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Taking control of your finances doesn’t have to be scaryCredit: Getty<\/p>\n
To help, the Sun spoke to nine of the UK\u2019s top financial experts and asked them about the one golden money rule they always follow in their own lives.\u00a0<\/p>\n
We spoke to entrepreneurs, industry experts, finfluencers and even TikTok<\/a> sensations, to list the most important money<\/a> mantras you should follow.<\/p>\n Here’s what they told us.<\/p>\n Rule: Set up a sinking fund<\/strong><\/p>\n 11<\/p>\n The money influencer and author says savings pots can help you to manage your finances<\/p>\n The TikTok and Youtube money influencer (@Lookingafteryourpennies) and author says: \u201cI am a huge fan of sinking funds and could not imagine managing my finances without them.\u00a0<\/p>\n \u201cThese are essentially savings pots that allow me to save money towards my goals<\/p>\n \u201cThese could range from the mundane such as my annual car insurance payment or the more exciting, holidays and weekend breaks.\u00a0<\/p>\n \u201cBy setting up these savings spaces and contributing to them regularly, I can build up enough cash to pay for these items.\u00a0<\/p>\n \u201cIt takes away the pressure of finding a lump sum at short notice and makes the costs much more bearable.\u201d<\/p>\n Switch bank accounts for free perksSarah Coles, Hargreaves Lansdown<\/p>\n Rule: The golden finance hour<\/strong><\/p>\n 11<\/p>\n Sarah Coles says she sets aside time every weekend to tackle money chores<\/p>\n An award-winning financial expert and one of the UK\u2019s most-quoted money commentators, Sarah keep\u2019s her own finances in check by setting aside a \u201cgolden hour\u201d to tackle money chores.<\/p>\n She says: \u201cIt helps to set aside a specific hour each week to manage your money.\u00a0<\/p>\n \u201cMy husband loves gangster TV dramas, which I find incredibly stressful to watch, so we have an hour every weekend when he gets stuck into the mayhem and I get stuck into the finances.<\/p>\n \u201cIt helps me see where I stand, what bills I have going out and what\u2019s due to come in, and to make sure we\u2019re on track.\u00a0<\/p>\n \u201cIt also makes me focus on some of the financial admin I find it incredibly difficult to get round to otherwise.<\/p>\n \u201cLast weekend I looked for new home insurance and saved about \u00a340 compared to my renewal quote.\u201d<\/p>\n Helen Saxon, deputy editor of MoneySavingExpert.com<\/p>\n Rule: Overpay your mortgage if possible<\/strong><\/p>\n 11<\/p>\n Helen Saxon says that when she has the spare cash she will overpay her mortgageCredit: MoneySavingExpert<\/p>\n Helen joined MoneySavingExpert in August 2019 as Money Editor.<\/p>\n She’s now Deputy Editor, with responsibility for content across the money, utilities, features<\/a> and deals areas of the site. <\/p>\n Before joining MSE and becoming a journalist, Helen spent much of her time talking to them as a PR, first for a debt help<\/a> charity<\/a>, then for a lenders’ trade association.<\/p>\n She says: “Working where I do, you’d expect I follow a lot of money rules. But the biggest one \u2013 and the one that’s likely to save me the most \u2013 is overpaying my mortgage, which is a great way to save… if you’ve spare cash.<\/p>\n “The way it works is that you manually pay more than the contractual monthly payment. <\/p>\n “All excess payments will go towards paying down the amount you borrowed (rather than your usual payment, much of which goes to interest, especially in the early years of your mortgage). <\/p>\n “And this means that with every chunk you pay off, you’re not charged interest on it in future.<\/p>\n “It’s a great thing to do if you’ve already got an emergency fund. Just make sure you check if and how much your lender allows you to overpay each year \u2013 10% of your outstanding mortgage is common as a limit”<\/p>\n Ellie Austin-Williams, This Girl Talks Money<\/p>\n Rule: Make room for fun in your budget<\/strong><\/p>\n 11<\/p>\n Ellie Austin-Williams says budgeting “shouldn’t feel like a punishment”Credit: Handout<\/p>\n As author of financial bible Money Talks: A Lifestyle Guide for Financial Wellbeing and founder of financial education platform This Girl Talks Money, Ellie says budgeting for fun will actually save you cash.<\/p>\n She says: \u201cAlways factor in some fun to your budget.