Money can be a tricky subject to talk about, especially when things feel tight. But starting small conversations about money can make a big difference, whether that’s talking to family or friends, asking for help, or taking a closer look at your own budget.
To mark Talk Money Week 2025, our money coaches have shared a Q&A to help you feel more in control of your finances. From budgeting and saving to finding out what support you’re entitled to, here are some simple steps that can really help…
What’s the best way to start budgeting when there’s not much money left at the end of the month?
Start by creating a simple budget just before or as your money comes in. Write down what you’ve got coming in and what needs to go out. Make sure your essential bills are covered first, things like rent, energy and food. Try to plan for extra costs that pop up now and then, like birthdays or Christmas, so they don’t catch you off guard. Set yourself a goal to stick to your spending plan as best you can and review it regularly.
I’m struggling with rising bills, what can I do if I can’t afford my rent or energy costs this month?
Don’t ignore it, reach out as soon as you can. Speak to your energy supplier and your landlord to explain what’s going on. They may be able to offer support or point you towards organisations that can help. At Yorkshire Housing, we can refer you to one of our money coaches, who can work with you to look at your finances and find extra help, such as energy trusts or water bill reduction schemes. It’s always best to ask for help early as it’s much easier to get things sorted before arrears build up.
How do I check if I’m missing out on any benefits or grants?
You can check what you might be entitled to by using trusted sites like Turn2Us or EntitledTo. We can also refer you to a Yorkshire Housing money coach, who can look at your situation in more detail and make sure you’re not missing out on things like Council Tax Support or Personal Independence Payment (PIP).
How can I start saving, even if it’s just a few pounds a week?
Even small amounts can make a difference. Once you’ve worked out your budget, set up a separate savings account and arrange a standing order for the amount you can afford to save each week or month - ideally just after you get paid. You could also look into joining a credit union, which can help you build savings and may offer low-interest loans if you need one later.
How can I build a small emergency fund for unexpected costs, like a broken boiler or car repair?
Start small and save what you can. Set up a separate account and move a set amount into it every time you get paid, even £5 or £10 adds up over time. A credit union account is a good option too. Regular saving with them can make it easier to access low-interest loans when emergencies happen.
What’s the best way to talk to my children about money?
It depends on their age but being open and honest helps. Everyday moments, like shopping or saving for something special, are great chances to teach them about how money works. There’s also useful advice on the MoneyHelper website: How to talk to your children about money.
How do I talk to my partner, family or friends about my money worries without feeling embarrassed?
It’s not easy, but opening up can really help. Most people have money worries at some point, and you might be surprised how many others have felt the same. Talking things through with someone you trust can ease the pressure and help you find new ways forward. You don’t have to face it on your own. Support is out there, and starting the conversation is a good first step.
How do I avoid feeling pressured to spend too much at Christmas?
It’s easy to get caught up in the pressure to spend but try to focus on what really matters, time with family and friends, not the price tag. Set yourself a realistic budget for gifts, food and social plans, and stick to it. Talk openly about doing things differently. Maybe agree spending limits, try Secret Santa, or focus on homemade or thoughtful gifts instead. Remember, Christmas doesn’t have to mean debt. Planning ahead and keeping things simple can make it just as special, without the financial stress.
Need a bit of extra help?
If you’re worried about money, you don’t have to face it alone. Our money coaches are here to help you take control of your finances, whether that’s checking what support you’re entitled to, helping you budget, or finding ways to ease the pressure. If you’re a Yorkshire Housing customer, speak to your housing officer or get in touch with us to ask for a money coach referral.