Money worries: help and advice

A guide to options available if you are worried about money and the cost of living.

Debt management

If you have debts your priorities are in this order: 

  1. Rent/mortgage 
  2. Secured loans 
  3. Council Tax 
  4. Energy bills 
  5. Phone/internet 
  6. TV licence 
  7. Court fines 
  8. Overpaid tax credits 
  9. HP 
  10. Income tax 
  11. Unpaid child maintenance 

Borrowing money

If you need to borrow money, it is best to avoid payday loans, doorstep lenders and loan sharks, which will cost you a lot of money.

If you have borrowed from a loan shark or are worried about someone else, Stop Loan Sharks (external website) can help and keep you safe. Stop Loan Sharks investigates and prosecutes illegal money lenders and provides support for borrowers in the UK.

Credit unions

Loans from credit unions are much cheaper and safer, with no hidden charges or penalties.  

Our local credit union is Boom Community Bank. They can provide a current account, lend or look after money for savers. They do not operate to make a profit.  

For more information visit the Boom Community Bank website (external link), email (link sends e-mail) or call 01903 237221.