You should divide your spending into essential items and non-essential items. Essential items can include the most important things like:
- food costs
- your rent or mortgage.
Usually, non-essential spending can be the easiest to reduce. However you may also be able to reduce spending on some essential items. For example, you may be able to switch to cheaper energy suppliers and lenders. We have energy advisers who could help you do this. Call them on 0808 808 00 00.
Regular credit repayments and unsecured loans can often be reduced or stopped while your income is reduced. Unsecured loans are loans that are not backed up by property, such as your home or car. This means there is not the same risk of your property being repossessed if you miss payments. Contact the lender to explain your circumstances.
You can call our financial guides on 0808 808 00 00 to discuss your options.