Manage your money and get ready for your future

Make the most of your days in the future. Learn how to make your money go further and plan for any times you need help and to pay for care.

Take steps to have more money for living your life

You can have more money for living now and in the future.

Check you get all the money you have a right to. Find out for free about what you can do about debt. And learn how to keep some money for your future.  

You can:

• find out how to only spend only some of your money with a budget (Money Helper)
• get advice on what you can do about debt (Money Helper)
• speak to someone to get free advice about money. Call the Money and Pensions Service on 0800 138 7777
• ask to get advice about money in person, call Citizens Advice on 0800 144 8848
• read what Citizens Advice says you can do if you are finding it hard to pay your energy bills. Or call Citizens Advice on 0800 144 8848
• find out what benefits you might qualify for now, and in the future if you are an older person (Age UK). You can also call Age UK on 0800 678 1602
• learn about financial help you can apply for if you are an older person on a low-income (Friends of the Elderly). You'll need to ask a professional to help 
• check if you have money in old accounts (Age UK)

Work out how much money you will need to live well

Many people need to save more for the future.

An average Dorset earner needs twice as much as the state pension to live the life they are used to.

And if you do not qualify for financial support, you will have to pay for care too.

You can get ready and plan for your future by:

• checking the amount of state pension you are likely to have (Gov.uk)
• finding out if your pensions will give you the money you wish to live on (Government Pension Calculator) or call to find out on 0800 731 0175
• finding out if you might qualify for financial help with your care fees or not so you can plan ahead (Money Helper)
• getting ideas on what to do with your money (Money Saving Expert)
• getting free independent tips on what you can do with your money. Call the Money and Pensions Service on 0800 138 7777
• finding out how to speak to someone in person to get advice on budgeting (Citizens Advice)
• finding a professional in Dorset who can advise you on where to put your money (Solicitors for the Elderly)

Work out how much care could cost and how to pay

Many people have to pay something towards their care. Paying for care means you get more choice over a carer or a care home.

If you pay for all your care yourself, it can cost £420 a week for 2 hours of homecare a day. If you need to go into a care home, costs per week in Dorset are more. It might cost £1,000 a week  – or more if you choose somewhere more luxurious.

You can get ready for when you need care by:

• finding out if you might qualify for financial help with care, or will need to pay for all your care yourself (Money Helper)
• seeing how much you might need for care and support in the future (Home Care Association)
• learning more about equity release, if you are interested in this way of paying for care (Money Savings Expert)
• reading about deferred payments, if you are interested in this option (Which?)
• find out whether you need expert advice before making big financial decisions like re-mortgaging your home (Citizens Advice) 
• see who can give you financial advice in Dorset for a fee, including on paying for care (Society of Later Life Advisors)

Choose what happens to your money for a time when you cannot

You can say what happens to your money if you fall ill, cannot make decisions, or die. You can then get on with life, knowing this is taken care of.

You can choose someone you know to manage your money when you cannot. Giving them power of attorney means your bills and care will be paid for whatever happens.

And you can decide who to leave your money to by making a will.

So be ready for whatever might happen by:

• giving someone power of attorney (Gov.uk), calling 0300 456 0300 if you need help filling out the application form
• considering if you want to use a solicitor to give power of attorney. You don’t have to use a solicitor, but you can use a Dorset solicitor near you if you wish (Solicitors for the Elderly)
• finding out how you can make a will (Gov.uk)
• asking questions about making a will for free. Call Citizens Advice Dorset on 0800 144 8848 or find out how to get advice in person in central Dorset, Purbeck and Ferndown or Bridport
• finding a professional in Dorset who can advise you on making a will for a fee (Solicitors for the Elderly)