SOLO CONTROL
MONEY MANAGEMENT TIPS

So, you’ve just got your hands on some cash – whether its an allowance, or wages from a part or full time job the question is the same – what do you do with it? We know that you’ll probably want to blow some on new clothes or a few essential additions to your CD or DVD collection and, unless someone you know is about to send the boys round, then go for it. It’s what happens after that initial spending spree that we’re interested in.

You’ll get around 587 wage packets in your life (that’s one a month from the age of 16 until you retire). Here are a few tips on how to manage them.

A ‘Proper’ Bank Account
Not the savings account you’ve had since you were five that your auntie still insists on paying your Christmas money into. We mean a ‘proper’ bank account.

If you’re opening an account at a bank or building society you haven’t used before, you will need to take proof of ID with you. Suitable items include your passport or savings account statement, and at least one must show your address. Once you have an account, your employer (or your Mum) can pay money directly into it.

The bank will send you a statement each month showing all your transactions (money you’ve put in and paid out) and your balance (the amount you have left).

The bank might issue you with a cheque book. You can’t usually get a credit card until you’re 18 – but you can get a debit card, like Solo.

What’s a debit card?
How’s that different from a credit card?
So how does the Solo debit card work?
What else might I be able to do with my bank account?
GET HELP!

Monthly Budget Planner
Annual Budget Planner
Jargon Buster