Reviewing your current finances

Keeping a regular eye on your personal finances will help you make the most of your money. Reviewing things like your bank accounts, mortgage, pension and savings will also help make sure they're still right for you. It will also alert you early to potential financial problems.

Check your income and expenditure
It's a good idea to regularly check whether your income is:

•enough to leave you with money to spare
•only just enough to cover your spending
•not enough to cover your spending, so you've got a shortfall
You can use the online budget calculator on the Financial Services Authority (FSA) 'Moneymadeclear' website to check your outgoings against your income.

If you've got money to spare, look for savings/investments options that are suitable for your circumstances and will give you a better return.

If you have a shortfall you'll need to take action to reduce your outgoings and/or increase your income. If you're worried about debts you can get free advice.