Money matters - Budget Boot camp
I can’t afford to budget
Ok, let’s just deal with this excuse head on. You can’t afford NOT to budget! Debt costs you money, sleepless nights and Worry. It costs you absolutely nothing to create a budget and a plan for allocating your income. You’ll regain peace of mind and your worry will turn into hope for a better tomorrow and a better financial future. Budgeting is not only for those who have limited incomes, although you may be surprised to know that out of the small percentage of people who actually do budget, individuals with substantial wealth not only have a monthly budget but track their expenses very closely. Why? Because this small financial practice is what helped them grow their wealth in the first place!
Why is having a budget good for you?
It will make you financially aware and informed, especially about where your money is going every month. You’d be surprised how many ask themselves this question by each month’s end: Where did all my money go? It will help you spend with purpose. It will chart a course towards finance.
If you suddenly find yourself in financial difficulties or experience an unexpected change in circumstances, you may be eligible to apply for emergency financial help through the Student Support Fund.
Bank account stuff, Santander and Imperial College London
Martins money tips
Budget sheet-Not everything will apply to you here on this budget sheet
Debt solutions we can advise you about
A Debt Management plan: is an informal agreement between you and your creditors for paying back your Citizen Advice www.citizensadvice.org.uk or Step change
Debt Relief Order: if all of the following things apply to your unable to pay your debts. You have debts up to £20,000, you’ve got £50 or less left over each month after you’ve paid your usual household expenses, you don’t own your home, you don’t have other savings or things of value you own, called assets which are worth less than £1,000 (some assets are ignored when working out the value),
You’ve lived/ had a property, or worked in England or Wales in the last three years.
Bankruptcy:be suitable for you if all of the following apply:
An administration order is a formal, legal debt solution which means it's approved by the court and your creditors have to stick to it. To get an AO you must have debts that are no more than £5000 in total an unpaid county court judgment (CCJ). This includes a traffic penalty registered for enforcement in the Traffic Enforcement Centre at Northampton County Court. Also You must have two or more debts. If you don’t have a county court judgment and you want an administration order you will need to wait for one of your creditors to take court action against you. As soon as judgment is entered you can apply for an administration order.