2facemanagement.com

I’m nearing my 30s (next year) and have realised that it is about time that I started to pay more attention to managing my money. I have not yet started a pension but am pretty good at saving and don’t splash out silly money on things I don’t need. Since I came back from a 9 month trip around the world in 2003 I’ve had a steady job which over time has increased my earnings year on year and I have managed to save quite a bit of money. My job is commission based so my general rule of thumb is to spend my basic wage and save as much of my monthly commission as I can.

Every month when I get paid, my wage goes into my current account. The money is then transferred straight into 2 other accounts leaving me with £200 in my current account. The other accounts have a higher interest rate which helps me earn more, and these accounts transfer money into my current account when the money gets low.

I have an ISA which I have been adding as much to as possible over the last 4 years (although the credit crunch as pretty much buggered up the high interest rate) and I think ISAs are a good idea as they are tax free.

I also setup 2 high interest accounts with other banks to earn interest on money I don’t spend and have shares which as you have guessed have also mainly fallen due to the credit crunch. Apart from these fairly standard forms of saving I would recommend getting on the property ladder for anyone who is fortunate enough to have a job which allows them to save frequently.

I may be dipping into my savings for a holiday to New York soon – I’ve never been and really want to go with my girlfriend this Christmas.