The title will combine finance news from BBC television, radio and internet brands with the financial acumen of FT Business to inform readers how to manage their personal finances better.
BBC shows including 'Moneybox', 'You and Yours' and 'Working Lunch' will feature heavily in the magazine, as will their respective presenters Paul Lewis, Liz Barclay and Adrian Chiles.
The title will be BBC branded and under full BBC editorial control.
Investors Chronicle editor Matthew Vincent has been appointed editor while Radio Times editor Gill Hudson is editor-in-chief.
Brian Whittaker, publisher of BBC Magazines, said: "How to Be Better Off will take up a unique position in the personal finance market.
"Intrinsically linked to BBC programming output, it will be welcomed by those crying out for starightforward and practical personal finance advice that's easy to understand, easy to act upon and not time consuming to follow."
The title will cost £3 and hits newsstands on September 8.
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