Help! I've run out of money. - Money For Life (2024)

Crisis Support

You’re down to your last couple quid, there are a dozen bills to pay and only a lone tin of spaghetti hoops in the cupboards. Many of us have been in this position but don’t panic, here’s our top tips for when you’re facing a cash crisis.

My cupboards are empty, what should I do?

When money is tight, it’s easy to skip meals but it’s important that your health doesn’t suffer. Here are some ways to tide yourself over so you don’t starve:

• Go home, or ask family for help. We know this isn’t an option for some of you but if you can, asking for help from family is your safest bet.
• Using food banks: It’s not a long-term solution but they can give you the essentials to keep you going if you have no other options.
• Find deals: Ways to save money on your grocery shop, could include going to supermarkets at the end of the day when some food will be discounted.
• If you can't afford pet food, check out the Dog Food Database.
• Go big: Make a big pot of food, portion it out and put it in the freezer so you have dinner sorted for the week.

Arggh, my benefits haven’t come through and I need cash now

You think you’ve filled in all the right forms and ticked all the right boxes but your benefits can still get delayed or sanctioned. If you’ve run out of money, you can apply for:

• Hardship payments: This is a reduced amount of benefit, which is available if you have no other way of covering essentials such as food, heating or medical supplies.
• Short term benefit advances: Available if you’re waiting for a benefit claim to be processed, haven’t been paid your benefit on the due date, or are waiting for your benefit to go up because of a change of circ*mstances.
• Budgeting advances or budgeting loans: For help with one-off payments such as rent, removal costs or furniture for your new home.

I can’t get benefits, what should I do?

Sadly when it comes to government benefits there are a few cracks that people can fall through. This means you need a Plan B in your pocket just in case you don’t qualify for the benefits you need. Here are some other options:

• Borrowing from someone you trust, like a friend or family member: This plan all depends on whether they have any cash to spare and how comfortable you feel about asking. It can be awkward but in terms of avoiding debt, it’s the safest place to start.
• An agreed overdraft: An overdraft is something the bank can add on to your account, which allows you to spend money you technically don’t have. Make sure you agree it with the bank first and don’t spend more than you’ve agreed or you could rack up hundreds of pounds in overdraft fees.
• Local welfare assistance schemes: Useful to help with essentials such as heating your home or food bills.
• Credit union loans: Credit unions specialise in offering loans at low rates and helping members who need financial help.