If you’ve been caught off guard by higher bills and you’re worried about missing a payment, letting your creditor (any organisation you owe money to, for example, housing, utilities or council) know and having early conversations with them is the best first step to resolving your money issues and avoid falling into problem debt.
Lots of us in the UK are worried about being able to pay the rising cost of our energy bills. However, today, new Prime Minister Liz Truss has announced an ‘energy guarantee’ – from 1 October, households on the standard variable rate (SVR) with typical usage will pay no more than £2,500 per year for each of the next two years.
Taking the time to manage your money better can really pay off. Learning to budget can help you stay on top of your bills and save £1,000s each year. You might be able to use savings to pay off any debts, put them towards your pension, or spend them on your next car or holiday.
If you’re struggling to keep up with bills and debt payments, don’t worry – you’re not alone. We help hundreds of thousands of people with similar worries every year. There are lots of things you can do to resolve your difficulties, including getting free debt advice.