Managing your money

Taking the time to manage your money better can really pay off. It can help you stay on top of your bills and save £1,000s each year. You can use these extra savings to pay off any debts you
might have, put them towards your pension, or spend them on your next car or holiday.

How to set up a budget

The first step to taking control of your finances is doing a budget. It will take a little effort, but it’s a great way to get a quick snapshot of the money you have coming in and going out. Setting up a budget means you’re less likely to end up in debt or be caught out by unexpected costs. You’ll also be more likely to have a good credit rating, be accepted for a mortgage or loan, and spot areas where you can make savings. You’ll also be in a great position to save up for a holiday, a new car, or another treat.

To get started on your budget, you’ll need to work out how much you spend on:

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