Once you’ve had a little date with your finances, the hard work is almost over. By mastering the budget sheet you should now have a full overview of all your outgoing costs, and an idea of how to make your money stretch further.

If you find that your outgoings are higher than your income, now is the time to work out where you can claw back a little extra cash to balance it out. Put a plan in place to reduce your outgoing costs where possible. A great starting point here is with the frills and extras: try cutting back on shop bought lunches, unused gym memberships, or even try own-brand goods to keep your everyday spend down.

When managing your money it’s important to assess all of your outgoings and check that there’s nowhere you can cut back. As part of this process, we’d always recommend that you  consider switching your mortgage at the end of the deal period.

After the initial deal period on your mortgage is up the interest rate will typically switch to a standard variable rate. More often than not, this means your interest rate will increase. By planning ahead and switching to a new mortgage deal, you could save significant amounts when it comes to mortgage interest fees.

If you used a broker to secure your original mortgage, they’ll likely be in touch when it’s time to switch. The mortgage provider will also contact you when the deal period is coming to an end, so you’ll have plenty of time to review your options. In the meantime, get in touch with our dedicated team to find out more about switching mortgages.

Your emergency fund should be kept completely separate from any other savings you have. This way you’ll know exactly how much money

Whilst this may seem like an obvious point to mention, looming debts can really cause trouble when trying to get on top of your personal finance. Make sure you’re aware of what’s owed and prioritise those with the highest interest rates.

Check in with the terms of each agreement - whether it's credit card debts or personal loans - they’ll all have varying interest rates that could build up. It’s important not to neglect these payments as they’ll rear their heads again at some point and throw your budget sheet off balance.

Between paying your bills and keeping your home running smoothly, the thought of setting some of your budget aside in savings may have fallen to the wayside. Whilst it may not always be possible to pay yourself before the rest, it’s a great habit to keep in mind each month.

An important part of how you manage your money comes from ensuring you always work towards a rainy day fund, as you never know when you may need to rely on this. Yet 22% of us have less than £100 in savings and investments.

If you’re struggling to build up some savings, check out our handy guide to help your money grow. It’s also important to choose the right savings account for you, find out more about choosing the right account via our Savings Hub.