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Financial Wellbeing: Managing your money

Taking the time to manage your money better can really pay off.

Things like keeping a regular budget, becoming aware of your spending habits, and getting savvy at saving could mean you could pay off your debts, buy your next car or holiday, or save towards that house deposit or retirement.

Budgeting

The first step to taking control of your finances is doing a budget. It will take a little effort, but it’s a great way to get a quick snapshot of the money you have coming in and going out.

Learning how to budget and becoming aware of your spending habits can help you stay on top of your bills and outgoings, and potential save you £1,000s each year.

The starting point for budgeting is to work out what you have got coming in. This might seem like stating the obvious, but when was the last time you sat down and spent 30 minutes looking at your personal budget?

There is little point in doing this once a year. It helps you review your finances regularly to take account of changes in your lifestyle and larger one-off outgoings.

Budget Planner

We want to help you know exactly where your money is being spent, and how much you’ve got coming in. Knowing where every pound is being spent is a great first step to starting your savings, getting out of debt or preparing for retirement.

Our Budget Planner can help you to:

  • record all your spending
  • get a breakdown of your finances by category
  • get personalised tips  

Money Navigator

If you’ve got money worries because of coronavirus, you’re not alone. The Money Navigator can give you guidance based on your particular situation. Whether your income is down and you’re worried about your future finances, you’ve lost your job or are facing redundancy, or are self-employed and can’t do your job, Money Navigator can help. Find out:

  • what issues you need to deal with first
  • ways of to staying on top of your bills
  • how to find extra support you’re entitled to where to get extra help.

Money Manager for Universal Credit claimants

If you’re on Universal Credit or think you might be using it in the future, this tool could help you if:

  • you’re making a new claim
  • you're moving to Universal Credit from another benefit
  • you need help budgeting while waiting for your first Universal Credit payment
  • you've recently had a change to your benefit payment

Living with people who aren't paying rent?

Sharing your home with non-dependants (e.g. adult children) who don't pay rent may affect your finances and/or entitlement to certain benefits.

Are you facing a short-term cashflow issue?

When you’ve got essential costs to meet, pay day can seem a long way off. Below are some options that you may wish to explore.

Are you concerned about the energy crisis?

The Energy Crisis has hit the UK, adding to the financial worries of thousands of our members. Here we outline some options to cut costs.
HCA money guide

NSW money guide

for Nursing Support Workers

NQN money guide

NRN money guide

for Newly Registered Nurses

Student money guide

Student money guide

for nursing students

Money worries

Advice if you're worried about your  finances, rent/mortgage, or debt, as well as information on charitable funding, financial aid and where to seek support.

Help with benefits

If you're confused by the benefits system, have questions about changes to your benefits, or need to challenge a benefits decision, we can help.

Are you looking for a bursary?

If you are looking for a bursary, there are funds available including from the RCN Foundation.