The cost of living in Britain is pretty high at the moment, and this can make it hard for families and individuals alike to keep ahead of their costs. With inflation reaching almost 3% at some points over recent years, it’s really no wonder that many people find themselves struggling to keep everything under control when it comes to managing their money. However, if you’re grappling with this problem at the moment, then don’t worry: there are steps that you can take to get a handle on your finances. From keeping a spending diary to making sure that you claim everything to which you’re entitled, it’s surprising how quickly extra disposable income can materialise. This article will share some advice on how to get your spending under control and create some breathing space in your personal budget.

Keeping a record of everything you buy may seem like a chore even to the most organised of people, but if you’re finding that your spending is getting out of control, then it may be something that you’ll need to consider. This way, you’ll know exactly what you’re spending on absolutely everything – and you’ll be able to identify areas where you can cut back. While bank statements can let you do this to some degree, you can’t zoom in on the exact cause of that overspent supermarket shop or the precise item that caused your last clothes shop to be too pricey. It’s possible to get hold of an app that can do this for you, but you may need to give it limited access to your bank account in order to function – so don’t forget to check the security settings first.

It could well be the case that you’re owed money from one source or another even if you’re not expecting to be, so you should always check. You may, for example, be entitled to compensation if you bought mis-sold payment protection insurance (PPI) in the past, while you may also be able to claim additional tax credits, benefits or other sources of income from the government. Luckily, an Alliance and Leicester PPI claim or a claim for another bank is easy to carry out online, while it may be worth calling HMRC if you’re concerned that you may have overpaid tax. Using online benefit calculators, meanwhile, can help you see if you’re owed anything. Don’t miss out: this is a great way to expand any budget and make it go as far as possible, and it could mean the difference between a month of treats and a month of just getting by.

For some who are finding their finances a bit hard to manage, going down the cash payments route is another option. By paying all the bills you can on payday and then taking everything out in cash, it’s possible to get a physical grasp on how much money you have left – which in turn can improve a budget. It’s important, of course, to make sure that you keep this cash safe and secure, and it’s also wise to remember what days your direct debits go out so that you have enough left in to cover bills paid later in the month.

If you’re still struggling after following these top tips, then it’s unfortunately not good news. The most drastic option of all is to impose a serious system of discipline on yourself, and this could take one of several forms. You could, for example, have your wages paid into your partner’s account in order to prevent overspending from occurring. Your partner, in turn, could then pay all of the bills and give you an allowance each week in order to ensure that there’s enough left over at the end of the month. While this may seem unfair, it could in the long run be exactly what you need to get your financial goals back on track.

In an environment where the cost of living is so high, it can sometimes seem as though there’s never enough money to get you through to the end of the week – never mind the end of the month. However, luckily, it’s possible to turn this state of affairs right around by taking control of your finances. Whether you choose to pay for everything in cash in order to have a tangible overview of your available money at all times or you prefer to start a spending diary to keep yourself and your spending in check, there are plenty of options available.