Step 6: Control your finances
You’ve just taken 6 important steps towards taking control of your money and managing your debts. But this is just the start. There’s a wealth of practical support and guidance available from the Money Advice Service. And for specific help from RBS in connection with RBS products and services, why not pop into your local branch and see one of our helpful advisers? They’ll be happy to listen and talk to you about your options.
Things to consider
Things change: the cost of living, your job, your lifestyle. So it's important that once you're in control of your money, you stay in control. Good financial planning is about making it part of your routine.
- You should review your finances at least once a year, but ideally every 3 to 6 months.
- Consider the impact of economic changes on your money - interest rate cuts can be great for mortgages, but not for savings.
- Review your situation in advance of any major life events, for example if you're getting married, or planning on starting a family.
- If you think your job situation isn't certain, try to make cut backs now and save more to give you a buffer if you find yourself out of work unexpectedly.
- Keep track of the end dates of any introductory offers you have on savings, credit cards or even your mortgage, so you don't get a shock if your payments go up.
- Shop around every 6 months or so for the best deal on household bills like gas, electric, broadband (unless you're tied into a contract of course).
- Stick to your budget and keep up the good financial habits you've made.