Money Made Clear

A UK money guide

Make sense
of your money.

Open your first bank account, build some savings or get your finances ready for a big life change. Find out what to do first.

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Everyday money

Set up the accounts you’ll use to get paid, cover bills and put money aside.

Bank accounts

Open a current account for your wages, bills and everyday spending.

  1. Compare monthly fees, overdraft costs and whether you can bank in a branch, online or through an app.
  2. Check what the bank accepts as proof of identity and address. Apply on its official website, in its app or in a branch.
  3. If you’re struggling to get a current account, ask about a fee-free basic bank account.
Compare bank accounts Basic bank accounts

Savings accounts

Give spare money a place to grow and keep a buffer for unexpected bills.

  1. Decide what you’re saving for and when you’ll need the money. Easy access can suit an emergency fund. Fixed-term accounts usually limit access.
  2. Compare the annual interest rate, minimum deposit and withdrawal rules. Check what ID you’ll need, then apply directly with the provider.
  3. Start with an amount you can afford. If it helps, set up a regular transfer after payday.
Start saving with MoneyHelper

Planning ahead

Understand what you’ll live on in retirement, how investing works and how to protect people who depend on you.

Pensions

A pension can give you an income when you retire.

  1. Check your State Pension forecast to see what you might get and when.
  2. If you’re employed, ask about your workplace pension and check how much you and your employer pay in.
  3. Keep your pension statements together so you can see what you’ve built up across different jobs.
Check your State Pension forecast Workplace pension basics

Shares and investing

A share is a small ownership stake in a company. You could lose money if its value falls.

  1. Keep money you’ll need soon and money for emergencies accessible. Consider investing only money you can leave alone for several years.
  2. Learn how funds can spread your money across many investments. Check the fees and understand what you could lose.
  3. If you decide to invest, use the FCA Firm Checker to check the provider and its permissions.
Read the FCA’s investing guide Check a firm with the FCA

Life insurance

Life insurance can pay out if you die and the policy’s conditions are met.

  1. Think about who relies on your income and what they’d need help paying for, such as housing or childcare.
  2. Check whether your employer already provides a payment if you die while employed.
  3. Compare how much policies pay, how long cover lasts, what they cost and what they exclude.
Understand life insurance

Life events

Find the first money steps when your family grows or your circumstances change.

Planning a wedding

Agree what you can afford together before paying deposits.

  1. List the costs that matter to you, including the ceremony, venue and food. Leave some room for unexpected costs.
  2. Divide the amount you still need by the number of months until payments are due. Check that the monthly figure fits your budget.
  3. Check deposits, final payment dates and cancellation terms before booking.
Plan a wedding budget

Family finances

Make a household budget that reflects the costs of caring for your family.

  1. Write down what comes in and what goes out each month. Include shared bills, childcare and irregular costs.
  2. If you’re expecting a child, check how your income may change during parental leave and how much childcare might cost later.
  3. Check whether you qualify for Child Benefit or help with childcare costs.
Work out baby costs Check Child Benefit Find childcare support

When someone dies

Start with the registration process, then work through who needs to know.

  1. Follow the death registration steps for the part of the UK where the death happened.
  2. Ask about Tell Us Once in England, Scotland or Wales. Northern Ireland has a separate process.
  3. Contact the bank, employer, pension providers and insurers. Check the funeral costs and what financial support may be available.
Follow the GOV.UK bereavement guide

Wills and inheritance

A will sets out who should receive your money, property and belongings after you die.

  1. If you’re making a will, decide who should inherit and who should deal with your estate. Follow the signing and witnessing rules where you live.
  2. If you’re dealing with someone’s estate, find the will and check who has authority to act. Check whether probate is needed. Scotland calls its process confirmation.
  3. Check what needs to be done about debts and Inheritance Tax before distributing assets. A solicitor can help with a complicated estate.
Make a will Understand probate Check Inheritance Tax

Need a hand?

MoneyHelper offers free, impartial guidance on money and pensions.

Checking a financial offer? Look up the firm and use the contact details listed by the FCA.

Use the FCA Firm Checker
Visit MoneyHelper