Tanner’s Tips comprises of a father and daughter team, an unstoppable duo fighting apathy in the world of finance.
Budgets, yes I can already hear you all clicking away…
We all hate budgets. However, are budgets necessary? Absolutely. If you have a clear financial plan, you are less likely to spend frivolously.
At the start of the month, write down your total income. Next deduct your necessary expenditures, eg. Rent/mortgage, savings, food, fuel etc.
The best way to get an idea of your spending habits is by budgeting. You will be able to see in greater detail where you are spending too much/unnecessarily, and where you might be able to devote surplus cash to work for you, rather than frivolous spending just because it’s left over at the end of each month. As I said before, don’t wait until you see what is left over every month, save first, spend later. Budget accordingly. If you leave it until the end of the month, you are more likely to spend it, than to save it. You will have that mentality of “Treat yourself”. Instead, why not treat yourself to planning for your future! Plan for a house, a car, a holiday, your kids’ education, or just a comfortable retirement.
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