Put spare money to work: ideas that fit your goals

Use this guide when you have money left at the end of most months, a pay rise or a one-off sum, and want to use it well rather than letting it drift. Have your bank and savings balances, a list of any debts with their interest rates, and your latest pension statement. This is general information, not personal financial advice.

Step by step

1. Check your foundations first

   Before anything else, make sure you have an emergency fund in an easy-access savings account; many people aim for a few months of essential spending. Check that priority bills such as rent or mortgage, council tax and energy are fully up to date. If you have no buffer, building one is usually the first job for spare money, as it stops a surprise bill going on a credit card.