News

Successful budgeting skills can earn you €€€ and help you save for those expensive items like holidays, a new car or school trips for the kids. It’s also a great way to keep on top of finances and ensure you have extra cash at the ready for bills, repairs and any other expenses that crop up. Here are our top tips for successful budgeting:-

• Put as much money left over at the end of the month into a high interest savings account. This will help your money to build up quicker without impacting on your day to day living costs.

• It’s essential to be realistic, if you get a big car bill one month, it’s important to cut down on clothes shopping and days/nights out to compensate for the extra cost. Understanding your finances and keeping a strong hold on where your money is going is the best way to avoid debt.

• Never underestimate your outgoings as it will defeat the entire purpose of setting a budget! Instead, keep a careful record of what you have and are likely to spend  so you can set clear cut ways to save money and afford all of those monthly expenses.

• Forecast the year’s events and expenses as far in advance as possible. School holidays, Christmas, birthdays and extra gas/electricity usage in winter all cost extra money – if you factor these extra costs into your short term savings, you’ll avoid the stress that comes with an unexpected bill or overdue payment.

• Scour the internet for useful budgeting tools. If you’re not sure how to map out your budget, they can be extremely useful. Try the planner on for example
• Identifying ways to cut costs without impacting (too much!) on your lifestyle is the key to successful budgeting. Try swapping meals out for pizza nights at home and exchange expensive days out for some fun activities to do at home.