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Managing Debt

Often a change of circumstances such as losing your job, an addition to the family, illness or disability can affect your ability to cope with rent, Council Tax, and other bills.

If you fall into debt, please do not ignore the problem, as there is a risk that it could get worse.

Make sure you get in touch with the people that you owe money to as soon as possible and explain your problems.

Remember, your rent should always be your top priority!

There is always help available; for more guidance and advice, please visit Step Change

Or, for a free confidential money health check please visit the Money Helper

Remember, you can always contact your landlord to confidentially discuss your finances and they may be able to refer you to other services that can help you.


Get on top of your finances

If you are trying to better manage your finances, it is essential to keep track of how much money you have coming in (income) and how much money you have going out (expenditure).

If you have more going out than coming in, you can consider the following:

Increase your income

  • Could you increase your hours of work?
  • Have you checked your benefit entitlements?
  • Is there someone living with you who could be paying you some board?

Reduce your outgoings

  • Are there any non-essential things on your outgoings list, which you could cancel until your financial situation improves? For example: Streaming services, gym membership
  • Can you reduce other items such as grocery bills?
  • Can you change your Broadband, TV, mobile phone or your energy supplier? Are they the cheapest for your needs? Consider switching to save money by using online comparison websites.


Downsizing and reducing your bills

If your home is larger than your current and long-term needs, you may find that your landlord could offer you a financial incentive to downsize. You could even receive a lump sum payment or help with removal costs.

There are some exclusions and the amount you receive may be determined by how many bedrooms you have downsized to.

To find out more, please check with your landlord to see what incentives they have available to you.

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House Exchange is a joint initiative between Clarion Housing Group and 101Smart Ltd.

Clarion Housing Group Limited is a charitable registered society (Reg No 28038R). Registered with the Regulator for Social Housing (Reg No LH4087) VAT No (675 646 394). Registered office: Level 6, 6 More London Place, Tooley Street, London SE1 2DA.

101 Smart Ltd is a registered limited company in England (Reg No 5294196). Registered office: Unit 15 Beech Avenue, Taverham, Norfolk NR8 6HW.