HOW TO BUDGET

You may have seen a trend on social media known as ‘cash stuffing’, which involves putting cash into envelopes for different uses. Budgeting is a good idea, but here are some safer ways:

✱ Use the right bank. Digital banks Monzo and Starling allow you to create pots dedicated to certain spending areas. You just move your money around digitally using the app.

✱ Try a budgeting app. Don’t want to open a new account? Try Hyperjar (hyperjar.com), where you can divide money between ‘jars’. You have to link your current account to the app, but don’t worry, it uses bank-grade technology to keep everything safe.

✱ Keep a journal. It helps to track your spending and budget.

Find more budgeting tools from the Citizens Advice and governmentrun website moneyhelper.org.uk.