Hello I am looking for advice on my finances, thank you if you have time to read and feedback.

I am not very good at managing my finances and would like to be better. I have provided my finances below for feedback. Any idea on what bank account would be best to open? Currently using Monzo however have unmanaged ADHD therefore for longer term savings an account more difficult to access would be best.

Fixed Monthly Bills £936 Estimated Monthly Living Costs £760

Income Monthly Payments £3177

Yearly Savings goal Childs savings £1000 Christmas £1000 Birthdays £1000 Emergency fund £1000 Holiday £500 Everyday buffer £500

  • None of your maths makes any sense.

    1344x12 is 16k not 20

    Fixed bills 936 plus living expenses 760 is 1696 so well beyond your means already.

    Your savings goal is 1/3 slash a quarter of your yearly salary which is impossible on such a low income.

    parent

    Sorry I am bad with maths. The £1344 income is separate to the student finance payments which are £22k a year. I will work that out monthly to go alongside the £1344 and edit the post. Thank you

    parent root

  • Hi /u/ComfortableTea5876, based on your post the following pages from our wiki may be relevant:

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    parent

  • There aren’t more difficult to access bank accounts that’s kind of the opposite of what they’re all aiming for unfortunately for you.

    I suppose you could do premium bonds as these take a few days to withdraw which could let the impulse purchasing pass?

    parent

    Thank you I will read up on these

    parent root