Don't forget to budget

Before you think about ways to increase your incomings, it's helpful to think about ways to cut your spending. Making a monthly budget is a great way to approach money matters with a clear head. TheSite.org's guide to budgeting walks you through the basics, while Barclays Money Skills budget calculator or Money Advice Service's budget calculator are both useful ways for setting down all your incomings and outgoings and identifying moments of waste (or weakness... were those shoes you bought last month really worth living off baked beans for five days?)

Getting paid work

Getting a job is a great way to earn money, pay off debts and give your CV a boost in one fell swoop. Check our guides to part-time jobs and temping. It's not unknown for people to take on a second or even a third job to help through a difficult patch in their finances - although having more than one job might be bad for your health and won't do wonders for your social life, either.

Meanwhile, if you are working, make sure you're not getting ripped off. It's the law that workers of 16 years and older are entitled to the National Minimum Wage, which starts at £3.57an hour.

Self-employment - and working from home

While we wouldn't necessarily trust those adverts that tell you a woman in the American Midwest earns $2,000 a day by working from home, it's true that with a bit of spare time, you can make money from your front room. If you're skilled in web design, translation or desktop publishing, it's possible to find freelance work. And even if you're unskilled, you can drum up a little cash by filling in online market research surveys - they pay around £1 and £3 a pop, which might not sound a lot, but it adds up.

If you're earning as a freelance, you'll need to register as self-employed, meaning you'll have to send a self-assessment tax return to HM Revenue and Customs every year.

Benefits and tax credits

Whether you're hunting for work, looking after kids, or in full-time work on pitiful pay, there's a good chance that you're entitled to some sort of benefits or tax credits. Benefits and credits you may be able to claim include:

• Council Tax Benefit
• Housing Benefit
• Jobseeker's Allowance
• Child Tax Credit (CTC)
• Working Tax Credit
• Employment and Support Allowance
• Disability Living Allowance (DLA)
• Income Support

Visit the Citizen's Advice Centre's to see what you're entitled to claim - but beware, the rules are fairly complex and it's not always obvious what you'll be eligible for, so if you're confused visit your nearest Citizen's Advice Bureau to speak to an adviser.

Caring for others

If you're looking after at least one child, you're entitled to claim Child Tax Credits. They're paid direct to the person who is mainly responsible for caring for the child or children, and if you're hard up with school-age children, you may also be able to get financial help for meals, clothing and travel costs. Income Support, meanwhile, is a special form of financial help specially designed for lone parents and carers.

Sharing a house

Living with others? If so, it's worth considering if you're splitting rent and bills fairly. Is there someone who's earning more, bumping up the bills or not pulling their weight when it comes to communal costs? It's a sensitive topic, but it's worth going there on eggshells if you can prove your housemate's long-distance phone calls are putting you in a difficult place financially. Another adult sharing your house can also affect the amount of Housing and Council Tax Benefit you can claim, so beware.

Borrowing money

Before you borrow money or take out a loan, ask yourself some difficult questions. Is this just to get you through a bad patch, or are you digging yourself a hole? Make sure you can afford the repayments, and shop around. The Financial Services Authority website is packed with advice, and if you're on a low income, you may be able borrow safely from a credit union - visit the website of the Association of British Credit Unions (www.abcul.org) for more.

Selling your stuff

Because maybe it's time for a clearout? It's easier than ever to flog your stuff online. Amazon offers free listings, and look out for eBay's cheap listings days, useful for offload the contents of a few cupboards with few financial risks. The Citizen's Advice Bureau has advice on buying on internet auction sites. And if a bit of a haggle is more your style, don't forget the car boot sale - although mind you don't come back with more than you arrived with...

And in an emergency...

If you're on a low income, it's very difficult to budget for emergency expenses. The Social Fund is a one-off payment that covers for things like funeral payments, maternity grants and crisis loans.

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Updated: 16/05/2012

Written by Louis Pattison, photograph by Simon Cowen.