Most of us probably resolve to be more sensible with money in these times. We're going to live frugally, save regularly and not go into the red. But, myteriously, within a few months we seem to have run up a credit card debt and blown our savings on aholiday. The truth is that you don't need cast-iron dicipline or the wisdom of Warren Buffett. Here are some easy steps to get you from profligate to prudent this year - while still enjoying life.
Finds out if your books balance.
get out all your bank statements and work out how much you've earned - include benefits and interest savings - and how much you've spent overthe past year.
Bank onlines and check your balance twice a week. This will give you a clear idea of what's going in coming out.
Junk useless direct debits. Don't just go on paying for that life cover you don't need.
Build up a rainy-day fund. Set up a monthly direct debit to put money aside in a high-interest account.
Organise all your payments. Have your direct debits going out just after your sallary is paid in. The resris yours - to transfer into a savings account paying better rate of interest than your current account. Transfer back as and when you need extra cash.
Buy now, pay at once. If you can't afford something on month, with until the next
Use your credit card sparingly. Pull out the plastic when you absolutely have to have that half-price dress in the sales. But always pay it off before it incurs any interest.
Always shop around when contracts like your internet smd mobile phone service provider - come up for renewal. Dont forget to ring your existing provider to see if it can offer you something better.
Buy treats with reward points schemes. Use all those points you've accumulated on your various cards cards to give yourself a treat. Spoil yourself - after all, you deserve it.
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