OK, so now we have debunked some myths about budgeting, are you ready to take control of your money, so you can stress less about retirement, and live a better life too? Here are 9 tips gleaned from 30 years of helping people with their money. Follow these, and you will be saving money like a pro in no time. Tip 1 - Trying is better than not doing at allTry. Some people get so overwhelmed getting started that they don’t bother. You might find it tough to start. I promise you, it will be rewarding if you stick to it. Tip 2 - It gets easierMost of us don’ t like change, so the first few months could be frustrating as you adapt. But keep doing it, it gets better. Once you get in the swing, you’ll have money left over before you know it. An awesome feeling!! Tip 3 - Budget for the unexpectedKeep a miscellaneous category in your budget, for odd bits and pieces. Tip 4 - Be flexibleYour budget is not there to tell you how broke you are or what you can’t do. It allows you to control where your money goes. Tip 5 - Teamwork keeps you focusedBudget together! If you’re married, it should be both spouses. Singles could have an accountability partner. That means you have someone (maybe a flatmate) to help you remember all the things you forget to include. Tip 6 - Set aside some fun moneyDon’t forget to budget in fun money, whether it’s for date night, eating out, or shopping. If you don’t, you won’t stick to your plan. Not sure how much? Check out the 70-10-10-10 plan here. Tip 7 - Know your trouble spotsThat could be beer and pizza, the online betting account, or a shoe fetish. You must be diligent about planning, so you know what to do in case you have the urge to splurge. This applies to any category where you tend to overspend. Tip 8 - Allow for seasonal expensesChristmas and birthdays are a great example. Maybe money needs to go in a separate pot for those expenses during the year. Tip 9 - Give yourself time to plan each monthThe most important tip of all. Set a reminder in your calendar each month to evaluate the month that was and plan for the month that will be. Do you want to see how how clients Mike and Helen are now on track for a stress free retirement by putting these tips in to motion (and saving an extra $15,000 per annum)? IMPORTANT This information is of a general nature only and may not be relevant to your particular circumstances. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. See full Terms and Conditions here.
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29/6/2020
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