Tag: Money Saving

Knowing how to manage your money is imperative if you want to live a happy life and live below your means while remaining comfortable, and yet this is something that the majority of people don’t know how to do. Being able to manage your money in a way that suits you is something everybody should learn to do. It’s not your fault if you don’t know how; schools don’t teach this kind of skill, but they should! Don’t beat yourself up about not doing it so far, just get started as soon as you can. You’ll get such a sense of freedom when you take control of your finances, and you’ll feel more secure than ever.

Luckily, we live in the age of online services and digital apps, and there’s one budgeting app that can change your financial life for the better. It’s called YNAB, or to give it it’s full name, “You Need a Budget”. Here are some reasons you should give it a chance.

If you don’t have a savings account right now then there is a high chance that you are missing out. Not only will you be missing out on interest and financial security, because it also means that you are unable to protect the assets that you do have as well. Saving is easier said than done, but there are a ton of benefits available to those who do want to save and you can find some of them below.

Studies suggest that 8.3 million people are dealing with debt in the UK alone. As a percentage of the population, it’s around 11%. However, this stat isn’t the most shocking one. The figure that stands out is the average amount, which is at £8,000 by the according to www.theguardian.com. The sad truth is that people don’t have a single debt but many different arrears. And, this makes the process of getting out two, three, four times harder.

A side hustle is almost as common as having a hobby or a favourite pastime – nearly everyone has an interest in something. Side hustles are becoming more popular as people look to supplement their income, as well as pursue an interest outside of the 9-5.

We’re always going to have big expenses in life, but some of them are going to be considerably more expensive than others. And there’s a lot of us out there that can’t come to terms with that fact, and thus we overspend and over budget, which doesn’t make for a healthy household! However, it’s never too late to turn things around. You can still cut a cheaper deal with any service providers, start buying own brand products, and generally just think more about how you spend your money.

Often, we will find ourselves overspending on items we can go without. Making New Year’s resolutions can frequently be disastrous, with 80% of people failing by February and regretting it instantly — have you managed to stick with yours? One of the most common New Year’s resolutions is to cut down on spending, and although this sounds achievable, if you don’t have a fully-fledged strategy in place, the likeliness of failure spirals out of control.

It’s far too easy to feel like a fool when it comes to finance. With the money coming in barely covering the life you want to live, surprise payments lurking around every corner, and pressure to avoid debt coming from loads of places, it’s no wonder that most people struggle with this part of life. Of course, though, in the modern world, there are loads of ways to make any job much easier. With the right time and dedication, you can handle almost all of your financial fundamentals from the comfort of the computer. To do this, though, you first need to know where you can look to get support.