Prioritise finances after this lockdown

We are now approaching the anniversary of the first Covidrelated lockdown, but there is light at the end of the tunnel with the vaccine administration programme.

The government’s furlough scheme has been in effect for most part of a year but with the current scheme due to end soon, it may be time to rethink your finances, writes Ryan Tomlinson

Sitting down, looking at your household bills, and researching to see if there are cheaper options available for you can help you save in the future. In addition to this, the key importance is ensuring that you are paying your bills on time, which will only have a positive impact on your finances – even if you do not think so!

Prioritising your finances based on your income means you can see if there are any unnecessary outgoings from your account which can be prevented to help save expenditure. Whether these are subscriptions or cutting down your shopping bill, by being able to prioritise your finances, you should be able to see what is a ‘need’ and what is a ‘want’ in your finances and be able to make beneficial changes to them accordingly.

If you are currently on Universal Credit, it has been indicated by the government that the £20 uplift will be extended for a further six months, allowing for a slight increase on finances for those who need it. It may also allow you to try to pay off any debts or bills before the uplift is over.

This then results in prioritisation of your finances post lockdown and can offer a relieve to those whose who are anxious about budgeting once the restrictions are loosened.

If you are worried about the impending changes to your finances post lockdown, then the government w ebsite can help provide advice on what assistance you may be able to receive to help reassure you. A

lso, remember that you need not hesitate to ask us at Citizens Advice Portsmouth for help; you are not alone.

For more help on debt, go to the Citizens Advice Portsmouth Youtube channel.