Money management is essential whether you are in debt or juggling your household costs. These are our top tips to help you stay in control of your money.
Make a budget
Making a budget is the first step to managing your money. Don't wait to get help if your budget shows you are struggling. Find out about our free debt advice.
It shows you:
- What money you have coming in
- What you need to spend each month
Budget for one-off expenses
Some expenses happen once a year, like Christmas.
- What you spend over the year on these, and
- Divide that amount by 12
Save this money each month until you need to spend it.
Save your money
Think about saving some money every month.
This helps you:
Even small savings quickly add up.
Monitor your bank account
Check your bank account often.
This helps you make sure you have enough money for bills.
Check your Direct Debits.
- Make sure you know what you pay for
- Make sure you only pay for things you use
Using cash helps you control your spending.
When you go shopping or have a day out:
- Take what you can afford to spend with you in cash
- Leave your debit card at home
This way you can only spend what you have.