Sorting Out Your Finances | Pip Milburn
If there is something that most of us know how to do well, it is spending money! Getting your finances in order is imperative, no matter how much money you earn or how much debt you have. However, knowing where to start can be a lot easier said than done. After all, we’re not taught about money management in school. So, with that being said, read on to discover how you can get your finances in order.
Put together a budget
A budget is something that everyone should have. It does not need to be complicated. In fact, all you need is a simple Excel spreadsheet. You should have a column for all of your monthly outgoings and all of your incomings, and then you can use the ‘sum’ button to determine what is left every month. This will enable you to see whether you are living beyond your means. It will also help to give you further clarity regarding how much money you can afford to put in savings every month or use to pay off your debt.
Track your spending
This is something that a lot of people don’t do. They decide they are going to start tracking their spending, they have good intentions, yet they give up within a few days. However, with all of the apps and gadgets that are available, it is a lot easier to track your spending than ever before.
Look for ways to reduce your spending
The vast majority of people reading this blog post will be spending more money than they need to. Now is a good time to take a look at what you spend your money on and see if there are any ways you can cut back your expenditure. There are lots of great gadgets to help you with this, including shopping apps that offer great discounts and give you the ability to determine which shop has your product for sale at the cheapest price. You can also download buttons for your browser, which will alert you to any voucher codes before you make purchases online.
Think about your future
Have you got provisions in place for the future? Have you considered contributing to a private pension? It can be difficult to consider the future when you have so many expenses to think about now. However, the longer you leave it, the more difficult it is going to be!
To conclude, sorting out your finances is something everyone needs to address at certain points throughout each year. However, if you use the simple yet effective tips that have been mentioned above, you will be able to regain control of your money and ensure you are not living above your means.
*This is a collaborative post