If
you stand still, you are going back ward, because the world is moving forward.
Move with the world.
Find
out How you can stay in control of your finances in the year ahead.
1. Be clear about where your money is
going. Take a hard look at your finances, work out all your income and spending
and look at whether there is any room to cut back.
2. Be realistic about what you can
afford, work out how much you can spend and stick to it.
3. Use standing orders and direct
debits to meet regular outgoings such as rent/mortgage and utility bills.
Arrange for payments to go from your bank account just a fewdays after your
wages have paid in.
4. Try and save something every month,
especially for planned spending like holidays. Set up standing order to a
savings account.
5. Aim to have money tucked away for
unplanned events like pregnancy or redundancy.
6. If you can pay for goods outright,
don’t be persuaded to take out credit unless it really does work out cheaper or
better meets your budgeting plans.
7. Always try and pay at least 10% of
your balance every month on your credit card.
8. If you are taking out new
credit-whether buying a house or getting a loan-think carfully about how you
would manage repayments if interest rates started to rise, or if you suddenly
find yourself out of a job.
9. What seems like a good idea can have
hidden costs. Reduced monthly minimum payments result in larger total payments.
Interest free credit has to be paid off in full before the fre interest period
expires.
10.
Spend
time shopping around before borrowing.
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