Help
Managing Your Money
If you’re feeling the pinch, here are some steps you can take to save money – and boost your household budget.
Make savings
There are some monthly costs you have to budget for, like your mortgage, council tax and insurance. But you can save money by cutting back on non-essential items or switching to cheaper options. If you make a list of all your outgoings, including everything you buy, it’s easier to see where savings can be made.
Maximise your income
Have you checked your tax code recently to make sure you’re paying the right amount of tax? Are you entitled to any allowances or payments such as child benefit, family credit or a carer’s allowance? A quick phone call or a few minutes online will give you the answers.
Check your cover
For essential cover like car and home insurance it’s always worth shopping around for the best deal. If you have separate policies for things like your mobile phone and glasses, or you’ve taken out extended warranties, you could be duplicating your cover – and paying more than you need to.
Use credit
If you have credit cards or loans, switching to another provider could save you a lot of money. Some credit cards offer 0% interest on purchases, which can help to spread the cost of shopping, as long as you make regular payments on your account.
Go bargain hunting – and make the most of rewards
Even when your budget is tight, you still have to buy the essentials. To get more for your money, go for the special offers when you’re out shopping. And use credit cards that give you rewards or cashback.
Get expert advice
If you’re struggling with your mortgage, loan or credit card repayments, talk to your provider. They’ll review your repayment schedule and look for ways to get things back under control.
There are also independent organisations who give free, confidential advice on debt and other financial problems. They’ll even speak to lenders on your behalf, if you want them to.
Consumer Credit Counselling Service (CCCS)
Financial Services Authority (FSA)
Talk to us
If you have an M&S Credit Card or M&S Loan and you’re concerned about your financial situation, please call us on 0845 900 0900.
