Quick answer: Build a small cushion, avoid expensive debt, and get free advice early if you fall behind.
Once you have your own home, money decisions have bigger consequences. Here are the basics.
Key points
- Try to build a small emergency fund, even a few pounds a week.
- Be careful with payday loans and expensive credit.
- Pay essential bills first. Rent and energy come before most other debts.
- If you are in debt, free help is available from StepChange, MoneyHelper and Citizens Advice.
- Your credit record builds over time, so pay on time when you can.
A tip
Never pay for debt advice. Free, trusted help is available.
About the video
The video at the top of this page is by Looking After Your Pennies on YouTube. We picked it because its title is "Personal Finance for Beginners UK | Money Management". We did not make it, and rules and amounts change, so use the official links at the bottom of this page to check the details for your situation.
Sources and official help
This guide is general information, not legal or benefits advice. Rules and amounts change, so check the official links above or speak to Citizens Advice or your council before you make a decision.