Video transcript

When you start earning, it can be difficult to know how best to manage your income. So here are three top tips to becoming confident with your money: Build good habits. Stay in the know. Ask for help.

Firstly, build good habits.

Create a budget - Make sure you account for all the things you need before thinking about things you want, and remember to try to put some aside for saving too.

Forward plan – think about things you might need in the future and start saving early.

Save for a rainy day – this means setting aside some extra money just in case, like if your phone breaks.

Secondly, know your stuff. Increasing your knowledge about all things money will help you to feel confident in managing it, spending it, and saving it. But there are lots of people out there offering advice and some of them have all the gear, but no idea.

So, it’s really important to go to reliable, trusted sources of information for financial tips and advice.

For example: Verified websites like banks, charities, or money saving websites. Reputable influencers who work with well-known and reliable organisations. Or trusted adults, like your parents or carers, teachers or bank staff.

Finally, ask for help when you need it. Let’s say you’ve seen that your favourite artist is doing a gig near you, but the tickets are expensive. If you’re not sure how to save for a goal you could ask someone else to help you or check out a credible website for tips and advice.

Or maybe you’ve received a suspicious message on social media that could be a scam. Ask a trusted adult or website to help you report and block it. So, there you have it – build good habits, stay in the know and ask for help. Three ways to keep you feeling confident about money.