Money’s Tight?

Managing your money

Sometimes your pay cheques don’t cover all of your costs. 
What do you do?

Try this simple five-step process.



Can you increase your income through more hours or freelance work?

Have you anything you don’t need that you could sell using, e.g. e-Bay or Gumtree?

Are you claiming all the benefits you are eligible for? You can get help here:



Review all spending and categorise it (food, drink, housing, travel, phone, entertainment etc) You can use our spreadsheet here.

Prioritise into essential (e.g. rent, food, utility bills), important (e.g. petrol, clothes) and nice-to-have (e.g. entertainment, coffees, meals out and take-aways)



Review the nice-to-have spending.  Can you reduce this by, for example, limiting the number of coffees, sandwiches or take-aways you buy?

Review the essential and important spend; can you get better deals? 

  • Can you use more cost-effective supermarkets, such as Lidl or Aldi?
  • Can you use less expensive forms of transport more often?
  • Are your banks and credit card suppliers charging you fees?  Can you move to fee-free banking services?
  • Are you getting the best deal for your energy needs?  Websites such as or can help.

Review all your subscriptions.  Are there any you no longer use?  Can you reduce the number of you pay for?  Do you need all the subscriptions for the streaming services and magazines you have?

Review your broadband and telephone services?  Do you need to pay for a landline if you have a mobile?  Can you move to a SIM-only contract for mobile services once your present contract ends?  Do some comparisons then seek a good deal. Negotiate if you can!



  • Calculate the average spend in each category of expenditure
  • Do the sums … does your income cover your expenditure?  If not, look at your income and your spend priorities again
  • Don’t forget holiday, Christmas and birthday spending
  • Don’t forget regular savings and charitable donations
  • Set a realistic budget by category



  • Review your spending at least once a month
  • Consider having two current accounts, one for essentials (paying most bills by standing order or direct debit) and one for the rest. Check potential fees first!
  • Consider using a pre-paid credit card or a debit card linked to your non-essentials bank account (make sure it does not have an automatic overdraft)
  • If you are tech savvy, consider using one of the free money management apps.  Many banks, such as Monzo, Starling, Lloyds and Barclays provide spending analysis and advice.  Alternatively, free apps such as Emma and Money Dashboard can link directly to all your bank accounts and provide visibility and automatic categorisation of all your expenditure. 

Why Churches Mutual?

Ethical • Competitive • Friendly • Transparent

We offer competitive, affordable loans and ethical savings to lay or ordained ministers, employees or trustees associated with our partner churches. Our friendly personal service provides direct access to a member of our expert, impartial staff advisors.

Get in touch

For Financial Wellbeing Enquiries please fill in the form below. Or call us on 01452 930 360

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