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Setting aside some time to manage your money can be really useful. This will help you feel on top of your money and give you more of an understanding of where your money is going.  

A budget is one of the key tasks to complete to help you with managing money. It gives you an idea of the money coming in and the money being spent.  

Here is an example list of what you need to figure out your budget: 

1. Bills e.g. rent, mortgage, electricity, council tax etc. 
2. Living costs e.g. food bill, things bought for your house.  
3. Travel e.g. fuel for your car or tickets on public transport.  
4. Insurance and bank charges e.g. life insurance, car insurance.  
5. Fun times e.g. meals out as a family, holidays, buying gifts etc.  

Once you have taken some time to figure out how much you spend hopefully the money coming in is more than the money going out.  

If not, try some things to bring your costs down: 

1. Look at places where you can cut down spending- if you get a takeaway twice a week maybe put this down to one.  
2. Do little things that save you money, like making lunch at home instead of buying a meal deal.  
3. Read your bank statements to see where the money is going.  

Paying off loans  

1. It can be hard to manage your money if you owe others money e.g. credit cards.  
2. It is important to cover the minimum payment on loans. This can help you begin to manage your money again.  
3. Talk to those you owe money to about your situation as well if you are struggling.   

Household bills  

1. Household bills can be one of our biggest spends.  
2. If you have time, you can look at ways of cutting down your bills by ringing your supplier to ask for a better deal. If not look at a price comparison website and see what is out there for you.  

It is understandable to be overwhelmed when you are struggling financially. Take a step back and assess what you have to do. Take the first step by looking over letters, bank statements or online banking. Trying the above steps could help you to get back to feeling more in control of your money.