1. Write down all of the income / benefits you receive. If you are working, check your pay slips for accurate figures for pay. Include any pensions you might be receiving and also include benefit income, which you can find on bank statements / benefit letters.
  2. Add up your total income to give you a final monthly figure of all the income you receive.

TIP: Don’t forget it’s easy to change weekly into monthly simply multiply by 52 then divide the answer by 12! 


It is important to list all important payments such as food/housekeeping, Mortgage/Rent, Council Tax payments, Utilities, Court Fines etc. (These are called ‘priority’ payments.)  If you have a bank account, check all of your monthly direct debits coming out of it.  Once the expenditure figures have been filled in, the next step is to work out if you have any surplus (spare) income left for your creditors: income minus expenditure.

If you have surplus income available, it is very important that you deal with the priority debts first and clear those outstanding balances. Priority debts include mortgage/rent arrears; council tax arrears; gas/electric arrears; TV licence. If you then have any remaining surplus income, then this amount can be paid towards your non – priority debts, which include credit/store cards; overdrafts; unsecured loans; catalogue debts; payday loans.


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