How to Manage Your Money?
Even though we are now at the end of February, many of us are still feeling the effects of the Christmas spend, and recession is making the situation even worse for many people. I’ve always been a big advocate of not spending money that I haven’t got. Obviously if you have young children to clothe and feed this can be easier said than done.
So what can all of us do to keep an eye on our spending during these tricky months? One simple option is to get a notepad and record the your incoming and outgoings. Obviously if the later is larger than your incomings then you have a problem; but once you have discovered this you will be able to do something about it rather than blindly getting deeper and deeper into debt each month.
Another way of managing your money is to cut up those high interest credit cards and instead search around for low interest cards with free transfer rates to put all your debts into one area.
The main thing is not do ignore your bills or panic. Monitor your money and you can then concentrate on putting plans in place to resolve the situation and eventually get yourself out of debt.
