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No Money the Week After Payday?

A couple sitting on the floor looking at their documents.

Stretching your money from payday to payday can be a challenge. Our money doesn’t always cover our outgoings and there’s always the temptation to overspend in the first week.

If we’re struggling with money, we might put off payments until payday but when payday rolls around, we end up spending all our money in the first week, and then we’re back in the same situation for 3 weeks out of 4. It’s a common problem. So, what can we do to stop that from happening?

How to prevent yourself from having no money

Budgeting is boring but essential.

Most financial situations can be improved with a proper and realistic budget. It might seem obvious but many of us aren’t organised enough with our finances and it can lead to problems down the line even if it’s not an issue right now.

Maybe you aren’t in a position where you have no money the week after payday, but could you pay out for an unforeseen emergency cost? If not, then maybe it’s time to start planning your money better.

It can be intimidating to start making a budget, but it’ll be worth it in the long run. Start with the basics and write down all your ins and outs. Here are some examples.



Any benefits such as Universal Credit, Child Maintenance, Disability Allowance

Any money from property or AirBnB rentals



Bills such as electricity, broadband, council tax

Any subscriptions

Travel expenses

Any debts or credit you are repaying

Budgeting might sound like it means you won’t be able to enjoy yourself anymore but that’s not true! If you have debts and want to set up a viable budget that will allow you to simultaneously pay back your debts and have money left over to have a social life or family life, we could help.

A Debt Management Plan (DMP) is an informal debt solution that could help you to take several monthly payments and turn them into one affordable payment.

We negotiate with your creditors to reduce your payments and make a budget that allows you to have some money left over for the small luxuries in life, like hanging out with your friends, taking your kids on a day out, or simply, having a bit more money for groceries.

What can you do if you have no money?

If you’re at the point where you have zero or minus in the bank and can’t pay for essentials like:

  • Food
  • Fundamental bills like energy or water
  • Rent or property payments
  • Money for furniture or moving properties

You may be able to get a grant through either a charity, a hardship fund, or your local council. A grant should always be your first choice rather than applying for credit, as you won’t need to pay it back. There is often help out there if you really need it but they won’t be able to help everyone.

Is having no money affecting your mental health?

Struggling with your finances is stressful and can make a big impact on your mental wellbeing.

We know that money troubles can feel a lot bigger than they are. Owing money to someone isn’t a great feeling but there are ways you can deal with it to make it easier for yourself.

Don’t suffer alone. If you’re feeling overwhelmed with debts or like you can’t deal with your situation, reach out to someone. It can be a friend, a relative or a stranger. The Samaritans offer online and telephone services for those who are having a difficult time.

It can also be useful to get debt advice from an expert. We are always here for friendly advice and an open and honest conversation.

Is it worth taking out a payday loan?

You might be tempted to take out a payday loan to tide you over, but this could make the situation worse. Payday loans normally have very high interest rates which make them difficult to impossible to pay back.

Although they can be tempting, short-term loans like these can add more stress to your money worries.

Also, they may be reluctant to lend to you if you have very bad credit or a lot of unpaid debts.

What can you do if you have bad credit?

We consider everyone no matter their circumstance, which means even if you have a bad credit report, you could still be eligible for a DMP.

In terms of your current credit file, a Debt Management Plan will affect your credit score in the short, medium, and long term. However, we believe it will make a positive impact in the long run as long as you meet payments on time and in full. Once the term of your DMP is over, you can start to rebuild your credit score.

The idea of a Debt Management Plan is to make it as easy as possible for you to repay your debts and meet your monthly payments so that you’ll be in a better financial position overall.

Get back on top of your finances with careful budgeting and a realistic view of what you can afford.

Don’t want to do it alone?

See if we can help

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