Managing your money during the coronavirus pandemic

The coronavirus pandemic has turned everyone’s lives upside down, with many people being furloughed, or losing their jobs. With rent and bills to pay, this can make managing your money stressful, but we’re here to help. Throughout this page you’ll find articles, tips, support and information on how to manage your money now and in the future.

Take an online money management course

Sign up to our e-learning course and build your confidence in managing your money. Created in partnership with MyBnk, this course will help you feel more in control of your finances and teach you about the different types of support that are available if you’re struggling with money.

More money support & information

Things are moving very quickly at the minute, and it’s completely normal to feel worried and anxious about money. You may feel uncertain about what the future looks like for you, whether you’re safe in your job or whether there’s hope at the end of it. We’ve worked with MyBnk to create content that’s here to help you.

And remember we’re just on the other end of the phone, or a forum post.

Financial health check – with MyBnk

Get your money MOT with our Financial Health Check chat below, created with the charity MyBnk.

Join us on social!

Looking for money support and information from the comfort of your own sofa? Follow us on social to get videos, tips and tricks on your finances and life!

Financially surviving the coronavirus pandemic

Nick Smith Patel is Head of Education for young adults at MyBnk. We asked him some of the questions you had about managing money during a pandemic, and how to get a hold on your finances. Watch this video to hear his expert tips and advice.

What is our community saying

FAQs

What is an overdraft?

An overdraft is something a bank or lender can give you, as an extension of the money you already have. An overdraft means you can withdraw money beyond what you have in your bank account – so when your bank balance is showing as £0, your overdraft allows you to have some money, however this can be at a charge. You can read more about overdrafts here.

Where can I get support managing my money?

While we’re not financial advisors, we can help you. Our helpline is able to signpost you to over 16,000 organisations that can help with all sorts issues. So, if you’re feeling anxious, need some advice and don’t know where to turn – call us, and we’ll help you.

Also, don’t forget we offer an e-learning course on money management that you can take in your own time! 

Where can I get emergency money?

There are a number of options if you’re in need of emergency money. We recommend reading our article ‘Help! I’m broke and need emergency support’ for more information.

How much is statutory sick pay?

At the moment, statutory sick pay is awarded to you for when you’re too ill to work. You cannot get less than £95.85, and it can be awarded for up to 28 weeks. There are some criteria before you can be paid it though, for example you have to earn on average £120 per week and have been ill for four days in a row.

Our partners

We worked in partnership with MyBnk and MaPS on this project and would like to thank them for their collaboration, support and expert insights.