Top tips for escaping your overdraft

August 2019

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Once you’ve got out of your overdraft, you’ll no doubt want to ensure that you never go into it again. On most accounts you can, of course, simply remove the overdraft from your account, but if you like the safety net, business and mindset coach Caroline Britton has some tips for ensuring you stay out of debt. “First, have a non-negotiable figure in your head that your overdraft will never go below. Then, make sure you check your bank account every day and review your spending monthly, so you know exactly what is coming out and when. A spreadsheet will help you keep track of this, but it’s also a good idea to have a banking app on your phone that you can check routinely in the mornings.” 

Caroline also suggests changing the way you think about money: “Treat it with care, nurture it and be grateful for it. Being good with your money starts with you paying attention to it and using it with the right intention.”

Karen Staniland-Platt