like credit or mortgages work, you could end up losing out financially or getting yourself deep in debt.
The citizens advice pages will give you the information you need to make the right choices, including help to deal with your debt problems, how to avoid losing your home and how to get your finances back into shape with some great links on borrowing, budgeting, and dealing with persistent debt.
Money Saving Expert
MoneySavingExpert.com is the UK's biggest consumer website, with more than 16 million users a month. The site's dedicated to cutting your bills and fighting your corner with journalistic research, cutting-edge tools and a massive community – all focused on finding deals, saving cash and campaigning for financial justice.
The average person in the UK can give themselves the equivalent of a 25% pay rise by being an active, savvy consumer and shifting to the very best deals. This site's here to show you how.
Step Change
The Stepchange Charity provide the UK’s most comprehensive debt advice service. Since 1993, They have helped 7.5 million people with debt problems take back control of their finances and their lives. Offering debt solutions and debt advice with no judgement or stigma attached.
They offer free, flexible debt advice that is based on a comprehensive assessment of your situation. They will then provide practical help and support for however long it’s needed.
Pensions
Pensions are something we can all benefit from later in life, but how much do you know about pensions? Don't worry we have got you covered, take a look at our Understanding Pensions page to understand:
Why pensions are important
Information on LUU's Pension schemes
How you can make the most of your pension
What you should be thinking about when nearing retirement
Making your money and pension choices clearer Money Helper is here to help, so you can move forward. Here to cut through the jargon and complexity, explain what you need to do and how you can do it. Here to put you in control, with free, impartial help that’s quick to find, easy to use and backed by government. Whatever your circumstances or plans, Money Helper is on your side. Online or over the phone, you’ll get clear money and pensions guidance, and pointers to trusted services, if you need more support. Open to everyone, Money Helper is helping people to clear their debts, reduce spending and make the most of their income. To support loved ones, plan ahead for major purchases and find out about entitlements. To build up savings and pensions, and know their options. We have collated their resources below for you to pick the most relavant for your circumstances.
Budgeting
Making your money go further is a goal most of us would like to achieve – and there are loads of ways of doing it, including using Money Helpers free budget planner. Their collection of guides will help you save money on your everyday household bills. They will also look at the best ways of keeping track of your money, learning how to manage a budget, which will help you to know when you can spend, and how to avoid going into the red.
How to Save
There are lots of things to think about if you're planning to save. Is it better to save or invest and what type of account should you choose? These articles look at the basics of saving, like how to get started and get into the saving habit, and whether you should pay off debt or save. So whether you’re new to saving or want to understanding how interest rates and inflation affect your money, these pages are for you.
Types of Saving
There are lots of different ways to reach your savings goals, including different saving accounts and products that will help you out. Money Helper have put together this easy-to-read section to give you guidance on saving for specific goals, like a house or holiday, as well giving you general tricks to help keep your saving on track. We also give you a rundown of all the different savings products out there and when to use them.
Insurance
One of the best ways of protecting your financial future is by taking out insurance.
You might be more familiar with car, home and travel insurance, but Money Helper has covered everything you need to know. They also look at health, critical illness, life and income protection insurance, and cover what to do and where to go if you need help with insurance.
Types of Credit
There are many ways of borrowing money, and they have different features. Knowing which is best for your specific situation can be difficult. That’s why Money Helper have created some guides that help to explain how the different products work. They include guidance on credit cards, pawnbrokers, home credit, store and catalogue cards and overdrafts. They also give some guidance on when you should be careful with credit products.
Credit and Purchases
Using credit for purchases is common and, used correctly, can be useful. But there are a lot of things you need to understand.
Money Helper explains all the tricky things, like the difference between credit ratings, reports and scores, how to improve them and how they affect the cost of your borrowing. You’ll find out how you’re protected when you pay by card and what to do if you’ve been refused credit.
Buying and Running a Car
After our homes (if you are lucky enough to own), our cars are among the most expensive things we’ll buy in our lives – and it costs money to run, insure and fix them too.
