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Managing your money day to day

We all know we should save, but it’s not always easy. Having a financial goal to work towards can provide the incentive you need.


A few tips on saving:

  1. Take a good look at your bank statements. If you have money left over at the end of a month, put it aside. If you don’t tend to have money left over, don’t worry – this just means you may have to find ways to cut back your spending. You can use the money advice service's savings calculator to calculate how long it will take to achieve your savings goal.

  2. Look at what goes out of your account every month. Changing a few little habits like a morning coffee and newspaper, or a weekly Friday takeaway, can make a big difference.

  3. Once you’ve decided how much you want to save, you then need to work out how long it’s going to take you and whether it’s doable on a monthly basis with all your other outgoings.

  4. Set yourself a savings goal. Setting yourself a goal helps to keep you focused. Some people like to write their goals down, or even stick a picture of it on the fridge! Do whatever works for you.

  5. Then it’s time to grab the calculator and do some simple maths. Subtract all of your essential monthly outgoings – like your rent or mortgage, bills, food and transport – from your net income.

The amount you have leftover will tell you roughly what your disposable income is each month.

Be realistic…

Saving every penny of your disposable income is not realistic. It’s much better to set yourself a longer and more manageable goal than a shorter, more intensive one.

Say, for example, you have £250 left each month and you want to save up for a new £600 TV. Saving £100 a month for six months would be a much more realistic goal than saving £200 a month for three months.

If you do find yourself with extra money one month, add it to your savings pot. You’ll be surprised how quickly you reach your goal.

Be flexible...

An emergency or change in circumstance might mean you have to dip into your savings. To get back on track, recalculate how much you need to save each month to reach your goal and, if you can, adjust your spending.

Keep your eyes on the prize

By making the effort to manage your money carefully, you’ll start to see it going that little bit further. This, in turn, will help you take steps towards achieving your financial targets.


Staying on top of your money

There are a few easy ways to stay on top of your finances.


Online banking

Registering for online banking is a simple and secure way to stay on top of your finances. You can use online banking to get a clearer view of where your money is being spent in real-time.

With online banking, you can:

  • Check your balance
  • Search and sort through 13 months’ worth of transactions
  • Make payments to new and existing recipients
  • Manage Direct Debits and standing orders
  • Transfer money between your Co-operative Bank accounts
  • Talk to us over Live Chat, available between 7am and 10pm
Register for online banking

Mobile banking

Our app makes managing your money easier. Check your balance, make payments and view transactions, wherever you are, whenever you want.

With mobile banking, you can:

  • Log in securely and easily with your fingerprint, passnumber or Face ID (only available on iOS devices)
  • Browse over a year's worth of transactions on your current, savings and loan accounts
  • Save and pay a new payee. If you don't want to save a payee, you can make a one-off payment up to a value of £250 in a 24 hour period.
  • Transfer money between your Co-operative Bank accounts and make payments to your Co-operative Bank credit card
  • View and cancel your Direct Debits, standing orders and future dated payments (where you have provided a reference).

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Text alerts when you go into your overdraft

To help you manage your money and limit any charges, we now send overdraft text alerts. This is not available on a Cashminder account.

These alerts will notify you either before you go into, or when you’ve entered into an arranged or unarranged overdraft.

We’ll also send an alert if you don’t have enough money in your account to cover any payments coming out that day.

As long as we have your mobile number, you’ll be automatically opted in for overdraft text alerts. You can opt out of arranged and/or unarranged overdraft alerts at any time by contacting us.

You can find out more about overdrafts here