Money can’t buy happiness, but lack of it can lead to great misery. Don’t be afraid of being cautious sometimes, if it means you can afford what you need later.
Grants are a type of financial aid that does not have to be repaid. It is a sum of money given by an organisation, especially a government, for a particular purpose such as education, starting a business or for a community-serving project.
Claim Child Benefit as soon as your child is born or comes to live with you. It can only be backdated for 3 months – so make your claim as soon as possible.
Know your consumer rights – but don’t just rely on them. Remember to use common sense when looking at ‘deals’ and be a bit sceptical.
In the UK, postal mail scams cost individuals a total of £3.5 billion each year, according to government figures. The elderly are often most severely affected, typically losing £1,200 each, twice as much as younger age groups.
You get Child Benefit if you’re responsible for a child under 16 (or under 20 if they stay in approved education or training) – £20.30 for the eldest and £13.40 for additional, per week.
When you rent a house or flat you have to pay a deposit – often one months rent. When you move out, make sure it’s in the same condition as when you moved in or you may not get the deposit back.
When you pay with a debit card, the money comes directly out of your account. It’s basically the same as withdrawing cash on the spot and handing it over – but safer because there’s a bit of fraud protection and the card is easy to cancel if it’s lost or stolen.
A credit card lets you spend money on credit (borrow it from the bank). You can spend up to your credit limit, which might be a few hundred or even a few thousand pounds, depending on how confident the bank is that you can pay it back. It is usually advisable to pay off the bill every month – if you do you won’t pay interest on what you borrow. If you don’t pay the bill off in full the interest can be very high.