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M&S Bank Money Worries Help

Money worries

Changes in your life can have a knock on effect on your finances. This can lead to your finances getting out of balance and may even become a worry. If you're feeling the pinch, here are some steps you can take to save money or reduce debt and help to get things back under control.

Make savings

There are some monthly costs you have to budget for, like your mortgage, council tax and insurance. But you can save money by cutting back on non-essential items or switching to cheaper options. If you make a list of all your outgoings, including everything you buy, it's easier to see where savings can be made.

Maximise your income

Have you checked your tax code recently to make sure you're paying the right amount of tax? Are you entitled to any allowances or payments such as child benefit, family credit, carer's allowance or Universal Credit? A quick phone call or a few minutes online will give you the answers.

Check your cover

For essential cover like car and home insurance it's always worth shopping around for the best deal. If you have separate policies for things like your mobile phone and glasses, or you've taken out extended warranties, you could be duplicating your cover – and paying more than you need to.

Shop wisely

Even when your budget is tight, you still have to buy the essentials. To get more from your money, try writing out a shopping list before your weekly shop and avoid making impulse purchases.

Talk to us

If you have an M&S Credit Card or M&S Loan and you're concerned about your financial situation, please call us on 0345 900 0900 (local rate) as soon as possible. As a responsible lender we will work with you to ensure you can keep in control of any money concerns you may have, whether they are short or long term.

Get expert advice

There are also independent organisations who give free, confidential advice on debt and other financial problems. They'll even speak to lenders on your behalf, if you want them to.

Further information

The following websites can provide you with further information about managing your money:

Or call 0800 138 1111

Or for help budgeting try their Debt Remedy Tool

Or call 0808 808 4000

Calls are recorded.

Are my savings safe?

Your M&S Bank savings are covered by the Financial Services Compensation Scheme, up to the current limit.

Answers to your savings questions

Debt worries?

If you have an M&S Credit Card or M&S Loan and you're concerned about your financial situation, please call us on 0345 900 0900.

Victim of card fraud?

If you spot suspicious activity on your card account, call us immediately on
0345 900 0900.

Ask Hannah

Have a question about M&S Bank's products and services? Just ask Hannah, our online virtual assistant.