Other budgeting costs

Child care costs

If you have young children you may need to consider the cost of child care if your child attends a nursery or is cared for by a childminder. Follow this link to find out if you are eligible for help towards the cost of child care

Leisure Activities

You will need to consider the cost of school trips and after school clubs if you have school aged children. You may have a hobby or a membership to a club or gym which you pay for. 

Loans

You will need to take into account money you already pay out for loans, credit cards and hire purchase when budgeting for your new home.   

Saving money for the unexpected

Saving is important so you can replace items within the home that break such as your washer machine and to save for special occasions such as birthdays, Christmas and social outings with friends and family.

Saving money to prepare for your new home

Moving into a new home can be very expensive so you must save to pay for a removal van and to decorate and furnish your new home with items such as a cooker, fridge, beds, carpet, settee and curtains as these will not be provided in your new rented home. If you have a furnished home already, some of the items you have may not fit in your new property, such as carpets and curtains, so you may need to consider the cost of replacing them. You may also need extra furniture if moving to a larger property.  Here are some tips: 

  • Don’t be tempted to borrow from a doorstep seller, illegal money lender or any other high interest lenders to move and furnish your home as you may find it difficult to repay.
  • Don't impulse buy. Think about it before you buy. Consider if you can afford the item. Did you shop around for the best deal? You may find it cheaper elsewhere.
  • There are a number of charity shops in Tamworth that sell good quality affordable furnishings and there are recycling collection services who are open to shoppers which can be found listed on the Staffordshire Recycle Network here
  • If you are in receipt of Income Related Benefits you may be entitled to a Budgeting Loan. Find out more information and find out if you are eligible for a Budgeting Loan here.
  • If you are receiving Universal Credit you may be entitled to a Budgeting Advance Loan, this replaces the Budgeting Loan above and can be applied for through your local job centre. Be aware the Budgeting Loans do have to be paid back.     
  • If you are experiencing exceptional hardship you may be entitled to help from the Local Crisis Support Scheme. This is not provided in cash but in the form of food, clothing, furniture, heating etc.

 

Costs to consider if you already have your own home

You may know how much it costs to run a home but if you are considering moving to different property your outgoings may increase such as Rent, Council Tax, Gas and Electric. There may also be extra costs that you don’t pay at your current property such as Service Charges. If you move further away from your place of work or your children’s school you will need to consider the extra travelling costs.

If you are on a low income...

To find out if you are entitled to help towards your housing costs or Council Tax, please use the online benefit calculator here . If you have any difficulties using the online calculator you can contact the Benefits team on 01827 709709.

If you are a Universal Credit claimant the housing cost element will be paid direct to you and it is your responsibility to pay your rent. If you do not pay your rent, this may lead to the loss of your home. Follow this link to find out more about Universal Credit.

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