Good money management can mean many things - from living
within your means to saving for short and long-term goals, to
having a realistic plan to pay off your debts.
yourmoney provides you with the tools and resources you need
when planning your finances.
Why not start with the money healthcheck to give you an idea of
how your finances currently stack up?
Getting on top of your finances can be daunting, but doing a
budget is a great way to start. By recording all the money you have
coming in (from things like your salary or wages, pensions or
benefits) and payments that you make (such as your rent or
mortgage, insurance and Council Tax as well as living expenses and
regular and irregular spending) you will get a better picture of
If you're spending more than you earn on a regular basis then the
next step is to look more closely at what you're spending money on
and what you can cut back. Even small amounts - for things such as
magazines, sandwiches at lunchtime or takeaways - can add
If you have loans or owe money on credit cards it usually makes
sense to pay off the debt that charges the highest rate of interest
first - it's the fastest way to clear your debts.
You may find it hard to get motivated about saving, but it's
often much easier if you set a goal. That way, rather than thinking
about the money you are setting aside each month, you can focus on
what you will be able to do once you've reached your goal.
Your first step is to have some emergency savings - money to fall
back on if you have an emergency, such as a heating boiler
breakdown or if you couldn't work for a while.
information visit the saving and investing section »
You can find a wealth of information and tools in the money
guidance section to help you make planning your finances
You may feel that you need to speak to a professional about your
personal finances. You can find an adviser local to you using
our online search tool »
We have the largest database in the UK of professional financial
advisers who are all members of the Personal Finance Society, which
means that they have committed to higher standards of
professionalism and code of professional ethics. Find out more
about financial advice »