Lacking good organisation with money can lead you to spend more than needed. Rather than relying on quick solutions like a payday loan, simply spending a few hours going through your finances can have a significant effect on the amount of money you have left to spend on things you want to do – the fun things in life.

Organise a free overdraft

Since 2020, many banks have altered their overdraft fees. While you won’t be penalised for going into your unarranged overdraft, you could see charges of up to 39.9% for going overdrawn. Luckily, there are bank accounts that offer free authorised overdrafts up to a certain amount. Therefore, it’s a good idea to investigate your account and see if you could be getting a better deal regarding this.

Use price comparison websites

There are so many price comparison websites for many things such as different types of insurance, holidays, flights, and more. These websites allow you to compare hundreds of financial products and deals so you can choose the best one for your circumstances. Whatever you’re purchasing, whether it be credit cards, broadband, or insurance, there is normally a huge difference between the cheapest and most expensive deals. Therefore, it’s worth your time to do your research.

Get loyalty cards

Loyalty cards are a great way to get rewarded for your spending. Signing up to loyalty cards at your favourite supermarkets and shops allows you to build up points every time you spend. Eventually, these points translate into money-off vouchers. There are also many loyalty cards that offer one-off deals or discounts to tempt you into the initial sign-up.

Automate payments

We have banking apps that mean we have access to funds in the palm of our hand – so there’s no excuse for not knowing where our money is going and how much we’re spending. It has never been easier for us to pay a bill with these banking apps, and it can be helpful if you find that you’re often making late repayments because you forget! You can automate payments to come out of your bank account each month to pay a bill so that you don’t have to think about it – this works with savings too! Work out how much you can afford to save each month and create a direct debit from your account into your savings, this can help you to remain consistent, and means that your savings will build up more quickly.

Budgeting apps

As well as banking apps, there are apps that you can download to your smartphone which allow you to review your budget with ease. You can check that you’re staying on track, and even connect your banking app so that transactions are automatically deducted. This can be especially handy when you’re saving, so you can keep track of your purchases and make sure that you’re not spending over your leftover income.

Cancel unnecessary direct debits

If you don’t regularly read your bank statement, it can be easy to miss direct debits you’ve forgotten to cancel. A quick browse of your monthly statement can help prevent any unnecessary payments lasting for months or even years. Get into the habit of logging into your online bank account once a month and making sure you’re not shelling out for services you no longer need or use.