18 Jan 2017 • 3mins •

Your thoughts on keeping a handle on your money


Your money is personal, and so is how you manage it. We all have different methods, different ways of doing things. Whether you prefer spreadsheets, hand-written budgets or simply to take each day as it comes, one thing we all have in common is that we’d rather spend our time having fun than tracking our money.

Over the last year, we’ve delved into the topics and questions surrounding money that affect you most, and uncovered crucial insights into the current pitfalls of money management. Why does it have to be so complicated? Surely keeping track of your money can be easy? And convenient? Can it ever be enjoyable, even? We asked you about the issues you regularly encounter so we could get a feel for what frustrates you most.


Here’s what you taught us:

Balances aren’t always what they seem

It’s a common complaint that bank balances don’t wholly represent the available funds in an account. Truth to be told, sorting out your actual balance can difficult. The rent due tomorrow (and thus ideally not spent today) is still included in your balance. Or, your bank balance includes your overdraft limit and doesn’t take your upcoming direct debits into consideration. It’s often a less-than realistic reflection of your money. For those of you trying to save money, sorting out your balance is even more complicated. Differentiating between your savings and your spending money, especially within one account, can be a real challenge.

Accessing accounts is complicated

We’ve all been there. That moment you just want to know your balance, but have to jump through hoops. What was your first pet called? What was your Grandmother’s maiden name? We all care about security, especially when it comes to money. But does it have to be so tedious? With the current tech landscape, there must be an easier way… What about Touch ID?

Money isn’t ‘monthly’

When it comes to money, everyone’s timelines are different. It’s rare that payday falls on the first or thirty-first, so budgeting doesn’t always fit neatly into a calendar month. From what you told us, most of you usually think from one payday to the next. You know when money’s coming in and, generally speaking, what’s going out for bills. Whatever you’ve got left after that you like to spend on the good things in life, whether it’s now or a bit later. And why not?

Last, but not least, #NOSURPRISES

If there’s one thing you all agreed on, it’s that no one likes surprises when it comes to their money. Not the bad ones anyway!

How about you? Do you feel these frustrations too? Is there anything else that makes managing your money more difficult than it should be? Or better yet, do you have any ideas about how to make things that little bit easier? We’d love to hear your thoughts! Get in touch via Facebook, Twitter or Instagram (and connect if you haven’t done so yet!).

We hope you have a lovely week,

The Yolt Team