Helping you budget

Get in control of your money

Setting up a budget

Making a budget can help you understand how much you spend, where you can save some money and what's left over at the end of each month. To set up a budget you need to consider: 

  • Income – This is any money you have coming in. If you are self-employed or on a mixed/zero-hour contract, you may have an irregular income. If this is the case, you could work out what your average income is, or budget for your lowest possible monthly income.
  • Outgoings -  This is your monthly spending. It includes bills such as gas, electricity, and mortgage payments. When making your budget, don't forget to include regular but non-monthly payments such as holidays or car MOTs. If you don't add them, they will surprise you when they come up. You can add them by finding out what they cost you each year and dividing them by 12 to give you a monthly amount (or 52 if working on a weekly budget).

You now need to subtract the spending total from the amount of money you have coming in. It will then show you what money you have left at the end of the month for unexpected purchases or savings. 

You can also take a look at the budget to see where you spend the most, to find out if you can reduce your spending.

Or if you'd prefer, you can use our handy budget calculator. This will give you a more detailed breakdown and will do the calculations automatically for you. 

Add an emergency fund

Having an emergency fund in your budget can help you set money aside for any unexpected costs. How much you need in an emergency fund may be different for everyone. This is normally 3 months worth of your outgoings. 

Stay in control of your money

Bank online

You can bank online through Online Banking or using our Mobile Banking app.  Keep track of what's going in and coming out of your account, 24/7. Our Spending Insights feature gives you a breakdown of your money each month split by categories. So, you can see the patterns and spot where you might be able to make some savings in the future.

Organise your money

Sometimes it can help to split your money between accounts. Why not consider one for bills and the other for everyday spending. You'll then know how much you have to cover your bills and how much you have left to spend at the end of the month. When reviewing your household bills, you may want to have a shop around to see what offers are available. You might find that you could get a better deal from somewhere else. Find out more about how to get your bills under control.

Spread it out

You may find that spreading bigger payments over the year (like your car insurance or TV licence fee) is a good option for you. Setting up a monthly direct debit to pay for these costs means you won't have to pay a large sum in one go, which can be really helpful if money is a bit tight.

Our upcoming payments feature can help you see payments we expect to come out of your balance soon. These include Direct Debits, standing orders, and recurring card payments.

Shop around

There are lots of ways you can save money. Looking out for family deals or discounts and loyalty and cashback schemes is a good place to start. Even waiting to buy something in the sale can make a big difference to your spending too. Don’t forget, there are also benefits schemes such as Universal Credit which is a payment to help you with your living costs so it’s worth taking a look to see what you may be entitled to.

Day-to-day budgeting


Video on day-to-day budgeting.

Budgeting doesn’t have to be stressful. Find out more about the ways you could make things more manageable with a few simple changes. These include reviewing your direct debits, using comparison sites, and reducing unnecessary costs. You can also use our handy budget calculator to help you stay on track.

How to stay financially stable


Video on how to stay financially stable.

Whether its budgeting, managing debt, thinking about your savings or keeping you protected from fraud, our hints and tips could help.

Be smart with your money

Start saving

If you have some money left over at the end of the month, why not think about saving it? Sometimes things happen that you haven't planned for like an unexpected bill, repairs or maintenance, or losing your job. So having some savings can help. See our top tips and tools to help you become a better saver.

Spend wisely

If you can plan your spending in advance, you're less likely to buy things you don't need or can't afford. This will help you stick to your budget and keep your spending under control. Our budget calculator can help you manage your money too.