Managing your money will always be challenging. The key to successfully managing your money, is to learn what you can do with the money you have, and make the most of the money you earn.
Set up a budget:
- Make a list of your income sources. Make sure you always use your after-tax income in your calculations.
- Try to set aside a reasonable percentage (e.g. 5%) of your income for savings. Keep yourself financially safe.
- Subtract your average monthly or weekly expenses from your savings and income. This will show you how much spending money you have.
- If you must get credit, make sure you use it wisely! Bad credit will stick with you for a long time, and will impact you when making large purchases, such as a car.
- Calculate all the expenses you will have to pay a month in advance. Don’t leave yourself shortchanged and open to getting into debt.
- Learn the difference between gross vs. net income. Budget to the latter.
Invest in your future:
- Have money deducted directly from your weekly/monthly wage into a savings account. Do this through an electronic funds transfer.
- Establish an emergency fund for things like car repairs, or unexpected expenses. Do not abuse this emergency fund!
For a free financial consultation, or just to speak to someone about your money worries, do not hesitate to contact us on:0151-203-2737.
We provide many financial services including: Investigations into mis-sold PPI, Remortgaging, Bank Charges, and more recently, Tax refunds on traveling expenses to and from a temporary work place.You don’t have to face your money troubles alone.