Money Advice

This page is aimed at giving you some useful information and tips about managing your money better, allowing you to live within your budget.

We all need help to make the most of the income we have and managing money effectively will help stop you from getting into difficulties.  Read on to find out lots of useful information on Money Advice

 
Budgeting 

We would always recommend that you create a monthly or weekly budget to help you understand where your money goes. To help you do this we have created a budget planner, which is on our downloads page. Hopefully this will help you identify spare cash each month after paying all your bills, which you can use to save for those special occasions.

You can open a separate bank account to help you save any spare cash and we would suggest you shop around, if you are doing this, to get the best deal from the High Street banks.

Sometimes the best option, if you are on a tight budget, is to use cash to pay for the everyday things, as this will then allow you to keep a greater control on your spending. You can't then spend what you don't have!

Another useful tip is with regard to credit or store card debts. If you have any savings but regularly only make minimum payments against your debts, then we suggest that you may want to use some of your savings to make lump sum payments against credit cards or store cards. This will not only help to reduce the overall debt but also bring down the interest you are being charged each month by making minimum payments only.

You need to realise that anything you earn in interest - even in a tax-free ISA - will pale in comparison to the amount you’ll be paying in interest on your credit or store cards. Once your high-interest debts are clear you can start to put a small amount aside each month.

Visit our Money Management section on our links page for details of websites who offer money management and financial advice.