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Money, money,
money
The source of joy and the source of stress, money is something
we all have to learn to manage at some point. For any advice
the Citizens Advice Bureau is there to help with a place in
Ampthill and a place in Biggleswade (see end of article for
info).
Some tips for keeping it all under control…
keep a record
…like a bank statement, to see regular spending patterns.
This will help you to…
plan!
Write down what’s coming in, what’s going out and
what you will need in the near future (see budgeting, below)
SAVE!
Use your plan to help you save the right amount, at the right
time.
cashpoint
Try not to withdraw money too often – maybe just once
a week?
Budgeting
What do you have coming in?
| item
|
Amount
(weekly/monthly) delete where applicable |
| pocket
money |
|
| wages
|
|
| benefits |
|
| other |
|
| Total
income |
|
…and going out?
| item
|
Amount
(weekly/monthly) delete where applicable |
| going
out with friends |
|
| food
and drinks |
|
| make-up
|
|
| CD’s
|
|
| DVD/Videos
|
|
| cinema
tickets |
|
| computer
games |
|
| other
|
|
| Total
income |
|
results
subtract your TOTAL
of incomings from TOTAL outgoings.
Is the result
more than 0?
This leaves you with what you have to spend before you get
paid again. You may want to squirrel some of this away..?
Bang on 0?
You are spending the same as you are getting. Could you make
some cut backs as this may help you to save a little or have
some set aside for emergencies?
Less than 0?
You are spending more than you can afford! You need to start
making some cut backs or you will find yourself in the dreaded ‘D’ word – debt!!
3 Frequently Asked
Questions…(with answers!)
Ql I had always worked since leaving school 3 years
ago, but now my job has ended I have loads of debts. What
can I do?
Al The best thing you can do is get down to your local
advice service or CAB for some free and confidential advice.
Before going, it will help if you get a few details together:
- Get details of all your creditors (people you owe money
to) including name, address, account number, how much you
owe, and what your normal repayments would be.
- Check if you have any insurance that may cover some of the
debts when you are out of work.
- Do a rough ‘financial statement’ or budget of
what money you have coming in, and what you are spending money
on (rent, food, gas, etc).
Your local CAB
will be able to give you free and confidential advice about
how to deal with debts. At Mid Beds CAB we will also do a
benefit check to see that you are getting all the benefits
you are entitled to.
The service can also help to negotiate with creditors on your
behalf when necessary.
HOUSING
Q1 I need to leave home urgently. Will I get housing
from the council?
A1 The council does have a duty to provide accommodation
for a young person who meets the homelessness provision of
the Housing Act. The council has a responsibility to accommodate
a young person under the Child Protection Act if: -
- No one has parental responsibility for you, or
- The person caring for you is unable to continue to provide
suitable care or
accommodation, or,
- You are 16 or 17 and the Council thinks your welfare would
be seriously prejudiced if it does not provide accommodation.
You should talk
to an advice agency about your situation as soon as possible.
Q2 I want
to rent a flat but I am only 17. Can I do this?
A2 There are no legal restrictions on a person under
18 renting accommodation. However, landlords, including the
local authority, may require a guarantor before giving a tenancy
to someone under 18. There may also be restrictions on the
amount of housing benefits that you can claim. Housing benefit
for a single person aged under 25 with no children may be
restricted to what is called the local ‘single room rent’.
BENEFITS
Q1 I am 16 years old and have no job. I am not in school
or any form of education. Can I claim any benefits?
A1 16 and 17 year olds do not usually get benefits
unless they are available for work-based training for young
people.
You must first register for work and training with the Careers
Service. You will only qualify for income-based jobseekers
allowance if you fall into a specific category. If you do
not you may be entitled to Jobseekers Allowance under the
severe hardship rules.
You will be eligible for income support in your own right
if you fall into one of the
categories of people who can claim, e.g.
· You are incapable of work because of illness or disability.
· You are a lone parent caring for a child under 16
(this list is not exhaustive)
If you are not living at home you can claim Hardship Allowance.
If you are still living with your parents then no you cannot.
For any further information or if you are worried & would
like to talk things over with someone, why not contact the
Citizens Advice Bureau? Details below…
 Mid
Bedfordshire CAB
Ampthill
10 Bedford Street
Monday to Friday
10:30am to 2:30pm
(Appointments only on Fridays).
Telephone 01525 404511
Biggleswade
Market Square
Monday to Friday
10:30am to 2:30pm
(Telephone Service only on Fridays).
Telephone 01767 314961
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