Help Us Help You

When posting a question to the ukpersonalfinance subreddit, it really helps if you give us all the information we need.

In short, please tell us:

  • What do you need help with? Be as specific as you can about your situation and your question(s)
  • What’s the big picture? What is the root of the problem you are trying to solve?
  • What research have you already done? Have you checked the flowchart and wiki?

Give context

Providing some context about what’s happening and what you’re trying to achieve will help people give you the best answers. Many people in the community are very experienced, and they may be able to identify solutions or suggestions that would have never occurred to you, but which help far more effectively.

So rather than asking simply “How can I make £500 by tomorrow?”, it’s a lot more helpful to add “I am struggling to pay a council tax bill, I’m £500 short and the deadline is tomorrow”. In this specific example, an experienced person might be able to suggest ways to get leniency from the council, meaning that you don’t actually need to get £500 so quickly.

Other times, different answers may be applicable if you’re married, have children, are resident in Scotland, are in a Defined Benefit pension scheme, are a higher rate taxpayer, are a student, etc etc. We appreciate you may not always know what details are most relevant to include, but a quick description of your overall situation is very helpful.

It doesn’t have to be lengthy, usually a paragraph or two is all we need. However, a single sentence is generally not enough.

Use numbers

It’s understandable to feel uncomfortable disclosing exactly how much you earn, spend, owe on your credit card, or have in savings. We’re used to alluding to these amounts only vaguely, if at all. However accurate numbers are often essential to getting an accurate answer.

You can use a brand new, anonymous account to preserve your privacy.

If you don’t know all the relevant numbers off the top of your head, it’s worth taking the time to look them up.

Focus on your personal situation

Please be as specific as you can about your situation, rather than asking a general or hypothetical question.

For example, if you’re considering moving your S&S ISA to a new investment broker, post about your requirements and any questions about potential brokers you’re considering, not ‘what’s the best broker?’ or ‘what broker do you use and why?’.

Or if you are considering moving house, provide detail about your specific financial and personal considerations, rather than asking a general question such as ‘is it better to have a paid off mortgage, or a larger house worth more money?’.

Common scenarios

Below are some examples of common types of question and the minimum information we generally need to answer them:

Debt repayment questions

We have a guide to handling debt which explains what information you need to gather to assess your situation and make a plan. The more of the information from that page you can give us the better, especially:

  • A list of all the debts, their interest rates and minimum payments
  • A budget outlining your income and outgoings

Can I afford… (this car/rent/holiday)?

We have a guide to this over on https://ukpersonal.finance/budgeting/#plan . If you want outside input, we’ll want to see:

  • A budget outlining your income and outgoings
  • What alternatives are available to the purchase you’re considering

Mortgage and house buying questions

To learn more about how much you can borrow see our mortgages page. And please tell us:

  • The price or price range of the property you’re considering
  • Your gross income, and the income of anyone you’re buying with
  • Your savings, and/or equity in your current property
  • Your age(s)
  • Any life plans such as relocation, switching careers, having children

If you are concerned with mortgage payment affordability, please also tell us:

  • The interest rate and term
  • A budget outlining your income and outgoings

Retirement planning questions

  • Whether you’re planning for retirement alone, or together with someone (if the latter we will need their information too)
  • Your age
  • Your income
  • Your intended retirement age
  • Your intended retirement budget
  • Your existing pensions
  • Any other savings
  • Any life plans e.g. downsizing, paying for children’s university, going part time

Energy bills

  • Your tariff
  • Actual (not estimated) usage
  • Details about your property, e.g. insulation, windows, heating type, etc.