Personal Accounts - clever ways to manage your account

After finding the right bank and the right account, you may be tempted to rest on their laurels. However, if you want to make the most of your money, you need to give regular attention. The financial world is changing constantly, with new offers and opportunities cropping up every season. To take advantage of them, you must keep your finger on the pulse.

Not only should maintain a flexible approach, but be prepared to do some 'research to keep abreast of the latest financial news. No need to be a stockbroker to read the pages of money - most of the Sunday newspapers carry a finance section aimed at the average person. The Internet can also be a good source of up-to-the-minute articles - check Yahoo or the BBC in their sections 'Personal finance'.

Besides keeping an eye on the money market, you should have a clear idea of ​​how your accounts. Stay abreast of any direct debits and standing orders - pay your bills in monthly installments can save the hassle of posting checks, spread the cost of services, and often gain from special discounts if you pay this way. However, monthly payments can cause problems if you do not have enough money in your account - expenses to go beyond the agreed overdraft facility can be dangerous and are money down the drain. Try to arrange for direct debits to come off around the same time - a few days after payday is usually a good time, and you'll often be able to choose what date. When budgeting, aim to plan for the whole year and not only from month to month.

Credit card companies offer introductory rates for new customers - if you do not mind changing cards every six months or so you can avoid paying high interest rates. Look for 0% APR offer on balance transfers and especially those who do not charge a balance transfer fee.

If you have debts, (and these days most do to some extent), make sure you are above them. The worst thing you can do is ignore them - make sure you know what I need, and how much interest you are paying. It might be a good idea to consolidate your debts - for example the conversion of balances of credit cards in a low-interest loan or second mortgage. Allocate what you can comfortably afford to pay each month and stick to it. If you are struggling with debt, contact your debtors. They are often able to help you plan your repayments, and will certainly be more understanding if you keep in touch.

Citizen Advice Bureau ([http://www.citizensadvice.org.uk/macnn/]) can offer support and counseling, as well as National Debtline (http://www.nationaldebtline.co.uk/): Toll 0808 808 4000.