Budget and manage debt

Budgeting

Making your money last can be difficult with rising costs of living. Visit the Money Advice Service for tips and resources to help you make your money go further. Use this Budget planner as a guide.

Debt

Many of us have found ourselves in debt and experienced the emotional pressure it can cause. If you have a debt problem it is important not to panic, but you can’t ignore it either – it won’t go away.

We understand how difficult it can be to manage debt. However, it is important to remember that your home is at risk if you do not pay your rent. We're here to help you so if you are struggling please contact your housing officer as soon as you can by logging in on My Account. They will be able to help with arranging a payment plan with you and may be able to suggest who you can contact to claim any benefits you might be entitled to.

Debt and money management help

If you're worried about your debt, the most important thing is that you do not ignore your debt.

• Our partners at Debt Free London help to ensure priority bills and debts are met whilst non-priority payments are reduced. Debt advisers such as Debt Relief Orders or Breathing Spaces can also provide advice on ways to deal with debts.
• For our social tenants, we offer a free, 45 min budgeting session over the phone with our partners at Money A&E. The session will cover income and expenditure, money, benefits, and universal credit. Spaces are limited and based on a first-come-first-served basis. Contact South London Healthy Homes for self-referral.
• You may also be interested in the ‘Save as you borrow’ options with our partners at London Plus Credit Union.
• Contact StepChange for free, impartial advice. Call free on 0800 138 1111 or get advice from StepChange online.

Get organised

• Make a list of all your debts and put them in order of importance.
• Speak to people that you owe money to and let them know you're having financial difficulties.

Avoid high-cost credit

• Avoid payday loans as far as possible. Notting Hill Genesis has a partnership with London Plus Credit Union and can offer a fairer rate of interest on loans.
• Never use loan sharks. Loan sharks are illegal, unregulated lenders and you will end up paying back a lot more than you took out.

Bank Accounts

Having a bank account is essential for when your benefits change to Universal Credit. Direct Debits are also a really good way of managing your money and are often the cheapest way to pay your bills.