How to manage your cash
Thursday, October 15th, 2009You have to be more sensible with your money, at any time of the year. Even if you live frugally and save regularly, sometimes you find that you have run up a credit card debt. While still enjoying your life, you can be more prudent.
Check all your bank statements and work out how much you have earned and how much you have spent over the past year. You can try using an online budget calculator (like moneysavingexpert.com) to make sure you don’t leave anything out.
Bank online and check your balance twice a week. This will give you a clear idea of what is going in and coming out.
Organize all your payments; see to it that your direct debits are paid just after your salary is paid in. The rest of the salary can be transferred into a savings account which pays a better rate of interest than your current account. Transfer back as and when you need extra cash.
Some direct debits can be useless, check to see that you are not paying for your TV charges or home or car insurance in monthly instalments. It is cheaper to pay the full amount upfront.
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