The cost of living crisis has made it more important than ever to start conversations about money. Talking about money helps us to be more financially confident, resilient and face whatever the future throws at us.
Now is the time take control of your money. The key steps to make the biggest difference are
- Make sure that you are getting all the income and benefits you’re entitled to.
- Reduce your outgoings, don't spend more on bills than you need to.
- If you need help do these, get advice and support locally or online.
Know where to get
- financial support
- the best deal on your bills, such as gas, electricity and internet
- savings accounts and borrow wisely
- debt advice to help deal with problem debts
- advice and support, both online and across the city
Whether it’s for your day-to-day spending, or to see you through planned and unplanned events, there are some easy things you can do.
Find out now, if you are missing out on financial support, what benefits you could get and how to claim.
You can apply for a range of support depending on your circumstances.
Some benefits and support schemes are administered by local authorities and others by central government.
Use an independent, free and anonymous benefits calculator
Find out about the different benefits available
If you need more information and support, have a look at the Money & Benefits Advice page.
Check you are on the cheapest tariff
You should check with your gas/electricity supplier to make sure you are on the cheapest tariff available for you. Some suppliers have tariff's for people on a low income.
Contact your energy supplier to make sure you are on the cheapest tariff available and see how much you can save.
Grants and services from energy suppliers
Many energy companies offer schemes or grants to help with home heating and energy costs. Some are open to anyone – you don’t need to be a customer.
Contact your supplier to find out what they offer.
Citizens Advice lists grants some larger suppliers offer.
Ask about being put on your supplier’s Priority Services Register. This is a free energy support service if you are vulnerable.
Ofgem energy price cap
The Ofgem energy price cap limits what you pay for each unit of gas and electricity that you use, plus it sets a maximum daily standing charge (what you pay to have your home connected to the grid).
Between 1 October to 31 December 2024 the energy price cap is set at £1,717 per year for a typical household who use electricity and gas and pay by Direct Debit. This is an increase of 10% compared to the cap set between 1 July to 30 September 2024 (£1,568).
Though remember, it's the rates that are capped, so use more and you pay more. To see how this will affect your bill and how you can save, see Money Saving Expert Energy Price Cap calculator.
For more information on the energy price cap see www.ofgem.gov.uk/energy-price-cap
Help with energy costs
See what support is available to help with the cost of living and save money with our energy saving tips
www.helpforhouseholds.campaign.gov.uk
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.
www.moneyhelper.org.uk/en/money-troubles/cost-of-living
Energy at home - How to save money on my energy bills www.energysavingtrust.org.uk
Household support fund
The Household Support Fund provides grants to people in York who are struggling to pay their fuel bills. Check if you are eligible.
Saving on energy bills
Ofgem information if you can't afford your energy bills.
You can make saving on household bills and get help if you are struggling.
Mortgage arrears or problems paying your mortgage - It’s important you don’t ignore the problem. There’s a lot of help available. Find out about the steps you can take at Money Helper
Childcare can be expensive. The government provides a number of support schemes to help families pay for the cost of childcare. There are several different schemes you might be entitled to. Find out more from Raise York or from Childcare Choices.
Use the Live Well York directories to discover hundreds of free or low cost groups and activities happening across York.
You might think that buying healthy food will be hard on your wallet, but, with a little creativity, eating healthy food doesn’t have to be expensive. Money Helper has ideas you can use to help you eat a healthy diet and reduce your food bill.
Get the family involved and make tasty, healthy meals with recipes from NHS: Better Health.
Household Support Fund
The Household Support Fund provides grants to people in York who are struggling to pay their food bills. Check if you are eligible.
Low-cost or free meals and, or groceries
For free or affordable food and support have a look at Community Food Projects.
Look no further than the welcoming food clubs in your area. Many community groups across York work with FareShare and other providers to offer Pay As You Feel cafes and other food support.
For details of regular cafes, drop-ins, food banks and other food projects, search Live Well York 'Food and Drink', the growing list of entries under 'Community Food Help', or visit the council's help with food page.
Get help to buy food and milk - Healthy Start
If you’re more than 10 weeks pregnant or have a child under 4, you may be entitled to get help to buy healthy food and milk.
If you’re eligible, you’ll be sent a Healthy Start card with money on it that you can use in some UK shops. This card will be automatically topped up every 4 weeks with your payment.
