Changes in our lives can have a knock on effect on our finances and finances can get out of balance and become a worry. So start off by asking yourself a few questions:
If you find yourself answering yes to at least one of the above, you may find the following suggestions useful.
Complete a monthly budgeting form - this will list your outgoings against your income and help to see the extent of any problem or imbalance.
Then you can perhaps look at ways of reducing your expenditure - look for a cheaper utilities provider, for example, or cut back on any non-essential hobbies and entertainment. Another good tip is to talk to companies you pay by standing order or Direct Debit if your payments are due on an inconvenient date each month, or if you want to find out more about different ways of making your payments.
Part of the problem with money worries stems from the fact that, for whatever reason, it's just not the "done thing" to talk about it. In reality, it's the best solution, which is why we're happy to discuss your concerns at any time, day or night. If you are a first direct customer you can talk about your accounts with our Credit Solutions team on 03 456 100 189. If you're not a first direct customer, or you'd like to talk to someone independent, there are a number of organisations who can help you, free of charge:
You can also use the Money Advice Service money health check tool (opens in new window) to get a clear picture of where you stand with your finances.
If you're feeling emotionally distressed about your finances, you can talk to the Samaritans 24 7, in confidence and without judgement - phone 08 457 90 90 90 (UK) or 1850 60 90 90 (ROI), or visit the Samaritans website (opens in new window) to find your nearest branch.
Your eligible deposits with HSBC Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. This limit is applied to the total of any deposits you have with HSBC Bank plc and first direct.
Any total deposits you hold above the £85,000 limit between HSBC and first direct are not covered.
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