Managing your money

How to manage your money

It’s great when you have some money left over after you’ve covered all your essentials. Here are some tips to keep you on track:

  1. Budget
    Keep track of what you have coming in and what needs to go out. Seeing it in black and white can help you feel more in control. Try giving yourself ‘pocket money’ so that you have some money to spend on what you want (bets on the football or a night out with your mates) but means you don’t spend all of your available income!

  2. Track your spending
    Track everything you spend, even if it’s only for a few months, it will show you exactly how much your sweet tooth or coffee habit are costing you and you’ll see where you can make further savings if you need to.

  3. Save for emergencies
    Try and save something every month to cover emergencies like a washing machine breaking down or new tyres on your car. This means you don’t have to try and find the money to cover that emergency from your monthly income or resorting to credit cards (unless you can pay it off quickly).

  4. Set yourself a goal
    If you can save every month, even if it’s a small amount, you will be surprised at how quickly it builds up. Don’t be tempted to dip into it. Whether you’re aiming to save enough to pay your car insurance in one go (because it’s cheaper than monthly payments) or for a holiday – keep your eye on the prize!

  5. Saving – a habit for life
    It doesn’t matter how much or little you save, just save something – you’ll be glad you did!

More on money

Happy couple discussing finances together on grey sofa with a laptop and coffee at home.
Money and mental health
Budget-friendly Valentine's Day ideas
Cost of living
How to manage your money
How to deal with debt
A person tucking into a healthy bowl of salad with a knife and fork. The rest of the table contains another plate with leafy greens.
How to eat well on a budget
Person saving money and putting coins into a piggy bank with a notebook on the side working out their living costs
Reduce your living costs
Tattooed vehicle technician fixing car engine considering changes in the industry and whether their job is at risk
At risk or loss of employment
Two people enjoying their retirement sitting on deckchairs on a beach, watching the sunset
Online pension guide
A pile of coins with green plants growing from the centre of it
Everything you need to know about pensions in under 7 minutes

Sign up to hear more from Ben