\u00a0<\/p>\n \u201cIf there’s one surefire way to make sure that you don’t stick to a financial plan for long, it’s making it too restrictive and boring.\u00a0<\/p>\n \u201cHaving a budget shouldn’t feel like a punishment, as ultimately, it’s a way for you to take control of your finances rather than your money controlling you.\u00a0<\/p>\n \u201cBy setting aside \u00a35 or \u00a310 each week to allow yourself the odd treat, whether that’s a Chai Latte or a chocolate bar, will keep you motivated and avoid the negative feeling of restriction that can come from a budget that has no room for enjoyment.\u00a0<\/p>\n Baroness Ros Altmann, former pensions minister<\/p>\n Rule: Don\u2019t miss out on free pension money<\/strong><\/p>\n 11<\/p>\n Former pensions minister Baroness Ros Altmann says you should put any spare money you have into your pension<\/p>\n The former pension minister and long-time consumer champion who sits in the House of Lords urges everyone to make the most of top-ups by the government and your employer when you save for later life.<\/p>\n She says: \u201cIf you can spare money and not need it for the foreseeable future, you really should put it into a pension.\u00a0<\/p>\n \u201cThe government rewards you for doing so through tax relief and your employer will also pay money into your fund for you as well.\u00a0<\/p>\n \u201cWorkplace pensions will often double your money on day one.<\/p>\n \u201cFor example, if you put \u00a38 of your own money into a pension at work, and you\u2019re on basic rate tax, you should have another \u00a32 going in as tax relief, which means immediately your \u00a38 becomes \u00a310 in your pension fund and if your employer matches the contributions then you get another \u00a310 from the employer.\u00a0\u00a0<\/p>\n \u201cStraight away, after you put in your \u00a38, there will be \u00a320 in your pension fund for long-term investing.\u201d\u00a0\u00a0<\/p>\n Top tips to boost your pension pot<\/p>\n DON’T know where to start? Here are some tips from financial provider Aviva on how to get going.<\/p>\n Tayo Oguntonade, Mortgage Broker, TV presenter, and financial influencer<\/p>\n Rule: Pay yourself first<\/strong><\/p>\n 11<\/p>\n Tayo Oguntonade says you should make your savings a “necessity rather than an afterthought”Credit: Channel 4<\/p>\n A professional mortgage broker and presenter of Channel 4\u2019s The Great House Giveaway, Tayo also founded an education platform called The Homebuyers Club with wife Antoinette (pictured).<\/p>\n He says this golden rule helped him get on the property ladder.<\/p>\n He says: \u201cPaying yourself first means prioritising your financial goals by setting aside a portion of your income for savings or investments before spending on anything else.<\/p>\n \u201cIt\u2019s all about building a strong financial foundation making your savings a necessity rather than an afterthought.<\/p>\n \u201cIn practice it involves taking your savings as seriously as a bill.<\/p>\n \u201cIn reality we make a real effort to ensure all our bills are paid on time and we need to give our future selves that same respect.\u00a0<\/p>\n \u201cA good way to go about it is to automate your savings using a standing order, potentially after payday.\u00a0<\/p>\n \u201cEnsure you set a realistic goal for savings and if you have any debt to clear that first.\u00a0<\/p>\n \u201cI used this strategy when I bought my first home.\u00a0<\/p>\n \u201cI loved the fact that once I paid myself and my bills I was able to spend guilt-free afterwards.\u201d<\/p>\n Emmanuel Asuquo, Financial Advisor, TV Presenter and Author<\/p>\n Rule: The 48-hour freeze<\/strong><\/p>\n 11<\/p>\n Emmanuel Asuquo recommends thinking for 48 hours before you make a purchaseCredit: Linkedin<\/p>\n A money expert with 15 years\u2019 experience, you might recognise Emmanuel from shows like Channel 4\u2019s Money on my Mind, Secret Spenders and Save Well, Spend Better.\u00a0<\/p>\n Emmanuel has appeared on ITV<\/a> News<\/a>, BBC<\/a> Breakfast, Jeremy Vine<\/a> and This Morning<\/a>. A bestselling author, Emmanuel published Get Your Money Right in 2023 and The Ultimate Guide To Money in 2024.<\/p>\n He says: \u201cWe all know that feeling: your finger hovers over the \u2018buy now\u2019 button, and before you know it, you\u2019ve added another gadget or gizmo to your cart. <\/p>\n “But what if I told you there\u2019s a simple trick to stop those impulse buys in their tracks? Enter the 48-hour freeze!