Controlling Your Overdraft | Natwest




Controlling your overdraft

A month doesn’t go by where you haven’t entered your overdraft at least once, or you’ve turned to your credit card in order to afford something. By overspending, you find yourself getting further into debt as time goes on.

Getting into debt occurs when your outgoings are larger than your income. Reducing your outgoings can often be easier said than done but there are a few simple steps you can take to avoid going into the red.

The first thing you can do is to check your statements regularly. Having a clear idea as to how much money you have left in your account should help you to understand how much you are able to spend.

If you have an account with NatWest, you can set up balance alerts, which will automatically send a text straight to your phone should your balance fall below a certain amount.

If you still find you’re overspending, you might want to think about creating a budget, using our budgeting tool.

First, deduct any priority payments, such as rent and bills, to work out how much disposable income you've got left. From there, set yourself limits for the amount you can spend on items such as groceries or clothing to make sure you don’t overspend. You can treat yourself sometimes, but just make sure it’s within your budget.

Another tip to help you when budgeting is to consider making payments using cash instead of your card. You can withdraw a set amount each week and by having the money in front of you, it will help you to see when your funds are running low.

Controlling your overdraft

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When you call us we'll talk through your income (including any benefits you receive) and expenditure (including all of your bills and outgoings), then the options available to you. 

It would be useful if you have the following to hand before you call us:

  • Your monthly income (including any benefits, overtime, bonuses)
  • Your monthly household spending
  • The amount you owe
  • The number of organisations you owe money to

If you don't bank with NatWest, call your own provider as soon as you can.

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