Managing moneyIf you are employed, you will receive money weekly or monthly. If you are self employed your income may be more varied – either way, you will need somewhere to put that cash! If you are starting work, or setting up your own business, you don’t need to set up a new account. Many freelance workers use their standard bank account and just keep a note of where the money they bank comes from (which is work related and which isn’t). Other people prefer to set up a new account to help them keep their accounts. If you want to open a new account, either for yourself or for your business, it pays to shop around. Most of the big banks offer free banking for new business and all offer a load of other services to new businesses too, to help you get started. You need to find the right package for you. To find the best bank deal for you, ask at your local bank or check out the finance websites like Find who give information across all the main banks. This link will take you out of the artist’s resource site and to the Find site (www.find.co.uk/banking). NatWest have teamed up with Mind to produce a series of booklets for people with mental health issues on dealing with money. For example, there is one aimed at people wanting to start businesses and one for dealing with personal finance. This link will take you out of the artist’s resource site and to the Nat West site at the section on these publications (click here). Once you have a bank account you need to be able to deal with:
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