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Managing your money - getting started

How to manage your money -  Getting started


Now you make think we’re crazy telling you to start thinking about your finances at Christmas where everyone is feeling the squeeze, but in fact this is one of the reasons why this time of year is a good time to start in time for next Christmas.



First steps in setting your own personal budget:



  • First of all, grab as much information as you can about your household income and expenditure including payslips, bank and credit card statements, household bills, loans, mortgage payments etc. the more information you can get the better

  • Use this information to work out how much you spend on everything such as bills, birthdays, food, insurance etc. there’s a lot of ways you can record this, but why not try Money Advice Service’s free budget planner to help you with this part

  • Start with the easy cuts – upon looking at your expenditure, you may find you’re spending too much on that Costa coffee every morning, or maybe a gym membership you’ve only used once in the entire year? Reports say that brits waste 558m a year on unused memberships, try going for a run instead or bringing your coffee in a flask every morning to save on such expenses

  • Ensure your essential expenditure such as household bills and your rent / mortgage payments get paid before you start looking at the rest of your expenditure. An easy way to help manage your money, is with the free budgeting tool available on the Engage account to help you put money aside for your bills


Once complete, you will have a much better understanding of what you actually spend, every time I do this exercise, I’m always spending more than I thought, so it’s definitely a worthwhile exercise to come back to periodically, however scary it can be!


When everything gets hectic in the lead up to Christmas, wouldn’t it be great to be able to spend more time with family and friends, relaxing together and making lots of Christmas memories?

That’s why we offer Christmas loans from 1 October until 20 December to help with the cost of Christmas and give you more time to relax and enjoy the festivities.

Also, make sure you stay tuned for our '2 weeks to Christmas plan', as well as 'how to manage your money - making cuts' coming soon.

 

New current account launched

Our new Engage Current account and VISA debit card is now available to all members, the new account is the first to offer a direct debit facility for an easy way to pay bills and rent payments.

By using the card at participating retailers, you can earn cashback rewards of up to 15% on your shopping.

You can check your balances and recent transactions by using the free mobile app, as well as online with your own e-account.


The Engage e-account also comes with a free money management tool which allows you to place money aside for bills and rent payments to prevent accidentally overspending.

You can order your new card by visiting Castle & Crystal or applying online.

 

Reminder: Banking deadlines

A reminder to members that the banking deadline for receipt of same-day share withdrawal requests is 2:45pm. Any requested funds should reach your account within 24 working hours.


Anything received after 2:45pm will be processed the following working day. Please note all share withdrawals are subject to AVAILABLE funds.


If you are sending funds to a building society, making a bill payment or paying someone else please include the required reference number or roll number in order to ensure the funds reach the account.

 

Increase in ISA limit

We offer variable rate Cash ISAs to our members. This is a tax-free savings plan that can give you a good return on your investment, making your money work harder for you.


From April 6 2017 to April 5 2018, the amount members can put into a variable cash ISA with Castle & Crystal will be £20,000 a year. Please fill in our 2016-2017 ISA application form or apply in branch.

 

Look at how we have helped our members

View all of our testimonials here to show how Castle & Crystal have helped our members during the course of 2013 and beyond.


Your feedback is always welcome. Please contact us if you wish to make a comment.


Tel: 01384 815771


Email: castle.crystal@dudley.gov.uk


Address: 25 New Street, Dudley, DY1 1LT

 

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