Managing the day-to-day

Day-to-day management means knowing when you have money, when you need to pay things off and when you need to be more careful. Being good with your money doesn’t mean thinking about it every minute of the day, it just requires good habits at key times of the month or week.

To help make this easier jot down when you get paid and when payments are due on our monthly planner tool.

You might also want to consider:

1. Setting up Direct Debits payments, so you can pay your bills on time and when you know you have money to pay them with. Try to move standing orders and Direct Debits until just after payday to avoid surprises at the end of the month.

2. Set up any standing order payments and mark which day they fall on the monthly planner tool.

3. Fill in any other monthly commitments, for example: mortgage payments or rent.

4. It’s good to regulary check your balance, you can do this by registering for Internet Banking or Telephone Banking and by signing up for Text Alerts.

5. If you’re feeling stretched towards the end of the month talk to your bank about applying for or increasing your overdraft.

Now you know when things are happening, the next step is to keep on track. Here’s a few tips:

• Make and try to keep to a budget using the excel budget calculator and online budget calculator.
• Apply for an overdraft in advance if you think you might go overdrawn.
• Try not to get used to having an overdraft, use it only as a temporary arrangement.
• Focus on your budget and make reductions were necessary.

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