Do you struggle to manage your money effectively? Sometimes it can seem like money comes in and out of your account so quickly that you lose track of where it is going, and this can make it very hard to save or put aside any money to pay off your existing debts. However, there are a number of straightforward steps that you can follow to ensure that you keep on top of your finances.
For example, set up direct debits to leave your accounts at the start of the month, so that you know exactly how much you have to work with once your monthly commitments (such as the phone and utilities bills) have been taken care of. You may find that you actually have more left over than you expected! Once you have paid the monthly bills, use one of our household budget calculators to work out how much you should allow for all your essential spending over the month. By sticking to this plan, you will be able to be stronger about resisting the impulse buys that can inflate your living costs each month. You should also consider withdrawing your weekly 'allowance' from the bank at the start of the week and leaving your debit/credit card at home. All of these steps will help you to keep control of your finances, and avoid getting into an end-of-the-month money panic.