Money management card

Cjs17

Years ago, O2 did a card that you could load with a fixed amount of money each month 
You used the card to make purchases & it would be debited directly out of your bank account 
It was great for ensuring you only spent what you could afford each month
Does anybody know if any organisation does a similar thing

colsten

You can use a prepaid card for this purpose. You should be able to set up a Standing Order that loads your card periodically, or simply load the card as and when you need to load it.

Alternatively, you can get a [second] current account which doesn't allow overdrafts (basic account , or Starling, I think) and only keep your monthly 'allowance' in it.

jbrassy

Was going to say, there are plenty of prepaid cards out there. Revolut would be a good one since it doesn't charge fees to load or make transactions. Starling Bank is probably a better option. Just apply for it and refuse the overdraft. 

Emmia

I have 2 bank accounts (different banks) one receives my salary, and pays out all my direct debits etc, including a weekly "allowance" which goes to a different account - I find this an effective way of budgeting on a day-to-day basis.

Any excess from my "allowance" gets transferred weekly into a linked instant access savings account, and I use that to periodically top up my ISA (or treat myself!)