<\/p>\n \u201cHere’s how it works: whenever you\u2019re about to make a purchase, whether it\u2019s something big or small, wait 48 hours before you hit the checkout. <\/p>\n “In that time, I ask my clients to really think it through. If, after two days, they still can\u2019t live without it, then go ahead and buy it. <\/p>\n “But here\u2019s the kicker: 80% of the time, people realise they don\u2019t actually need it at all. That\u2019s a lot of unnecessary purchases avoided!”<\/p>\n Robert Cochran, Engagement and Innovation Specialist at Scottish Widows<\/p>\n Rule: Keep track of your pensions and finances<\/strong><\/p>\n Robert has met with thousands of pension savers over the years\u00a0 and focuses on simple tips to help people make sense of their pensions and get the best retirement possible.<\/p>\n He says: \u201cMy best financial habit – might not seem like a financial habit but it’s probably the most important thing I do. Make it easy to stay connected to my money.<\/p>\n \u201cWhen it comes to helping people understand their pensions – the starting point for everyone is ‘what have I got’ – those who have already downloaded apps<\/a> can answer this question really simply – those who haven’t can’t!<\/p>\n \u201cSome apps<\/a> will allow you to connect your pensions together so you just need to log in to one to see all you defined contribution pensions in one place – making it even easier to keep track.<\/p>\n \u201cAnd the one app that has surprised me this year as to how good it is the HMRC<\/a> app – I’d recommend people download that to get on top of their money, check how much tax they are paying and of course what state pension<\/a> they are on track to get and when.\u201d<\/p>\n Steve Webb, former pensions minister<\/p>\n Rule: Get your paperwork sorted!<\/strong><\/p>\n 11<\/p>\n Former pensions minister Steve Webb suggests keeping all your financial documentation in one place<\/p>\n He says: \u201cThe simplest thing you can do to help get your finances under control is buy a ring binder and stick all your financial correspondence into it.\u00a0<\/p>\n “This can help enormously with things like tracking down pensions that you built up in previous jobs<\/a> or finding lost savings accounts.\u00a0\u00a0\u00a0<\/p>\n \u201cOur personal circumstances often change, as we change jobs<\/a>, move house or even change our name.\u00a0 <\/p>\n “Having the right paperwork can be a nudge to contact people who are looking after our money to make sure that they have up-to-date details and can find us when a payout is due.\u00a0\u00a0<\/p>\n \u201cPutting together your paperwork can also highlight gaps, such as old pensions for which you have no paperwork.\u00a0 <\/p>\n “The sooner you chase up missing information, the more chance you have got of a successful outcome.”<\/p>\n Steve is now a consultant at LCP<\/p>\n Andy Webb, Be Clever With Your Cash<\/p>\n Rule: Switch bank accounts to earn free cash<\/strong><\/p>\n Andy is the money expert at Be Clever With Your Cash, a finance blog visited by more than 12.5million people and viewed more than 20million times. <\/p>\n Before blogging, Andy\u2019s background was in broadcasting. For more than a decade he worked in TV at the BBC<\/a> on programmes such as The Money Programme, The Culture Show and Crimewatch.<\/p>\n He was the resident money expert on Channel 5\u2019s Shop Smart Save Money between 2018 and 2019 and also appeared on programmes such as Right on the Money (BBC One), Rip Off Britain (BBC One) and Steph\u2019s Packed Lunch (Channel 4).\u00a0<\/p>\n He says: \u201cThe one money rule I follow the most is to switch up my current accounts as much as possible. <\/p>\n “It might sound like a faff but you can be hundreds of pounds better off by switching your accounts up. <\/p>\n “I\u2019ve switched 21 times, so I\u2019ve got a good idea of what to expect!\u00a0<\/p>\n \u201cWhen you switch banks you\u2019re essentially moving over all your money and payments from your existing current account over to a new account at a different bank. <\/p>\n “The bank will let everyone know the new details \u2013 from your employer to your gas<\/a> company.<\/p>\n \u201cThere are lots of reasons for switching. I\u2019ve mainly done it for free cash in my current account, which requires you to switch to get the bonus. <\/p>\n “The deals come and go, so I regularly update a guide on our site with the best offers available from each bank, which is a good starting point.