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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Try our overdraft calculator

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We're here to help. If you want to speak to our dedicated team please select the 'Chat now' button on the right hand side of the page.

Our fully trained team have lots of experience with financial difficulty, and we'll take time to understand your individual situation and discuss the options available to help you.

We will need to get an accurate picture of your situation so please have a few details to hand:

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

You'll find most of this information on your bank statements or by looking at your bank account online. If you don't bank with NatWest, then call your bank as soon as you can.

If you give us authorisation, we're happy to talk to a relative, friend or debt counselling organisation about your accounts.

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