There are many avenues people who have spent too much in the past month can go down in order to gain some extra cash, Confused.com has claimed.
Alessandra Quartucci, head of current accounts at the price comparison website, said that, to start with, people should avoid exceeding their overdrafts, as doing so can incur fees and charges.
"Customers should keep a regular eye on their balance to avoid exceeding their limit or having low funds meaning direct debits can't be paid," she said.
Ms Quartucci went on to say that if a person thinks they could go over their limit, they should talk to their bank before this happens as it could be possible to gain a temporary extension.
"For those with poorer credit histories it may be worth looking at alternative forms of borrowing," she went on to suggest, which could include
bad credit credit cards.
People can also seek free advice from places such as the Citizen's Advice Bureau, which is helpful for "those who are really struggling to manage the finances".
Ms Quartucci's comments follow the recent publication of research by Barclays, which found that almost three-quarters of UK adults over-estimate the amount of money they have in their bank account.
The average amount by which Brits overestimate their bank balance is £70.73, the research revealed.
Londoners were found to be the most out of touch with their finances, overestimating their bank balances by an average of £91.62.
People who used mobile banking tended to have a more accurate idea of their finances, with 84 per cent of these people claiming to know how much cash they had.
Posted by Martin Peacock