\u00a0<\/p>\n \u201cYou might also choose to switch so you can benefit from things like cheaper overdrafts, access to a local branch, cashback on bills<\/a> or fee-free spending overseas. <\/p>\n “Or you might just be fed up with the service provided by your existing bank.\u201d<\/p>\n How do I switch bank accounts?<\/p>\n SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS).<\/p>\n Dozens of high street banks and building societies are signed up – there’s a full list on CASS’ website.<\/p>\n Under the switching service, swapping banks should take seven working days. <\/p>\n You don’t have to remember to move direct debits across when moving, as this is done for you.<\/p>\n All you have to do is apply for the new account you want, and the new bank will tell your existing one you’re moving.<\/p>\n There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account.<\/p>\n You should get in touch with your existing bank for any old statements.<\/p>\n When switching current accounts, consider what other perks might come with joining a specific bank or building society.<\/p>\n Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts.<\/p>\n And some banks offer free travel or mobile phone insurance with their current accounts – but these accounts might come with a monthly fee.<\/p>\n Cameron \u2018Cazza Time\u2019 Smith – <\/p>\n Rule: Automate everything<\/strong><\/p>\n 11<\/p>\n Cameron Smith says he makes sure everything is automated so he doesn’t have to remember to make paymentsCredit: Supplied<\/p>\n Cameron \u201cCazza Time\u201d Smith has a loyal following of more than 500,000 people across his social media channels where he breaks down complex money issues and makes them easy to understand.<\/p>\n That keeps him pretty busy so he uses technology as much as possible to stay on top of his own finances.<\/p>\n He says: \u201cAutomation is a game-changer when it comes to staying on top of your money without constantly thinking about it, and here\u2019s why\u2026<\/p>\n \u201cWe can tell ourselves all day long that we\u2019re going to transfer money into savings, pay that bill on time, or finally start investing \u00a350 a month; but let\u2019s be honest, life gets in the way – we forget, we delay, we just don’t get around to it!<\/p>\n \u201cThat\u2019s why I\u2019ve automated everything.\u00a0My savings, my investments, my bills, even my \u2018fun money\u2019, it all runs on autopilot.\u00a0<\/p>\n \u201cAs soon as I get paid, standing orders and direct debits move my money exactly where it needs to go.\u00a0<\/p>\n \u201cYou don\u2019t need a full financial system overnight, this isn\u2019t about having the perfect set-up or never checking your bank app again.<\/p>\n \u201cIt\u2019s about creating a system that helps you build good habits without the constant effort, taking the thinking out of managing your money, so you don\u2019t have to rely on motivation or memory.<\/p>\n \u201cStart small, maybe by setting up one standing order into your savings account the day after payday and once it\u2019s in place, you can build from there.\u201d<\/p>\n Sarah Pennells, finance expert at Royal London and TV regular<\/p>\n Rule: Invest in your future, particularly if you\u2019re self-employed<\/p>\n 11<\/p>\n Sarah Pennells recommends trying to cut down on your impulse spending<\/p>\n As pension and insurance giant Royal London\u2019s resident consumer finance specialist and an expert on BBC\u2019s Rip off Britain, Sarah says getting a handle on emotional spending triggers is key.<\/p>\n \u201cUnlike planned spending for the things you need and save up for, emotional spending is impulsive and can get in the way of your financial goals.\u00a0<\/p>\n \u201cIt\u2019s nothing to be ashamed of, but if you\u2019re worried about your emotional spending there are steps you can take to tackle it, such as keeping track of your expenses, monitoring your emotions, and analysing your spending habits.\u00a0<\/p>\n \u201cYou can do it on your phone, on a spreadsheet, by using a budgeting app or a notebook.\u201d<\/p>\n Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk<\/a><\/strong>.<\/p>\n![\"Portrait](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/charlotte-jessop-money-754103489.jpg\")
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