To find out if you are eligible and to apply visit the Healthy Start website.
Free School Meals
You may be entitled to apply for free school meals for your children if you receive income-related benefits. Check if you are eligible
Holiday Activities and Food (HAF) programme
The sessions are currently running during school holidays. They include a variety of fun activities, including sports, music, arts and other exciting opportunities to learn and develop skills, alongside a nutritious meal each day. More information about HAF.
Borrow wisely
Credit can help you manage your money – whether you’re looking to cover planned expenses or need to meet unexpected costs. But it’s important to use it in the right way.
Money Helper will help you understand:
So whether you’re new to credit, looking to improve how you manage it or need some support, Money Helper can guide you.
If you need to borrow use the Money Helper tool to see the different credit options available – including credit cards, loans, salary advances and many more.
Visit www.moneyhelper.org.uk Call for free on 0800 138 7777 Typetalk: 18001 0800 915 4622
Top tips for borrowing
Here are some tips to help if you need to borrow money, take out a loan or use credit cards:
Check out Citizens Advice guide for 'Top tips for borrowing'.
Budgeting Loans and Budgeting Advances
If you need to borrow money for essentials and receive certain benefits, the government offers an interest-free option. Much cheaper than alternatives, such as an overdraft or payday loans.
A Budgeting Loan (called a Budgeting Advance if you’re on Universal Credit) offers an interest-free way to borrow. The smallest loan you can take is £100, with the maximum based on your living situation:
- £384 if you’re single
- £464 if you’re part of a couple
- £812 if you have children.
You can apply for a Budgeting Loan/Advance if you
Repayments are usually taken automatically from future regular benefit payments. It’s designed to help you pay for essential or unexpected expenses.
You can find out more, apply online or download, print and complete Form SF500 at www.gov.uk/budgeting-help-benefits or pick one up from your local Jobcentre Plus. Telephone: 0800 169 0140 Textphone: 0800 169 286
Community First Community Bank
Credit unions are financial co-operatives that offer a safe and secure place for people to save and borrow. The Community First Community Bank have a range of accounts and affordable ways to save, including
York residents may be able to receive a £25 savings bonus through the proceeds of crime scheme. Open a Community First Credit Union savings account today.
Community First Community Bank offer fair and affordable loans built around your needs. Whether you need a loan for an unexpected expense, a holiday or to help finance a new household item;
Community First offers special schemes too. Money management support to those working, including discounted borrowing rates, to making accessing the latest household appliances - including delivery, and where required installation's and the removal of old appliances - at discounted rates.
Find out more about how Community First Bank can help you manage your money and join today at www.communityfirstcu.co.uk or call 03030300010
Email info@communityfirstcu.co.uk
Beware of Loan Sharks
Over 310,000 households in the UK use illegal money lenders every year. People may borrow because they have a poor credit history; are newly arrived in the UK. Or they might think they can’t get a loan from a mainstream legal credit provider or, more commonly, just believe they are borrowing from a friend or colleague. Find out how to spot a Loan Shark
If you have borrowed from a loan shark or are worried about someone else, you can safely contact the Stop Loan Sharks: Illegal Money Lending Team.
The Illegal Money Lending Team also use proceeds of crime money as an incentive to encourage people to save, and to raise awareness of the dangers of borrowing from illegal money lenders.
Save if you can - Saving smaller, regular amounts is often more effective than saving larger amounts now and again. This is because you get into the savings habit, and you’re not overcommitting too much money. It also lets you budget your spending from week to week or month to month more effectively.
If this isn’t possible, save what you can as regularly as you can. Every bit makes a big difference.
Setting a savings goal is a great way to watch your savings grow.
Find out where to start and what a suitable savings goal is for you.
Help to Save
The Help to Save scheme was launched to help low-income earners. It pays a 50% bonus on the amount saved, up to a maximum of £1,200 over four years – here's how the account works.
York Learning offers courses and programmes to help you get into work or support you whilst in work. York Learning
The 'Finding a job' section of the gov.uk website is updated regularly with useful information for jobseekers including CV tips, advice from recruitment experts and interview tips. Finding a job - GOV.UK (www.gov.uk)
Visit York Apprenticeships for more information about apprenticeships. If you're already in employment, you could do an apprenticeship as part of your professional development
Sign up to receive the weekly York Apprenticeships bulletin, which gives information about vacancies and events across the city.
