Money advice and managing your money
If you are finding it hard to manage your money, these tips can help.
Pay priority bills first
Make sure you pay your most important bills on time. These include:
- rent or mortgage
- council tax
- gas and electricity
Keeping your home and being able to heat it and buy food is most important.
Tell creditors if you are struggling
Let creditors know if you cannot make payments. Many will try to help.
If they treat you unfairly, you can make a complaint.
Hire purchase
If you pay for items like a car or appliances on hire purchase, try to keep up payments.
If you miss payments, the item could be taken back. Get advice if this happens.
Credit cards
Paying only the minimum each month can cost more over time.
If your debts are growing, get advice as soon as possible.
Loans and consolidating debt
Before taking out a loan to pay off other debts:
- check the total cost
- make sure you can afford the repayments
Payment protection insurance
Check if you are paying for payment protection insurance on loans or credit.
It can help if you are ill or lose your job, but it may not suit everyone. Always check the terms.
Mental health and money
If you or someone you support has mental health issues, there are guidelines to make sure creditors treat you fairly and offer support.
Get help with money advice
Citizen Advice Scotland can help you manage your money.
They can:
- explain your options
- help you deal with the people you owe money to
- speak to creditors on your behalf
- represent you if your case goes to court