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Are you developing your skills as a budgeting genius, or just want to know a little more about the features of your account that you haven’t got round to using yet? We’ve got a few budgeting tools you’ll definitely be interested in!

Why should I have a budget?

Whether you end up running out of money every month or you find that you have plenty to spare, budgeting tools can come in handy. Extra money in your pocket is always a positive!

If you’re someone who ends up running low on funds and worrying about getting the bills paid, our household budgeting tools could be key to getting your finances organised and your bills out on time.

If you’re all good with the bills, but you have a habit of spending all of your money as soon as it’s in your account, our wallets could make a huge difference to the way you save and spend.

Whatever your needs are, we have a feature that will help you form healthier spending habits.

Household budgeting tools

No one’s perfect, and we’ve all missed a direct debit or two in our lifetime – sometimes you have to pay out for something unexpected and need to take it from somewhere. But if you’re finding yourself short on the bills every month because you’ve spent the money on something else, you might want to put it out of reach to remove temptation.

Having your bills go out on time every month is important for maintaining a good credit score, which will help you get better rates on loans such as a mortgage or car finance later in life. If you miss a bill regularly, it has a negative impact on your credit score, which can see you refused for many financial products; even smaller items such as a phone contract.

Read more: How to budget money and stick to it

There are a few ways you can ensure your credit score can be maintained, or improved.

Direct debits

The Vox Money prepaid card allows you to set up direct debits, meaning that your bills will be taken from your account on the same day each month. Having this in place not only makes for cheaper bills (your provider will likely give you a discount when you set a direct debit up), but it means that you know how much you need to have in your account, and when it needs to be there.

Unlike a standard bank, at Vox Money we believe that it doesn’t make sense to overcharge people for struggling with their finances. Also, your balance cannot drop below £0, so you won’t find yourself hit with any nasty overdraft fees.

Direct debit alerts

It’s pretty annoying when you think you have enough in your account, to find out after missing the bill that you don’t. To make sure this won’t happen to you, we’ve got an alert tool to give you a heads up a few days before your direct debit goes out, so you can double check your balance and load up your card if you need to.

Once your direct debit has gone, or if it’s missed, we’ll send you a ‘Paid’ or ‘Failed’ notification to let you know the status of the payment.

Payment alerts

As well as direct debit alerts, you can set up payment alerts so you know where every penny goes. You can track when money is paid in.

If you’re paying any money out, we’ll also let you know when you add a new payee, and when a payment has been scheduled, so you know when to expect the money to leave your account.

Direct payments

If you’re making direct payments from any of your wallets, you can set up single and regular payments.

Transferring to your card account

Your wallets are there to keep your savings tucked away for bills or a rainy day. That means that you’ll have to move any funds into your card account before you can spend it.

Before any direct debits are due, or you’re planning on a day out, make sure that the money you’ve budgeted for has been transferred to your card account. Don’t worry about forgetting as we’ll alert you when you have a bill due!

Our Rewards programme

One major benefit of a Vox Money account is that you’ll get cashback when you spend your money.

Whether it’s your monthly shop or a treat you’ve been saving for, you can earn up to 13 percent cashback at participating retailers, with the money going straight back into your account!

Read more: Getting cashback with your Vox Money card

Make the most of our budgeting tools for a brighter financial future! Sign up for a Vox Money card to get started.

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