That’s why Money Helper has put together some guidance on the different ways you can buy them, get help if you get into trouble with car finance, and how to cut the costs of running a vehicle.
Talk Money
Money Helpers Talk Money series is designed to help you have those difficult conversations about money with the people in your life. So if you’ve ever struggled to sit down and talk about your money goals with a partner, don’t know how to tell your friends you can’t afford to go out this weekend, need to talk to relatives about some important money trouble, or just want to talk about money to your kids, these guides will help you out.
Student and Graduate Money
Student money is more than just your student loan. Money Helper have looked at credit cards, bank accounts for when you’re studying and when you graduate, and the best ways to deal with any debts you might have built up. They have also collated some great tips for budgeting when you are studying
Renting
Renting is more common now than ever – some do it forever, while for others it’s a first step on the ladder. You may also be a landlord renting out your property for a bit of extra income. In this section Money Helper have put together guides on budgeting and working out how much you can afford, responsibilities for landlords, and where to go and what to do if you’re experiencing problems when paying your rent.
Buying a Home
Buying a home is a big purchase – after all, it’ll normally take you two decades to pay off. Money Helper looks at the financial side of home buying including the different mortgage types, extra costs you need to factor in and help you might be able to get. Also they cover support if you are struggling to pay your mortgage, or are looking to remortgage or release money for retirement.
Becoming a Parent
Having a baby can be an exciting and scary time all at once. We know you need to think about your finances and make sure you get the support you’re entitled to. Money Helpers guides cover all the money basics you need to know when you’re having a baby – from how to budget for your new addition or paying for childcare, to what your rights are when it comes to maternity and paternity pay and when you return to work.
Illness and Disability
If you're living with a disability or illness, or looking after someone who is, thinking about money can be worrying, especially if you've had to stop work, cut back your hours or you're facing life on a lower income. Money Helper is here to give you guidance about the support that's out there to help you manage better financially and lead a more independent life by adapting your home or making travel easier.
Long Term Care
Needing to arrange care for yourself or a friend or relative is more common than ever and the first steps are stressful. This section covers all you need to know. Money Helper looks at the basics of arranging care and guidance on helping people with their money later in life . If you’re struggling to afford the care you need, they’ve got guides on government funding and other ways of raising funds.
Death and Bereavement
Money may not be the first thing on your mind if you’ve lost someone close to you – and that’s OK. When you’re ready though, you’ll find there can be a lot to sort out. Money Helper have put together these clear and easy to understand guides to help you know what you need to do and how to go about doing it. They have also got guides to help you prepare – including how to make a will, how to plan around inheritance tax and general guidance on getting your affairs in order.
Divorce and Separation
Money Helpers divorce and separation section is here to give you all the guidance you need when it comes to managing your finances during a relationship break-up. It doesn’t matter what your situation is. You may be divorcing or separating; have children or not; own your home or rent; or live in England, Scotland, Wales or Northern Ireland. We have guides that will cover your specific situation.
Money Problems and Complaints
You’ve got certain rights when it comes to the financial products you use. If something goes wrong or you were sold something unsuitable, there are things you can do. This section gives you guidance on dealing with products that were mis-sold to you, how you can sort out a problem and complain, and how to go about getting any compensation you might be owed.
Scams
No one thinks they’ll be caught out by a scam, but it happens more than you’d think. Money Helper are here to help you understand the different ways you could be scammed, and how to recognise them so you're confident you can spot one and let friends and family know too. They've also got guidance, so that if the worst does happen, you'll know what to do next and who you need to contact to report a scam.
Help with the Cost of Living
The price of everyday essentials is going up. You’ve probably noticed it at the supermarket and in your monthly bills. Inflation and interest rate rises mean that your money might not stretch as far as it used to. Whether you’re worried about rising rents, covering higher energy costs or tackling debt, we’ve brought together our most useful tools, calculators and guides to help you keep on top of your money.
