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Manage your money more efficiently

managing your money more efficiently

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Money management isn’t a subject often taught in schools, yet it’s a skill we all need to use throughout adulthood. Whether you’re looking to spend less, build up some savings or need to be a little more organised with your cash flow, the benefits of managing your money are pretty obvious.

Keep a record

Make a list of all your incomings and outgoings. You don’t need to cut back at this point, just put down everything you spend money on. Once you’ve established where your money is going, it will be easier to manage. Don’t forget to include anything you spend on credit cards, you’ll need to budget to pay for these at some point.


Once you have a clear idea of how much money you have coming in and going out you’ll be able to set up a budget. This doesn’t have to be as limiting as it might sound. When you have the essentials – rent, mortgage, bills, food, insurance, etc – covered then you can split leftover cash between savings and extras, such as a gym membership, new clothes or nights out. Most people’s income and essential outgoings stay the same from month to month so once you’ve set up your budget you don’t have to do it again and again. Just try to make sure you try to stick to it.

Automatic payments

Direct debits allow companies to take the money you owe straight from your bank account. Setting up direct debits means that, as long as the money is in your account, you won’t forget to pay a bill and incur late payment fees. It also saves you the hassle of going to the post office or sending off cheques to pay bills every month.


managing your money more efficientlyWhen it comes to finances most people deal with a number of companies. Therefore, it’s important to stay organised so that you know where to find documents you might need. Create a filing system so that you know exactly where to look for bank statements, pay slips, insurance documents and bills.


There are many apps on the market that can help you manage your finances. These apps can collate all your bills into one place so that instead of trawling through loads of paperwork, you can see everything at the click of a button. You can also use them to keep track of when bill payments will next be leaving your account, some even give you spending goals to help make sure you don’t go over-budget.

Financial advice

Financial advisers can offer valuable guidance for those considering long-term financial commitments, such as insurance policies, pensions or mortgages. You may find you can get a better rate than you would on your own, if you aren’t confident dealing with finances then advice can be very rewarding and reassuring. However, it pays to be aware of an adviser’s loyalties – some may not charge you a fee but will be paid by the companies you sign up to. This means you may not be getting the very best deal out there. Therefore, it’s best to opt for an independent financial adviser (IFA). It may end up costing more up front but you’ll probably save money in the long run.









About Maria Brett

About Maria Brett

Maria is a freelance writer with over 10 years' experience producing content for a variety of publications and websites. When not working or looking after her two gorgeous sons, she can usually be found playing flugelhorn in a brass band, helping out at her local hospital radio station, shouting at the television while watching Formula 1, at the cinema or plonked on the couch with a cold glass of wine.

Website: Maria Brett

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