Check what's coming in and what's going out

You may think you know what you're spending and what you're earning, but it's a good idea to put it all down in black and white. Keep track of your expenses by keeping your receipts for a month and tracking your money.

• Make lists of your receipts, it might be time consuming to start with but it's worth it in the long run. Organise the amounts under the various costs headings that are appropriate for you, like groceries for example, petrol, clothes, eating out and so on.
• Compare your spending with your income and note the amount left over, or if there is a shortfall.
• Start a filing system for your financial information and draw up a budget for your monthly finances.

For help in budgeting, you can use the financial tools supplied by the government on the Money Advice Service website.

If you are worried about your debt levels, don't wait. Seek help now. Approach any of these organisations for free debt advice.

Debt help

National Debtline
www.nationaldebtline.co.uk Tel - 0808 808 4000 (Mon-Fri 9am to 9pm; Sat 9.30am to 1pm + 24-hour voicemail - to request an information pack or factsheet.)

Citizens Advice Bureau Adviceguide

www.adviceguide.org.uk

Find your local CAB online
Citizens' Advice Bureaux
www.citizensadvice.org.uk

Consumer Credit Counselling Service

www.cccs.co.uk
Tel - 0800 138 1111 (Mon-Fri 8.00-8.00)

Mortgage arrears helpline

Tel - 0800 975 9558

Money Advice Scotland

www.moneyadvicescotland.org.uk
Tel - 0141 572 0237

For housing debt advice - Shelter

www.shelter.org.uk
Tel - 0808 800 4444 (7 days a week 8.00-midnight)

Review your accounts

Make a list of your accounts, your mortgage, pension and savings. How much does each account cost you every month? Are they still working for you? If your circumstances have changed, it might save you money to change your accounts. If you opened a savings account when you were a student, for example, the same account might not be appropriate for you now.

Now you know where you are spending your money and where your money is living each month, you're better informed to make financial decisions.

Investments

If you have money to spare, have a look at the various investments products on offer.

Most national newspapers carry a regular money advice page, for example the Daily Mail, The Guardian and The Independent.

There are also a few very informative websites that can provide guidance, for example Moneynet, Whatinvestment and Thisismoney. You may, however, wish to speak to a financial expert before making any decisions about where to invest your money.

Tesco Bank is not responsible for the content of external internet sites.