Need to do a general money overhaul.

[Graphista]

I'm a Lp with 16 yr old daughter.

We're both disabled and I have mh issues too.

Currently I'm on 'old' benefits system (dreading change to UC) daughter is hoping to go to college in Autumn having left school for various reasons inc lack of support and anxiety.

We receive:
Housing benefit
Council tax benefit
ESA
DLA
Child tax credits
Child benefit.

Supposed to get child maintenance but ex hasn't paid in several months (has never paid regularly over the years) and govt has finally done a deduction from earnings which starts next month.

Have also just moved house from furnished to unfurnished and am needing to gradually furnish new property (housing Association) I am of course using freecycle, gumtree, local Facebook pages where possible but not everything can come from those.

Financially need to sort the following:

I have a very basic bank account and I'd like a better one. Particularly as current debit card is visa electron which is being accepted by fewer retailers as time goes on. My own bank when I've asked in branch I've been refused an upgrade. At first I thought poor credit history owing to old debts/issues but I just joined mse credit club and it's actually quite good so I don't understand why the bank I've been with for 11 years is refusing this.

That said I'd like to improve my credit history further to give me more purchase power. So I'm considering a credit card and only use it for regular purchases and pay off in full ASAP. I'm pre-approved for one and good chance of getting several others (again according to mse site) but unsure how to decide which to get.

My daughter could really do with an account of her own now. Partly to make it a little easier for me, partly to get her used to handling a bank account, and also as she is looking for (and hopefully will find soon) a part time/weekend job.

I also need contents insurance for the new (and older) things in new flat. I have a product cover thing with the new white goods from Currys but that doesn't cover theft or fire. Funds ltd but also pointless getting cheapest if in the event of a claim they won't pay out. So good service also important.

I also need to review my energy company choices as I am currently with previous tenants choice, how long do I stay with them to get a good idea of how much energy we use in order to compare and possibly switch?

So if anyone can help/advise with any or all of these I'd be very grateful.

One or two thoughts

• loyalty is now for suckers, your time with a bank is of no relevance and in fact new customers get treated better. Tsb are particularly bad for kicking existing customers but not alone.

If your credit history is clear you should be fine. Consider a switch, there are still a couple of banks offering free cash for this.

Contents insurance is indeed an essential - the comparison sites will work for that. Consider accidental damage cover for anything belonging to the ha (worktops, carpets?)

Credit card - all the same if you pay off every month. Again look for a cashback deal, if any.

Energy use - you can monitor daily if you want, but monthly readings are best, just write them down. The important thing is unit cost and standing charge, which can take a bit of finding. The tariff information label is what you need, the tariff comparison rate is babble. Electricity prices have gone up 30% in the last year so don't expect miracles.

Hope this is of some help.

It is thank you.

Is the DLA for yourself or your daughter?

Myself. Dd only recently diagnosed. I've been told I could apply for pip for her but I'm scared this could trigger us on to UC which is still an awful mess at moment.

Don't know if I Cba switching banks at moment. I'm still waiting for a lot of things to settle down after moving in terms of dd's etc.

Look at using a cashback site like Quidco for insurance purchases etc.

I tend to find the product I want, clear the cookies and history on my computer then go via Quidco to make the purchase. £428 in 4 years, not life changing sums, but all cashback on things I was buying anyway.

I disagree about contents insurance being essential. It is a risk judgement, and accidental damage premiums can be quite a lot. Only you can make that decision.
Product cover too. There have been miss-selling scandles.

Get your daughter to shop around for a bank account for her. A good exercise for her to stand on her own two feet. I bet she goes for whichever student / youth account that gives the best freebie!

You are already on MSE which is a great source of info. They probably have bank best buy recommendations.

Beware applying for multiple credit cards as that can negatively affect your credit rating.

I don't think applying for PIP will trigger universal credit as PIP is not means tested and isn't involved with UC.

Applying for pip will definitely not trigger UC I can 100% guarantee that. If your dd receives pip then you will get more tax credits £40-£60 a week plus carers allowance £62 a week ( although I think you will lose about £30 of it due to the esa claim).

contents insurance isn't essential - if you can afford to replace everything that you own following fire, flood or any similiar disasters. Ditto if you can afford to replace something stolen.

landlords are not responsible for tenant's contents.

MSE has had a couple of features on their recent weekly email which gives some good tips on bank accounts, including those that incentives to switch to them. It's worth spending an hour to investigate?

And yes, use quidco for insurance, energy supplier etc. It a dead easy way to make money for free.