Money
Money & everyday finance guides
Bank switching, credit, budgeting and financial resilience for everyday households.
What do you need to work out?
Pick the closest match. Each path leads to a curated cluster of guides.
I want to switch bank
The switch guarantee, what moves, what to check.
4 guides →I want to understand my credit
Credit files, scores, how to improve them.
6 guides →I'm thinking longer term
Savings, budgeting, planning ahead.
6 guides →I'm struggling to make ends meet
Hardship support, debt help, your rights.
2 guides →Editor’s picks
See all 18 guides →Key Guide
4 guidesCore Guide
6 guidesDeep Dive
6 guidesSupport & Rights
2 guidesThe full library
Showing 18 guidesKey Guide
Budgeting Explained
- A budget tracks income and spending.
- It helps you avoid overspending and prepare for irregular costs.
- Good budgeting includes fixed costs, variable costs, and savings.
- Reviewing your budget regularly improves financial control.
- Budgeting reduces reliance on credit and emergency borrowing.
Bank Accounts Explained
- Current accounts are for daily spending.
- Savings accounts are for storing money separately.
- Some accounts charge fees, others are free.
- You can switch bank accounts easily under UK rules.
- Banks are regulated by the FCA and PRA.
Credit Cards Explained
- Credit cards are a form of revolving credit
- Paying the full balance avoids interest
- Minimum payments extend repayment time
- Section 75 offers legal protection
- High interest rates make long-term borrowing expensive
If you can't pay your bills
- Pay the priority bills first: rent or mortgage, council tax, energy, water, TV licence, court fines, child maintenance.
- Tell your energy supplier early. It has to offer help, such as a payment plan you can afford, a payment break or access to a hardship fund.
- Free debt advice is available from StepChange, National Debtline and Citizens Advice. You never need to pay for it.
- A debt adviser can start a Breathing Space: 60 days when most creditors must stop chasing you and stop adding most interest and charges.
Credit Scores Explained
- Your score is based on your credit report, but lenders use their own models
- Payment history and missed payments matter a lot
- High credit utilisation can reduce your score
- Stable personal details and electoral roll registration help
- Improvements usually take time, not days
APR & Interest Rates Explained
- Interest is the cost of borrowing money
- APR includes interest plus compulsory fees
- Representative APR applies to 51% of approved applicants
- Higher credit risk usually means higher APR
- The lowest APR advertised may not be the rate you receive
Overdrafts Explained
- An overdraft is borrowing on your current account
- Arranged overdrafts are agreed in advance; unarranged are not
- Overdraft interest is usually charged daily
- Long-term overdraft use can become very costly
- If you're persistently overdrawn, you may be eligible for support from your bank
Buy Now Pay Later Explained
- BNPL is a form of short-term credit
- Many offers are interest-free if paid on time
- Missed payments can trigger fees and collections
- Multiple BNPL plans can build up unnoticed
- It should be used for planned purchases — not essential bills
Direct Debits & Standing Orders Explained
- Direct Debits are controlled by the company taking payment
- Standing orders are controlled by you
- Direct Debits are covered by the Direct Debit Guarantee
- Standing orders must be manually amended or cancelled
- Both can impact your credit file if payments fail
Hard vs Soft Credit Checks Explained
- Soft checks are for eligibility and identity; they do not affect your score
- Hard checks are linked to credit applications and can affect acceptance
- Multiple hard checks in a short time can look risky to lenders
- Eligibility tools help you avoid unnecessary hard searches
- You can check your credit file for free through major services
Section 75 & Chargeback Explained
- Section 75 protects credit card purchases more than £100 and up to £30,000
- Chargeback applies to debit and credit cards
- Section 75 creates joint liability between lender and retailer
- Chargeback is a voluntary card scheme process
- Always raise disputes as soon as possible
FCA Authorisation Explained
- FCA regulates financial firms in the UK
- Authorised firms must meet conduct rules
- You can check the FCA Register
- Authorisation provides complaint rights
Cooling-off periods
- Goods bought online, by phone or on the doorstep: 14 days, starting the day after they arrive.
- Services: 14 days from the day after you agree. If you asked for the service to start sooner, you pay for what's been done.
- Credit agreements: 14 days to withdraw. You repay what you borrowed plus interest for the days you had it, within 30 days.
- Energy switches: 14 days to cancel.
- You can cancel by email, letter or phone. It doesn't have to be in writing, but keep a record.
Breathing Space Scheme Explained
- Breathing Space pauses most creditor enforcement for 60 days
- Interest and charges are frozen during protection
- Must be arranged through an authorised debt adviser
- Mental Health Crisis Breathing Space has extended protection
- It does not write off debt — it provides temporary relief
Debt Management Plans Explained
- A DMP is an informal agreement to repay unsecured debts
- You make one affordable monthly payment
- Interest and charges may be frozen (but are not guaranteed)
- DMPs affect your credit file
- Free regulated providers are available
Priority vs Non-Priority Debts Explained
- Priority debts carry serious legal consequences
- Rent, mortgage, council tax and energy are usually priority
- Credit cards and loans are usually non-priority
- Protect housing and utilities first
- Free debt advice can help prioritise correctly
Free Debt Advice in the UK
- Free debt advice is widely available in the UK
- Trusted charities are FCA-authorised
- Advice includes budgeting, repayment plans, and insolvency options
- Never pay upfront for debt advice
- Seek help early to prevent escalation
Common Scams in the UK Explained
- Scammers impersonate trusted organisations
- Banks and police will never ask for full passwords or one-time codes
- Never send money due to pressure or secrecy
- Report fraud to your bank immediately
- Action Fraud is the UK's national reporting centre