Now, more than ever, it's important to keep an eye on your finances, so you don't get any nasty shocks. Use these great tips to help you budget and plan ahead

• Always think ahead! Make a list of all the expensive events such as weddings, big birthdays, holidays you have coming up over the next month/six months/year. You can then plan ahead and ensure enough money is kept aside in advance of these dates.



• Make a budget planner for the month and year ahead by going through your average outgoings and incomings each month. This is a great way to calculate your monthly costs but also see if there are any areas that you can cut back on, such as mobile phone bills etc. You can use an online budget calculator to help you with this, for example try the one at www.bettermoneyskills.com.



• Once you've set a budget, make sure you follow your progress across the month to see if you're sticking to it. Be sure to keep hold of receipts so you can check your daily spending. Internet banking can also be really useful here.



• Think about using price comparison sites whether this is for shopping or for mobile, energy, insurance suppliers etc. Small cut backs can make a big difference over the period of a year.



• When paying back credit card bills try to avoid paying off just the minimum amount each month as this will lead to more interest accruing on your account. Instead pay off the maximum amount you feel you're able to budget for each month.



• Avoid temptation! Just because something is on sale doesn't mean you need to buy it. Think carefully about whether you'll really enjoy using that item.



• Save where you can but also reward yourself occasionally when you meet your goals. Set yourself achievable savings targets and then reward yourself with a treat when you reach them.



• Avoid the temptation to just throw bank statements in the bin as soon as you receive them - they're valuable documents and will come in handy later on. Also throwing them away could put you at risk of identity fraud.



• Keep up to date on the latest money news - make sure to check the personal finance pages in the papers each week for valuable information on money saving.



• Planning your spending can take the financial sting out of big events, such as summer holidays. If you save in the run-up to a big occasion, you may not need to borrow, or to borrow as much.

About Better Money Skills
Better Money Skills is a financial education website launched by Visa Europe in Autumn 2008. The website, designed in conjunction with Citizen's Advice, aims to give an introduction to managing your money, planning ahead and conquering the sometimes confusing world of personal finance terminology. In short, its goal is to help consumers manage their money with confidence.