Dealing with Debt
You’ve taken the first important step by reading about dealing with debt, so you’ll be pleased to know you’re in the right place as Money Helpers guidance is easy to understand and practical. In this section they’ll tell you where to go for free debt advice, and how to speak to the people you owe money to. We’ll also give tips to help you pay back your debts in the right order.
Money Helper Tools and Calculators
These are the tools and calculators that will help you quickly work out the figures you need for some of the most common money situations you may find yourself in.
Money Helpers easy-to-use calculators can help you budget, save and cut back on costs. They can help you find impartial advisers, find out how much you might have in retirement, tell you how much extra money you need for your baby and much more.
Click on the relevant drop downs below to find out more.
Benefits
If you’re struggling to make ends meet or you’ve had a change in circumstances and aren’t sure of the support you’re entitled to now, Money Helpers benefits calculator can help.
If you’re on Universal Credit or think you might be using it in the future, Money Helpers Money Manager tool can help guide you
If your income is down and you’re worried about your future finances, Money Navigator can help.
Everyday Money
The Midlife MOT is a tool to help you assess your current financial situation and plan for the future. Your personalised report will tell you what to prioritise and link to guidance on how to improve your financial wellbeing from midlife through to retirement.
Money Helper's free budget calculator will help you to know exactly where your money is being spent, and how much you’ve got coming in. Knowing how to manage a budget – keep track of where every pound is being spent – is a great first step to starting your savings, getting out of debt or preparing for retirement.
The cost of a car isn’t just the amount you paid to buy it. There are insurance costs, servicing costs and everything else over the course of a year you’ll need to pay to keep the car running safely and legally. Take a look at Money Helpers Car Cost Calculator.
This tool helps you compare bank accounts offered by most banks based on the fees and charges they charge for different services and facilities.
Credit cards are like having a loan for the amount you’ve spent using the card. They’re easy to carry, offer a way to buy-now-pay-later, and give you buyer’s protection. The Money Helpers Credit Card Calculator will let you see how much a credit card will cost you.
Before you get a loan, when you’re looking to pay off a loan a bit faster, or when you need to take a step back and see where your outgoings are – that’s the time to use Money Helper's loan calculator.
Travel insurance isn’t just about getting your money back if there’s a problem with accommodation or travel. It’s also there to make sure you can afford medical care when you’re abroad. That’s why Money Helper has created the travel insurance directory.
Saving Calculator - It’s great you’re looking to save! One thing about saving is that, sometimes, it can be difficult to know how much to save or how long it’ll take. So Money Helper has put together a savings calculator to tackle both those problems.
Family and Care
You’re expecting or planning on having a baby, which is great! It’s great you’re planning as well – it’ll make everything go much more smoothly. And when it comes to planning your finances, Money Helpers baby money timeline can help.
Work out your Baby budget - It’s great you’re expecting or planning on having a baby. Making sure your finances can handle a new addition to your family can be tricky. That’s where the baby costs calculator can help.
Find out how to manage your money and think about finances when going through divorce. The calculator also includes details on where to get professional help if you need it.
Homes
Mortgages are some of the biggest commitments you’ll make in your financial life. And with all the options, it can be hard to work out what they’ll cost you. Money Helpers mortgage calculator can help.
When it comes to mortgages, you want to find that balancing act of borrowing enough for your home, but not too much that the repayments become a problem. And that’s where Money Helpers mortgage affordability calculator comes in.
If you’re buying a residential property or piece of land in England or Northern Ireland, you’ll have to pay Stamp Duty Land Tax (SDLT) if your purchase is over the current threshold. Find out more in Money Helpers Stamp Duty Calculator.
Money Troubles
Money Helpers bill prioritiser can help you put your bills and payments in the right order. If you’re struggling to pay – whether it’s your rent, your mobile phone bill or loan repayments – it will tell you in two easy steps what to do before you miss a payment.
Have you missed more than one debt payment? Speaking to a trained and experienced debt adviser about your situation can help you see what the best decision for you might be. Find out where to get debt advice.