Budgeting

The best way to stay out of debt, or plan repayments if you're already in debt, is to work out a personal budget and stick to it. A budget will help you to work out how much spare cash you actually have.

A good way to begin is by using an online budget calculator. Just type in your regular bills (for example, rent and council tax) and the calculator will then work out your budget for you.

• Use ask:ted's free Budget calculator.
• Download the budget planner(PDF, 20k) and fill it in by hand. This might be useful if you want to keep a record of what you spend on different things.
• Read a guide to creating a personal budget and managing your money on the DirectGov website.
• Check out Face2Face with Finance, a Royal Bank of Scotland website with tips and tools for budgeting.

Quick tips for saving money

Keeping to a strict budget each month isn't always enough, especially if you're in debt. It's helpful to have a close look at your outgoings to see whether you could be paying less.

Here are some useful tips for saving money on everything from electricity and groceries to days out with the children. Remember, even if you only make small saving here and there, these add up to big savings over time!

• Get a bank account. It's often cheaper to pay bills by direct debit, and shopping online using a debit card can be cheaper too. You can now apply for a basic bank account even if you haven’t been able to in the past.
• Find cheaper days out in Wakefield or find bargain trips to other places on the Day Out With the Kids website.
• Save money by using less energy in the home - read our top ten tips.
• Visit the Moneysavingexpert website for tips on how to save money on shopping, bills, banking, transport, travel and more.
• Compare prices to find the best deal on electricity and gas suppliers, home phones, insurance, bank accounts and more, using websites that compare prices such as Moneyexpert, Energyhelpline , and uSwitch.
• Use the discount vouchers offered by many shops. You can use some of these only if you buy online, so it's worth getting a debit card if you don't already have one. The Quidco website offers discounts and direct cash back when you buy products through their site.
• Food you prepare yourself can be cheaper than buying ready meals or going to a take-away. Read our tips for cheap, healthy eating.
• Save in advance for Christmas - avoid starting the new year in debt.
• Don't pay high interest rates. You can now get an affordable, low-interest loan.
• Live cheaply! The Frugal website has tips on a range of ways to save money on food, cleaning products, internet connections and more.