Savings & Budgeting

The first step to taking control of your finances is budgeting. It’s a great way to get a quick snapshot of the money you have coming in and going out.

Getting your budget back on track

If you’re spending more than you have coming in, you need to work out where you can cut back.

You could also keep a spending diary. Or, look at last month’s bank statement and work out where your money is going.

Get everyone involved

Get everyone in your family involved with keeping to a budget. Sit down together and make a plan that you can all stick to. Work out how much spending money is available and agree between you what you’ll each have.


Some people find it hard to get motivated about saving, but it’s often much easier if you set a goal. Your first step is to have money to fall back on if you have an emergency, this could be useful in your first 5 weeks of transferring to UC.

Credit Unions

The best way to save money is to pay some money into a savings account every month. A Credit Union savings account might be for you if: you want a flexible account that lets you save what you can, when you can.

The Knowsley Mutual Credit Union can help – find out more at

To find other credit unions click here:

Here to Help

If you need support applying for Universal Credit or on any of the points covered here, please get in touch.

Speak to one of our friendly advisors today

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