Managing money can be stressful, and most of all, time-consuming. When you’ve got a busy life juggling your family and your job – you want your finances to be the least of your worries. The more that you can do behind the scenes to help your money take care of itself, the less you’ll have to worry about. Take a look at some of the following tips to help you change the way you manage your finances.
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Separate your spending
While it can seem simpler to have one bank account to handle all of your money, it can actually be easier to separate things. Having a separate account for all of your bills, your everyday spending and your savings can help you divide your money and stop you dipping into each pot. Work out how much you need for each account and set up monthly payments to help you keep your accounts in order.
Use a spare change app
You know how when you spend cash, you end up putting all of your spare change in a jar? Well, now you can do the same with your debit card spending. There are some fantastic spare change apps out there which could help you to collect some extra pounds and pennies without you even noticing. Some spare change apps will even invest your money for you, so you could even grow that helpful pot behind the scenes.
Automate your payments
There are no excuses for missing payments and with direct debits, you don’t have to remind yourself to make the payments. Set up direct debits for all of your essential payments, meaning you’ll never miss a payment again. If you want to cut down on how many payments you have to make for credit cards, loans, etc., https://debtconsolidation.co could help you condense your payments into one simple monthly payment. Remember to check your account regularly to make sure there aren’t any inconsistencies or irregularities that could signal a problem.
Create a budget
A budget can tell you exactly how much money you have to spend each month, making it easier for you to manage your money. Spending some time looking at your income and your outgoings can help you identify some easy areas to make savings, and could help you make better choices about your spending. Swapping takeaways for home cooking and nights out for Netflix could soon help you make some simple cuts. By setting yourself a budget that you can stick to – you won’t have to think so much about your finances. You can adjust your budget as things like your salary or financial circumstances change to help make sure you’re always on top of your money.
Staying on top of your money is easy once you lay the groundwork, and all it takes is a little time to put everything in place. As a key life lesson to learn, managing your finances should be at the top of your priorities. Start putting your finances in order to enjoy the peace of mind knowing your money is taken care of.
*this is a collaborative piece / AD