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10 top financial tips
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.
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