Time to break up with your bad banking habits

New Year’s money resolutions starting to slip? Don’t stress! Today is International Break Up Day (yes, it’s really a thing) which marks the perfect time to break up with the things that are getting in the way of your financial goals.

You might be reminiscing on a time when you ended a relationship with an ex who wasn’t the right fit or shut down a friendship you were better off without (sorry!). Breakups can be tough, but they’re not all bad and are often a great opportunity to start fresh and find that which is more suited to you.

If you’re ready to take back control of your finances, follow our guide to help kick your bad banking habits to the curb once and for all.

Going through your phone

Keeping an eye on your bank balance and monitoring transactions can be a bore, but failing to do so can be costly. If you don’t regularly check your account, it can be easy to neglect your budget or go overdrawn without realising.

Get into the habit of tracking your spending by checking your balance every few days, or turn on Kroo notifications so you can make more informed choices.

Check those charges

If you’re avoiding tracking your spending like you’re avoiding your ex, you’re likely not noticing the extra costs associated with your account use.

Monthly account fees and overseas transactions fees can add up, so being aware of them and factoring them into your spending will help. With a Kroo current account, debit card spending is free overseas as we pass Visa’s real exchange rate directly to you.

Where does your money spend the night?

There’s no such thing as free money – but keeping your money in a current account that gives you interest is a simple way to grow your funds without lifting a finger.

Don’t miss out on earning on your average balance.

Turn IOU into I ❤️ U

Covered the cost of a mate’s coffee but feel stressed asking for the money back? Join the club. There’s nothing worse than having to ask friends or family for money that you’ve lent them, especially when it’s only a small sum. Although this can feel pretty uncomfortable, it’s better than being out of pocket during a time when every penny counts.

The split bill feature on the Kroo app helps make this process much less awkward. You can easily find friends through their phone numbers and send and request money instantly.

Compatibility test

Reviewing your subscriptions is a great way to weed out any you can cut. You wouldn’t want to put energy into a relationship that isn’t giving it back to you, so why would you pay for a subscription or extra phone data you’re not using?

It sounds simple, but taking the time to pluck out unnecessary expenses is a great way to save money. It may seem like a lot when you’re cutting them out one by one, but a £5 monthly subscription adds up over the year, and when the cost of everything seems to be rising, that makes a difference.