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Managing money
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Thursday 22 December 2022

Managing your money during the cost of living crisis

The cost of living crisis has had a huge impact on so many of us. Because of this, you might be looking for ways to manage or save your money.  

In this blog we’ll discuss how to create a budget plan and our tips to save money – while still doing things that bring you joy. 


Budget planning 

If you manage your own money, then it might be helpful to create a budget planner. This means writing down or tracking what money is coming in and what money is being spent each month.  

Doing this can help you manage your money and may improve your wellbeing as you’ll feel in control of your finances. You can ask your parent or carer to help you make a budget.  

Budget planning can be as strict or as flexible as you like. You may decide to track and plan every penny you spend, or you may prefer to set aside money for the essentials, and spend the rest of your money how you wish to.  

Planning your budget is useful as it will help you know if you need to apply for practical support or benefits depending on the amount of money you have coming in. We have more information on how to access this financial support.  

There are lots of ways to create a budget plan. You may want to draw your budget, write it down on paper, or create it online using tools like Excel. You can download budget planners online from websites like Money Saving Expert


“During the cost of living crisis, I am managing my money by being really energy conscious, which is good for the environment too.” – Autistic young person in the Ambitious Youth Network 

Ways to save money during the cost of living crisis   

Once you’ve created a budget plan, you might decide that you don’t need to save any money. Or, you might decide that you want to be more mindful with your spending habits. 


“I am managing my money by trying out supermarket value brands and ‘giving things a go’ as well as having fun at home rather than going out. My mum and I do quizzes together, and I am reading more too! – Saffron, member of the Ambitious Youth Network


Here are some ways you can save money.

  • Meet friends for a walk instead of spending money doing an activity when you see eachother. 
  • Bring your own tea or coffee to school, college, or work rather than buying it from a coffee shop.
  • Make your meals in advance rather than buying them on-the-go.  
  • Put a spending plan together to help you manage your money.
  • Upcycle your clothes instead of buying new ones – this can be a fun project too.
  • Shop for cheaper versions of your favourite clothes or products – often they will be so similar you won’t notice a difference. 

While it can be helpful to create a budget planner and save money where you can, it’s also ok to spend money on things you need or things that bring you joy.


“I have developed a stable routine that I know keeps loosely to my budget and allows some leeway, so I am less worried.” - Autistic young person in the Ambitious Youth Network 


Further support
We have created more resources to support you during the cost of living crisis.