Kiss

Do you struggle to save for things you really want or need?

Then budgeting is definitely the way forward for you. It can prevent you from getting into unwanted debt, and by reducing your spending in some areas it may help you to have more to spend on what you really want. All you need to do is to keep track of your total income (e.g. salary/benefits/money from parents) and outgoings (e.g. rent, bills, food etc) over a specific time period. There are many online tools to help you to do this such as the Cut-back calculator. Having it laid out in front of you will be able to see clearly where your money goes and enable you to see where you can make changes. Successful budgeting enables you to get the most out of your money!

Prepaid cards are becoming increasingly popular. They look like a debit card and can be used like one too, but are different as you can only spend what has been preloaded onto the card. This means that you can’t get into debt. Some of them are available to under 18s too. However it is important to read the small print as they don’t offer the protection of a regular credit card and the charges for them can be quite significant. Fees and charges differ from card to card, but some of the more common include application fees, top up fees, transaction/withdrawal fees and monthly management fees. So it is important when choosing a card to consider how much it will cost you and whether the provider is authorised by the FSA. For more information visit this page on the What About Money website.

If you are really struggling with your money or need some specific help on managing your money there are many sources of financial information that everyone has access to. But it is important that it is clear, specific and impartial. Here are some top tips to get the best information for you:

· Research online – Check out the What About Money website to find definitions, information and links at http://www.whataboutmoney.info

· Shop around – Banks often provide information on products, but be aware that they may only be able to sell you their own products.

· Student Money Advisors – Advisors can be found at colleges and Universities in the UK and can provide specific information for your situation.

· Check out the following websites for independent financial information: www.whataboutmoney.info and www.moneymadeclear.fsa.gov.uk