Whatever your situation, it’s a good idea to work out a budget so that you can be sure you are living within your means. Using a budget calculator can help you do this.

Speak to your service providers to set up new accounts in your name. If you choose a different provider, make sure that any accounts for the previous occupiers are closed. You can pay your bills by Direct Debit or standing order to make sure they get paid on time.

Think about what your financial goals are, for example paying off debts or saving for furniture, and think about what you need to do to meet them.

Once you know your budget and your financial goals, work out how much you can afford to set aside each month out of your income to go towards emergency-fund savings or future outgoings.

You may be able to get Council Tax benefit if you need financial help to pay your Council Tax bill.

If you’re on a low income and need help to pay your rent, you may be able to claim housing benefit or local housing allowance. If you’re alone because of bereavement, you may be able to get help with funeral and other costs.

Make sure you change your address with your bank, credit-card and insurance companies, as well as other financial companies that you have arrangements with. It might be a good idea to put a three-month redirection on your old address to cover the transition period. This can also reduce your risk of identity fraud.

Your new address may have an impact on your credit score if previous occupiers have had bad credit. You can check your credit record at your new address using credit reference agencies. You can then ask the agency to change the information on your file if it is incorrect, or it includes details about people who have no financial connection with you.

Don't be tempted to keep or throw away mail addressed to a previous tenant/owner. Always return it to the sender if you don’t know their new address. You don't need a stamp – just mark it 'return to sender' and stick it in a post box. This should avoid you having to deal with any problems if they weren't up to date with their payments.

You may want contents insurance for your home to protect your possessions from theft or damage. If you own your home, you will also probably need buildings insurance.

If you have a mortgage or a loan, and you can’t work because of an accident, illness or redundancy, you will still be expected to pay what you owe. There are a number of products you can buy to help with your repayments, but check when they pay out and how long for.

Now you’re living on your own, you may also need other insurance such as motor or travel insurance, which may have previously been covered by someone else.