Financial wellness tips to help you

Plan your expenses

Invest time to plan for your expenses across the year so you know when your bills will be coming in. Once you’ve done this you can divide up the cost and put away money each month rather than trying to find it all when the bill arrives. This way it’s not such a worry when they come around.

Budgeting

Set up a standing order so that your savings go out automatically on payday and then set aside your bill money. Divide whatever remains by the days of the month that are left and try not to exceed that amount. Anything unspent can be skimmed off into savings.

Get a second bank account

Keep track of your spending by separating out regular outgoings into one account and having another as your “spending” account.

Search for discounts before you buy

When buying something online make sure you search for discount codes. If you can’t find a discount, see if you can get cashback instead.

Cashback cards

Cashback cards offer you the chance to earn cash from the money you spend, by paying you back a percentage of what you spend or giving you reward points. They only make sense if you pay off the balance in full each month and never go over your limit.

Save the change

A lot of banks offer a ‘save the change’ feature. Every time you spend, it rounds it up to the nearest pound and puts the difference in your saving account. This soon adds up and can be used for special treats.

You don’t need a goal to start saving

There will always be a time when you’ll need a little extra money. If you get into the habit of putting away some of your take-home pay even if you don’t have a specific goal, you’ll have a cushion to fall onto if you need it.

Check your credit files

Look for credit searches, applications, financial associations and investigate anything that doesn’t seem right or you can’t remember doing. The smallest anomaly can impact on your credit rating which may turn into a big problem even if it is a genuine mistake. If it’s not a mistake, then checking could prevent you from becoming a victim of financial crime.

Don’t do nothing

Make sure your money works for you so check if your investments are producing a return and if not be prepared to move it somewhere it will.