Online banking 'can help with money management'

Using internet banking could be an effective way for people to keep track of their debts, it has been suggested.

Britons should consider the use of an online bank account in their efforts to manage money.

So claims Moneymagpie.com founder Jasmine Birtles, who notes that consumers should make use of internet banking to check their UK account on a regular basis.

By doing so, not only can they keep track of their money management - "to see what's coming and what's coming out" - but they can also ensure that their account has not been compromised by fraudsters.

Indeed, she notes that such crime is becoming increasingly prevalent.

Those looking to get to grips with their finances may also be interested in her points that a household's main monetary objective should be to clear off any debts owed on credit cards.

"If they have got credit card debt then that should be their first focus", she claims, adding that after this people should concentrate on building up their saving account">saving account balances.

Her comments come as research from the Financial Services Authority revealed that around half of families claim they would not be able to survive for more than a month should illness or some other unexpected event see them lose an income.

By Emma North