1. Budget – first and foremost you need to sit down with pen and paper, or excel, and put down your income(s)* and your outgoings! This will show you how much you have coming in and going out. It should also highlight places you are overspending in!
- Have access to your on-line banking or last statement – this will help you remember all your out goings.
- Be ruthless about cancelling direct debits you no longer need BUT be very careful about cutting financial products from your bank account. Please get a review with a Certified Financial Planner® before cutting your financial products.
- a. Debit – cash is KING! When spending on your debit card it can be very hard and difficult to track how much money you spend
- b. Credit – try make 2018 the year that you spend what you have put aside from your personal budget to spend! Don’t spend on credit.
10. Switch providers! – I’m a big believer in getting the best of value out of banks, utility providers, insurance etc. Give yourself 1 hour with a laptop, bank statements, and all your bills, statements/statements. It’s usually better to do this on a Monday to Friday 9-5 if possible so you can speak to existing providers and new providers if needed.
- Mobile Phone
- Home Phone/Broadband
- Car/home insurance