Business
Stop avoiding your bank balance and other ways to manage your money better
BBCWe’ve all looked at our bank account and wondered why we don’t have as much money as we thought we did, and suddenly, the bills, shopping and socialising begin to add up.
For many of us, our relationship with money is strained and dealing with financial matters leaves us feeling overwhelmed or stressed.
If you’re struggling to get on top of your finances, here are four ways to help you manage your money better.
1. Look at when you spend money
Getty ImagesSitting down and thinking about what actually drives you to spend money can help you stop destructive patterns, says journalist and author Anniki Sommerville.
When she previously worked in a very stressful corporate role, she bought new clothes everytime she achieved something difficult or challenging.
“I felt like I deserved to reward myself.
“I had this pattern of spending, which was like ‘you’ve done a really good presentation, now you deserve to buy yourself something.'”
Abigail Foster, a chartered accountant and author, says the easiest way to discover these kinds of habits is looking through your bank statements, to see when you spend the most.
“Is it late at night? Is it the weekends? I have friends that have really bad habits of when they’re bored on the train, they start buying things.”
Understanding these instincts, enables us to put in steps to prevent them.
“You can be better equipped to make an alternative decision and go, ‘Do you know what? I can just take a deep breath and not purchase something.'”
2. Spend an hour a week on your finances
Getty ImagesAnniki says when she was younger, she often felt scared to check her bank balance and avoided dealing with money as much as possible.
This kind of behaviour is often linked to our education, says Claer Barrett, consumer editor at the Financial Times.
“How we felt about maths in school, maybe that burning feeling of shame of not knowing the answer or putting your hand up to answer a question and getting it wrong, that can often make us feel like, I can’t do maths. So therefore, I can’t do money.”
“We should be really pushing on that door and trying to understand more about our financial situation.”
Abigail says the only way to do this is to force yourself to tackle it head on, setting aside a set amount of time each week to look at your bank account and all your outgoings.
“It’s a minimum of an hour a week.
“Just go through your finances and kind of be hit with it. It sounds a lot, but it can be really calming for your nervous system.”
Doing this will often throw up outgoings that you’ve forgotten, such as a subscription for a gym you haven’t been to in six months or a random app you’ve forgotten you’ve subscribed to, she says.
3. Don’t let jargon put you off – ask questions
Getty ImagesOften the terms associated with money can be offputting.
Claer says don’t let words like investing, scare you, instead take time to learn about them.
“Whether we’re talking about stocks and shares, or investing in a pension. We need to give ourselves every advantage financially,” she says.
“So being shy or feeling shameful, not asking these interrogating questions is the worst thing we can do.”
She suggests making a list of things you are unsure about, whether that’s consolidating pensions or asking for a pay rise at work, and slowly working through them.
Don’t be too hard on yourself if you’re just starting.
“We’re all a work in progress. I’ve got my financial to do list at the back of my diary. There are some things that have been on it for more than a year.
“That’s just life, but as long as I can try and do something every week towards making my financial situation a better place, that’s moving forward.”
4. Set up a freedom fund
Getty ImagesMany of us are already too stretched keeping up with the costs of everday living to even think about saving.
But for those who can afford to, Abigail suggests setting up a “freedom fund” to give you options when life gets difficult.
She recommends setting up an easy access account only in your name and not joint, and to put a portion of your income away every month.
Unlike an emergency fund pot for things like unexpected car and house repairs, a freedom fund is money designed to “make you happier.”
“So when a job no longer serves you, you can think ‘I’ve got some money sat away so I can go and look for something else.’
“Or if you want to leave a partner, that freedom fund can give you the ability to walk out.”
Business
Government grant to reopen CO2 plant amid fears of Iran-linked shortages
A mothballed carbon dioxide plant is to be reopened with a Government grant of up to £100 million amid fears of shortages caused by the Iran war.
Business Secretary Peter Kyle signed off the grant to reopen the Ensus plant on Teesside, according to the Financial Times.
It is understood the grant will pay to get the plant up and running again for an initial three-month period.
The plant was mothballed last year after a trade deal with the US cut tariffs on bioethanol, its main product.
It will be reopened due to its ability to produce CO2 as a by-product. The gas is vital for several sectors, including drinks and the nuclear industry, but supply has been disrupted thanks to soaring energy costs on other sources such as fertiliser factories.
The grant for the Ensus plant is the first major intervention by the UK Government aimed at tackling possible shortages caused by the Iran conflict.
But fears range much wider than CO2, with former BP executive Nick Butler telling Times Radio the UK could face oil and gas shortages in two to three weeks.
He said: “There will be shortages and I think the Government now should be seriously planning how they’re going to handle that and part of that is maximising supply.”
On Tuesday, Shell chief executive Wael Sawan issued a similar warning at an industry conference.
Ministers continue to insist the supply of petrol remains reliable.
Energy minister Michael Shanks told MPs on Wednesday the Government was “absolutely not” planning for blackouts or petrol rationing, insisting the UK had a “strong and diverse range of supplies”.
The key question remains how long Iran’s effective blockade of the vital Strait of Hormuz will last.
On Thursday, Foreign Secretary Yvette Cooper will urge Iran to reopen the Strait of Hormuz as she travels to the G7 Foreign Ministers’ meeting in France.
She will make clear that the UK will help ensure safe passage for ships through the strait and provide an additional £2m in humanitarian aid to Lebanon.
Ms Cooper is expected to hold talks with counterparts, including US secretary of state Marco Rubio, France’s Jean-Noel Barrot, and Germany’s Johann Wadephul.
The strait remained closed on Wednesday evening, despite Iran’s foreign minister Abbas Araghchi claiming it was open to “non-hostile” shipping.
The conflict continued with Washington saying it would hit Iran “harder” if Tehran refused to accept it had been “defeated militarily”.
White House spokeswoman Karoline Leavitt insisted “productive” talks were continuing between Washington and Tehran.
But Mr Araghchi said in a message on his Telegram channel, translated from Farsi, that there had been “no negotiations or discussions with the American side” and suggested the US had effectively admitted defeat.
He said: “Didn’t they talk about ‘unconditional surrender’ before? What happened now that they are talking about negotiations and calling for them?
“I will explain that there are no negotiations, but the fact that they are mobilising their highest officials to negotiate with the Islamic Republic indicates their acceptance of defeat.”
Business
Video: How Kharg Island May Change the Trajectory of the Iran War
new video loaded: How Kharg Island May Change the Trajectory of the Iran War
By Peter Eavis, Gilad Thaler, Edward Vega, Lauren Pruitt and Joey Sendaydiego
March 25, 2026
Business
Oil prices volatile as Trump talks up Iran negotiations
Crude rose back above $100 a barrel as the US and Iran clashed over bringing the conflict to an end.
Source link
-
Fashion1 week agoSales at US apparel, clothing accessories stores up 4% YoY in Jan 2026
-
Tech1 week agoJustice Department Says Anthropic Can’t Be Trusted With Warfighting Systems
-
Sports1 week agoMarch Madness 2026 – How to watch in SA, start time, schedule, TV channel for NCAA championship basketball tournament
-
Business1 week agoStocks and pound rise as US rate call approaches
-
Entertainment1 week agoVal Kilmer revived 1 year after death through AI
-
Business1 week agoBrits cashing in jewellery as gold price hits record high
-
Fashion1 week agoSpain’s Inditex FY25 sales rise 3.2% to $46.28 bn amid strong demand
-
Entertainment1 week agoWith few new leads 45 days after Nancy Guthrie’s disappearance, investigation “becomes much harder,” expert says

