Newark and Sherwood Homes Limited
Kelham Hall, Kelham
Newark On Trent,
Notts, NG23 5QX
Tel: 0845 258 5550

Newark and Sherwood Homes

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Making the Most of Your Money

 

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Launched in 2008 – the Quids in! magazine was set up to help people on low incomes find ways to make their money go further, to raise awareness about loan sharks, high interest lenders and rogue traders.  

For more information – take a look at the Quids in! web page

 How can you make your money stretch that bit further?

Rising prices mean that we all have to look after our money and try to make it go just that little bit further.  

Getting by on a low income also takes careful organisation - here are a few positive steps you could take to make it easier.

  • Work out your budget

This will help you to build up a better picture about what money you have coming in, where your money is going and when. It will also help you to decide if there is anything you can easily cut back on or you could shop around for a better deal.  

A great way to work out your budget is by using the Money Advice Service Online Budget Planner.  It’s easy – you just record your money coming in and outgoings and it will then calculate where your spending goes each month across a range of headings.

  • Try to reduce your outgoings

Any savings you make on your outgoings can make a big difference on your day to day living. It can make the difference to you just making ends meet or freeing up additional money so you can treat yourself or have money left over, for savings.

Keeping a spending diary is an effective way of seeing exactly how much you spend and what you spend it on.  Need help with cutting back? – Why not try using the Cut back calculator.  It could help you to see where you might be able to make savings on your outgoings and on things you buy regularly.

  • Get help if your budget doesn’t add up

Having difficulties with paying your rent or have debts?  Contact us, we can refer you for free debt advice to Sherwood and Newark Citizens Advice for free face to face or telephone support at New Ollerton and Newark or to Framework at Newark, New Ollerton, Rainworth or Blidworth.

  • Claim all the benefits you are entitled to

Research shows that people on low incomes may be missing out on vital financial support.  You can make sure you are claiming all the benefits that you are entitled to using the Benefit Calculator

  • Become a smarter shopper and avoid waste

Save money by planning your meals for the week, by making a list and only buying what you need.  There are a number of useful internet sites to assist you.

  • Compare and switch energy suppliers

Your energy bills are probably one of your biggest expenses each month.  If you have never previously switched your gas or electricity provider you may save money by shopping around.

‘My Home Energy Switch’ is a FREE website switching service set up for social housing tenants, by the National Housing Federation.  Simply put in your postcode and in just a few minutes you can find the cheapest energy suppliers, including fixed energy tariffs, in your area.  You can also use the site to switch to a new cheaper energy provider.  The tariff calculator and switch process is provided by uSwitch and is accredited to the Ofgem Confidence Code.

For further information about this service visit - www.nhf.billscutter.com      
Or to speak to someone over the phone call free on 0800 0014 706

  • Save energy, save money

To help you to start saving straight away read the top ten energy saving tips on the Energy Saving Trust website.

If you are having problems paying your Gas and Electric bill contact your current supplier immediately. Their contact details will be on your gas and electric bills. For more information and support and advice on paying your fuel bills visit the following websites: Citizens Advice   EDF Energy Trust   British Gas Energy Trust   Energy Saving Trust

  • Compare mobile phone deals

Get the best deal for your usage. Low users may save by getting a pay-as-you-go rather than a contract. Comparison sites can help save you a lot of money, but only if you use them wisely. Some are Ofcom approved, and they tend to be the most reliable. Using Billmonitor is a great place to start.

  • Shop around for home phone, TV and broadband packages

If you have a landline it may be cheaper to get a phone, broadband and TV as a package.  Paying by Direct Debit also generally gets you a reduction on your line rental.  See how much you can save by switching packages on the The Money Saving Expert website

  • Switch from satellite or cable TV to Freeview

No need to pay costly monthly packages - all you need is a Freeview TV, box or recorder and an aerial in good condition.  Enjoy up to 50 digital TV channels and 24 radio stations - you can also record your favourite TV with a Freeview plus TV recorder or watch four HD channels for free with Freeview HD.

The Money Advice Service  provides a range of practical, free and independent advice. 
For further information see or call 0300 500 5000 (lines open 8am – 8pm).
 

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