If you are facing a financial problem or crisis one of the first things to consider is whether you are receiving all of the money to which you are entitled. Your income may come from a number of sources including earnings, state benefits and tax credits.
You should check:
- Your tax code. If this is incorrect you could be paying too much tax. Look at the section in the web link below on Understanding your PAYE tax code for further information.
- That you are claiming any tax credits to which you may be entitled
- That you are claiming any state benefits you might be entitled including council tax benefit (or reduction if you live alone), housing benefit, or perhaps disability benefits
In addition, you should consider whether you can increase your income in other ways including:
- Working overtime in your current job
- Taking an additional part-time job that will not conflict with your current job
- Renting out a room in your home under the tax-exempt rent-a-room scheme
If these steps do not resolve the problems you face you will need to review your personal household budget to understand how you are currently spending your money, and whether there are any areas where this can be reduced.
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