Manage your money and get ready for your future guide

A wide range of support is available with the government’s Help for Households campaign.

The Help for Households campaign covers cost of living payments and financial help if you are disabled or have a health condition. There’s also a tool so you can check what benefits and financial help you can get.

As part of cost of living help, Dorset Council is working with Citizens Advice to offer free, confidential and impartial support. They can help you in a range of areas, including:

• money worries
• accessing affordable food
• housing and employment rights
• looking after your mental health

It's important to make sure you get all the financial help you're entitled to.

See What benefits you can claim.

Citizens Advice offers  information on benefits and tax credits if you are:

• working
• unemployed
• sick
• disabled
• a parent
• a young person
• an older person
• a veteran

There is also information about:

• Council Tax
• housing costs
• National Insurance
• payment of benefits
• problems with benefits

Age UK’s Benefits Calculator can help you find out which benefits you could be entitled to now and in the future. It's free to use and the details you provide are kept anonymous. Based on the information you provide it can tell you if you might be entitled to claim extra money. You can also call Age UK on 0800 678 1602.

Learning to budget can help you stay on top of your bills and may save you £1,000s each year.

The government’s Money and Pensions Service offers a beginner’s guide to managing your money. It will show you how to set up a budget and get it back on track if you currently have more money going out than coming in.

If you have a pension question, the Money and Pensions Service offers impartial help.

If you have missed more than one debt payment, a confidential conversation with a trained and experienced debt adviser could help you find the best way forward.

A debt adviser can:

• give you advice on better ways of managing your money
• check to see if there are any benefits or entitlements you might be able to claim
• tell you about the ways of dealing with debts that are open to you
• get you out of debt faster

The government’s Money and Pensions Service will find a free debt adviser. You can connect with them online or by phone.

If you are behind with paying your energy bills, or finding them hard to pay, Citizens Advice offers advice about negotiating with your suppliers. 

Get advice on what you can do about debt with Money Helper.

It’s easy to lose touch with one or more of your accounts.

You may have moved addresses or had an account opened for you as a child that you have forgotten about. Age UK say that in the UK millions of pounds lie unclaimed in inactive accounts.

It's free and easy to check if you have any:

• dormant bank accounts
• insurance policies
• pensions
• premium bonds

If you think you may have a lost account Age UK can take you through the steps to reclaim the money.

Check you get all the money you have a right to.

Learn how to keep some money for your future.

You can:

• find out how to only spend only some of your money with a budget (Money Helper)
• speak to someone to get free advice about money. Contact the Money and Pensions Service
• ask to get advice about money in person, contact Citizens Advice
• learn about financial help you can apply for if you are an older person on a low-income (Friends of the Elderly). You'll need to ask a professional to help 

Many people need to save more for the future.

An average Dorset earner needs twice as much as the State Pension to live the life they are used to.

And if you do not qualify for financial support, you will have to pay for care too.

You can get ready and plan for your future by:

• checking the amount of state pension you are likely to have (GOV.UK)
• finding out if your pensions will give you the money you wish to live on (Government Pension Calculator)
• finding out if you might qualify for financial help with your care fees or not so you can plan ahead (Money Helper)
• getting ideas on what to do with your money (Money Saving Expert)
• getting free independent tips on what you can do with your money. Contact the Money and Pensions Service
• finding out how to speak to someone in person to get advice on budgeting (Citizens Advice)
• finding a professional in Dorset who can advise you on where to put your money (Solicitors for the Elderly)

Many people have to pay something towards their care. Paying for care means you get more choice over a carer or a care home.

If you pay for all your care yourself, it can cost £420 a week for 2 hours of homecare a day. If you need to go into a care home, costs per week in Dorset are more. It might cost £1,000 a week – or more if you choose somewhere more luxurious.

You can get ready for when you need care by:

• finding out if you might qualify for financial help with care, or will need to pay for all your care yourself
  • Paying for your care
  • Money Helper
• seeing how much you might need for care and support in the future (Home Care Association)
• learning more about equity release (Money Savings Expert)
• reading about Deferred Payments, if you are interested in this option:
  • Deferred Payment Agreement
  • Which?
• find out whether you need expert advice before making big financial decisions like re-mortgaging your home (Citizens Advice) 
• see who can give you financial advice in Dorset for a fee, including on paying for care (Society of Later Life Advisors)

You can say what happens to your money if you fall ill, cannot make decisions, or die. You can then get on with life, knowing this is taken care of.

You can choose someone you know to manage your money when you cannot. Giving them power of attorney means your bills and care will be paid for whatever happens.

So be ready for whatever might happen by:

• giving someone power of attorney (GOV.UK), calling 0300 456 0300 if you need help filling out the application form
• considering if you want to use a solicitor to give power of attorney. You don’t have to use a solicitor, but you can use a Dorset solicitor near you if you wish (Solicitors for the Elderly)

And you can decide who to leave your money to by making a will:

• find out how you can make a will (GOV.UK)
• ask Citizens Advice questions about making a will for free:
  • for central Dorset, Dorchester, Gillingham, Sherborne and, Weymouth and Portland contact Citizens Advice Central Dorset
  • for East Dorset, Purbeck or Bridport contact Citizens Advice in Dorset
• find a professional in Dorset who can advise you on making a will for a fee (Solicitors for the Elderly)