![]() ![]() In turn, this will speed up the process of balancing your budget. Taking out a 0% balance transfer credit card could cut your interest costs dramatically, allowing you to pay off your debt more quickly. With most credit card providers charging typical APRs of up to 19%, owing even a modest amount on your plastic could cost a significant sum in the long run. If you have existing debts – particularly on credit cards – these are likely to be an expensive drain on your budget. The tips below will help you stay on track with your financial goals. Once your budget's in place, it's sadly quite easy to lose track of it and switch back to autopilot. #JANUARY BUDGET WORKBOOK HOW TO#Tip: you can keep up with the latest best rates on savings in our guide to how to find the best savings account. Budgeting is about being prepared for things like this, not just maximising your disposable income. ![]() It might be tempting to reduce the amount you're putting into savings, but that money will be important if you ever face an unexpected expense such as a home repair or increased bill. In the example above, our budgeter reduced their spending on alcohol, leisure and 'other' to keep their outgoings below their income. We’ve included multiple forms of income just to show how that would work, but you may well just need to include your monthly salary here (which would be much easier). Here’s our example of the ‘income’ section of a budget. If your main income arrives more frequently, you may prefer to make a weekly or fortnightly budget. In the example below, our budgeter is paid a monthly salary and they do occasional freelance work on the side. information on any other income you may have.Ī lot of this 'paperwork' will be virtual these days, so it might be best to open up several tabs and emails on your phone or laptop or print things out if you think it'll help you. ![]()
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