Would you like to feel more in control of your finances?
Money worries weighing on your mind?
If you’re feeling the squeeze, struggling to keep on top of bills, or worried about what the future may hold, MoneyHelper is here to help.
No matter your situation, MoneyHelper has a range of specialist tools and expert guidance completely free to access.
The guides provide you all you need to know to make the right choices, including help you can get if you’re worried about keeping up with essential bills and payments.
Find out about this and about making the most of your money at the Money Helper website, or see their living on a squeezed income or money troubles pages.
Make sure you’re on the right step - Take the Quids In Future-Proof Finance Quiz
So just how good are you with money? We're challenging you to take the Quids in Mega Money Quiz and find out!
Learning how mental health and money are connected might help if you're struggling. Sorting things out might feel like an overwhelming task. And lots of things may be out of your control. But try taking things one step at a time. Practical tips on managing your money and improving your mental health
Get the free MSE Mental Health & Debt guide
The Money Saving Expert guide is supported by Mind, Rethink, CAP UK and others, for people with mental health problems and those caring for them.
It covers how to handle debts when unwell, work with banks, free debt counselling, specific tips for bipolar disorder or depression sufferers, whether to declare a condition and more.
Download it here for free.
For many people gambling is a fun form of entertainment, but it can easily become a problem. Are you:
If you are not sure how much gambling has become a problem for you, find out how much of an influence gambling is having in your life.
GamCare Yorkshire & Humber
Offer a range of support provided face-to-face, online or over the phone to gamblers as well as those who are affected by the gambling behaviour of a family member or friend. Services are free of charge and confidential.
You can access our services however you feel most comfortable:
Help for Parents
The first step for anyone struggling is to make sure you're claiming all the help you're entitled to. To find out what benefits you could get, and how to claim, use a free benefits calculator
There are a wide range of benefits and financial support families might qualify for. To find out a little more about each one, visit these links
Child benefit - The government gives money to parents every month to help with the costs of raising a child. This isn't means tested, everyone can get this help. Find out more at:
Child Benefit: How it works - GOV.UK (www.gov.uk)
Universal credit - can help parents who are unemployed, or parents who work but earn a low income. The amount of money depends on how much you earn, how many hours you work, and how much you pay for childcare. Find out more at: Understanding Universal Credit - Home
Healthy start - If you're more than ten weeks pregnant or have a child under four, you could be entitled to help to buy healthy food and milk. Find out more at: Get help to buy food and milk (Healthy Start)
There are also a range of benefits and support packages available to help with the cost of schools and childcare. These include:
You can find more information on lots of different benefits and support on our website at www.york.gov.uk/BenefitsAndMoney.
Local advice: If you need any help to feel more confident about managing your money, get good local Money & Benefits Advice.
National advice: free online, telephone and face to face advice services
Where to find free benefit, housing and other sources of advice
The 'Worrying About Money' guide has been put together with the Food Aid Network and City of York Council.
There are two versions available.
Open the online 'Worrying About Money?' guide
You can pick up a paper copy in libraries and community venues around the city.
If you would like a supply of the guide for your venue or organisation please email wbpartnerships@york.gov.uk.
If you need to talk to someone about money but aren’t sure how it will go, the Money Helper: How to talk about money guide can help you get started.
It includes tips on how to get a good outcome, share money goals and what to do if you think the conversation may be tricky or it doesn’t go as planned.
Join the conversation - Share your stories on social media with the hashtag: #YorkTalkMoney.
More Useful Resources (including downloadable leaflets):
Here to help (City of York Council)
Money Helper have range of free leaflets to order or download including
- Making the most of your money
- Help with the cost of living
- Problems paying your mortgage
Credit Unions and other alternatives to payday loans (Money Helper)
Fee-free basic bank accounts (Money Helper)
How to talk about money (Money Helper)
How to save money and use less energy (Ofgem)
How much do electric appliances cost to use (NEA)
Benefits: If you are disabled and working age (Welfare Benefits Unit)
Benefits: For people over State Pension age (Welfare Benefits Unit)
Benefits Checklist (Welfare Benefits Unit)
There are little things we can all do to help look after our mental health. Having good mental health helps us relax more, achieve more and enjoy our lives more.
Every Mind Matters
