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Are you being affected by the rise in the cost of living?

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There’s no getting away from the fact that things are tough for many of us right now and the rising cost of living is having a significant impact on our pockets. It’s affecting so many of us in lots of different ways and if you find yourself affected it’s certainly nothing to be embarrassed about. We’ve pulled together some hints, tips, and tools which we've come across that you may find useful.

We’ll add more information to this page which we think you may find useful as we come across it, so it’s worth checking back from time to time.

Worried about missing your loan repayment with us?

If you find yourself in a situation where you’re worried about making the repayments on your loan, then please talk to us. We’re here to help and we know this is affecting lots of people. It’s important to ask for help as soon as possible, both for your own wellbeing and to ensure that your situation doesn’t worsen.

There's several tools already available to you in your online account to help you manage your repayments, for example requesting a reduced repayment plan, or getting some much needed ‘breathing space’ whilst you work out what you can afford. Of course, if you’d prefer to speak to us there’s lots of ways to contact us and we’d encourage you to do so as soon as possible.

Log in to your online account to access these tools.

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Worried about missing your loan repayment

What to do if you find yourself struggling

Talk to us and the other companies you owe money to

If you’re unable to meet your regular repayments on your credit products, the worst thing you can do is ignore it. Many creditors are more than happy to help you find a way to get through whatever challenge you’re facing. They’re there to support you and will have a range of options available for you. Talking to your creditors should be one of the first things you do once you know you’re unable to meet your repayments. Money Helper has a great section on their website for help and advice about talking to creditors.

Check what help and benefits you may be able to access

It might be a good idea to check if there's any help and support available to you right now. A good starting point for this is to check out the Money Helper website where they have lots of help and information about benefits and what you may be entitled to. The Citizens Advice Bureau is also a great place to get information so its worth paying these websites a visit.

There’s also a handy benefits checker tool we’ve come across which is powered by Entitledto, an independent organisation whose mission is to help everyone access the benefits they’re entitled to. You can access this on their website here.

Don’t ignore your debts

If you find yourself struggling to pay your basic outgoings each month and find that your debts are bigger than your yearly take home pay, then you may well be in debt crisis. If you're in this situation, the worst thing you can do is ignore it. There’s lots of free help and support available which you should consider accessing. We’ve listed some of these below for you.

Money Helper

Citizens Advice Bureau



National Debtline

If you find yourself struggling

Some tips to help ease the pressure

Create a budget

Budgeting could be one of the best things you can do to help you manage your money a little better. Having a budget in place, and understanding where every pound goes, may help you reduce your spending and make the most of the income you have. It’s also a great way to see if there’s anything spare to save every month.

Money helper has a budgeting tool which could help you with this.

View planner >

Prioritise your bills

When you have multiple things to pay if can be difficult to know what to pay first. We think you should aim to pay your priority bills first, for example your mortgage and utility bills. Next make a list of your other obligations. If you're struggling to pay your priority bills then don’t hesitate to get in touch, so we’re able to do what we can for you to potentially ease this situation. Money Helper has a tool that can help you prioritise your bills should you need help.

View prioritiser >

Try and save if you’re able to do so

If you find that you’re on a low income, there may be schemes available to help you save. Help to Save is one of these. It’s backed by the government and allows certain people to get a bonus of 50p for every £1 they save over the course of 4 years. You can pay in a maximum of £50 per month – and you don’t have to save every month if you don’t want to. At the end of the second and fourth year you’ll receive bonuses depending on how much you’ve saved.

View Help to Save >

Managing your energy bills

With energy prices soaring many of us are finding our monthly energy bills increasing dramatically. In fact, the National Energy Action charity have estimated that from October 2022 the number of UK households in fuel poverty could reach 8.2 million. The National Energy Action Charity have a great advice section on their website that covers everything from the cost-of-living support package, announced by the government, to making your home more efficient and even tips on changing the way you use energy to help you reduce your consumption.

National Energy Action >
Managing bills

Helpful websites and links for free support and advice

All these organisations offer free help and support for people who are concerned about their money, worried about debt or struggling with mental health. We’ve added the links below to their websites.

  • National Debtline – a charity giving free and independent debt advice over the phone and online.
  • Citizens Advice bureau - can help with advice and information for a variety of different things including debt and money help.
  • Money Helper – a government backed organisation which has lots of free help and support including handy tools to help you manage your money.
  • Step Change – will provide free debt help and advice to help you deal with your debts and get the support that you need.
  • Mind – if you feel like money worries are affecting your mental health then Mind could provide you with the help and support you might need.
  • National Energy Action – a national charity working to end fuel poverty. They can offer advice on energy bills and keeping warm and safe at home.

Please note we’re not responsible for the content of third-party websites or links on this page.