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Stay on top of your finances

Easy ways to manage your money

Whether you want to monitor your outgoings or start saving for the future, we’ve got tools, support and guidance to help you.

Do you feel in control of your money?

If you find yourself running out of money at the end of each month or if you regularly face charges for going over your limits, it’s worth creating a monthly budget.

It’ll help you to understand what’s coming in and out of your account so that you can stay in control and plan for the future. For more guidance, sign up to Financial Wings .

Create a budget

The first step is creating a detailed budget. You can use our budget planner to note everything that comes in and out of your account, including your wage, any benefits, pensions, bills etc. It’s important that you’re detailed and honest – include things like your lunch at work and drinks on nights out. Ideally, you should be spending less than you earn each month. If not, use the planner to see where you could cut down your outgoings. If your income is low, or has been reduced due to a change in circumstances, you may be entitled to benefits that you are not currently claiming. You can use this benefits calculator to check.

Take control

Once you’ve created a budget, there are things you can do to organise and take control of it. Wherever possible, pay your bills by Direct Debit or standing order. This way, your payments won’t be late and you might save, as some companies offer discounts if you pay that way. It’s a good idea to set these payments up 1 or 2 days after payday, so that you know you’ll have enough in your account. You could also get Online Banking and the Barclays Mobile Banking app so you can check your balances and account details, 24 hours a day.

Start saving

Setting money aside each month – no matter how little – is a good way to start saving towards your financial goals. So, whether it’s a big holiday, a house deposit or money for unexpected expenses like household repairs, you’ll be covered. You can open an Everyday Saver account with as little as £1 and start earning interest. Alternatively, with an ISA , you could earn tax-free interest up to a certain amount.

Does your income vary each month?

If you don't receive the same income each month, it's important to make sure you have enough to cover your essential living costs. Work out your monthly outgoings to see the minimum amount you’ll need each month to cover them. Once you’ve got that, you can also identify areas that can be cut back.

If you find it hard to manage your outgoings, you could set up a separate bank account specifically for regular payments such as rent and bills. If the money is automatically taken from that account, you can ensure everything is paid on time.

Jargon buster

ISA
ISA stands for individual savings account. You can save money in the account without being taxed on the interest earned.

Direct Debit
A Direct Debit is an agreement between you and a third party organisation. The third party arranges to transfer money from your account on the same day every month. It’s often used for regular payments such as bills.

Standing order
A standing order is a regular payment that you set up and manage. You can amend and cancel it when you like.

Tools

Tools to help you manage your money

Budget planner

Enter your incomings and expenses, and this tool will calculate what you have left over each month.

Text Alerts

Setting up Text Alerts is a convenient way to stay on top of your accounts. You can choose when you get a message – whether it’s when you’re nearing your overdraft, facing a fee or something else.

Barclays Mobile Banking and Online Banking

Keep track of your day-to-day finances with Online Banking and download the Barclays Mobile Banking app for your phone or tablet to stay on top of things when you’re on the go. They’re both free and – because of our award-winning security – they’re safe to use.