How to avoid financial worries during times of uncertainty

It's no secret money worries can rob us of positive mental health, especially during a pandemic. The pandemic has shaken up all our financial plans.

Some have been lucky; they are still earning the same as they were last year and have not been placed on the furlough scheme and lockdown has meant fewer opportunities to spend. For others, this year has been frighteningly uncertain, with no time to think about saving money. To help put your mind at ease, here are some priceless tips that will save you both cash and stress: Benefits to which you are entitled: Have you claimed your support from the Government? There are benefits such as statutory sick pay, employment and support allowance, jobseekers' allowance and personal independence payments for which you may be eligible. Other financial benefits, such as universal credit, can help to top up your income, where the amount you receive depends on what you have already. Applying for universal credit can stop other benefits such as tax credits, so it is worth checking before you claim. Saving the pennies: In these uncertain times when no one knows what's going to happen, now may be a good time to top up your savings. Work out how much you can save and consider setting up a direct debit to a savings account. Transferring an affordable amount of money into the account every month (as near to payday as possible) will help you to avoid spending unnecessarily and give you financial back up for emergencies. It's important to remember that if you already have savings in place, the pennies you put away for a rainy day can be used for these times of uncertainty. If you have received a lower income than usual, make the most of your savings, after all they are there to help at times such as these. Think before you buy: If you want to buy something, vow to wait 24 hours before handing over the money. This will help cut down on impulse purchases and make sure you only buy what you really need. Making it physically harder to spend money can also help. Unsubscribe from promotional emails which tempt you to shop online, and you can also remove saved card details from your computer. The cost of prescriptions: Paying for prescriptions can become quite expensive, especially if you take medication frequently. However, common medication such as painkillers and skin creams are available over the counter in shops such as Boots or your local pharmacy, where you can buy them at a fraction of the prescription price. Alternatively, a prepayment certificate could be a big saver for regular prescription users. It effectively acts as a season ticket; you pay £29.10 for three months or £104 for a year - this then covers all of your prescriptions in that timeframe. Just two prescriptions a month under an annual 'season ticket' could help save you more than £100. Ask for help. If you are struggling with your mortgage, speak to your lender about what help they can offer you. As a result of the coronavirus, payment holidays have become very common on mortgages as well as loans and credit cards. If you are unsure about the support available, we are here to help you discuss your options. Please use the form below to get in touch.