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Money Management

Have you made a list of income and expenses? No? Make one now and get a grip on your finances whether you are in credit or in debt.

If youíre in credit do your finances need a spring clean to ensure that you are making the most of your money? That you are not paying over the odds for utilities and services, that your savings are getting the best return? That you are not giving out your hard earned cash unnecessarily!

If youíre in debt you have to face up to it, stare it in the face, and face it down. Get help if you have to but overcome it. You can do it! Donít let financial worries grind you down, take action now. Donít be the proverbial rabbit caught in the headlights.

Get your latest bank statement and credit card bills and make your list. Best to do this on a spreadsheet if you have one but you can write it down if not.

Item Action Month Year Action Taken Saving
MortgageGet better Deal580.006960.00Tel. June09*
Local TaxRebate?125.001500.00**
Food/Clothes etcReduce600.007200.00**
Car FinanceChange car220.002640.00**
Club MembershipCancel?150.001800.00**
Life AssuranceCheck70.00840.00**
Home InsuranceCheck20.00240.00Renew Mar09*
TVReduce30.00360.00**
Gas MaintenanceCheck28.00336.00**
GasCheck33.00396.00Web switch Jan0935.00pa
ElectricCheck50.00600.00Web switch Jan0960.00pa
WaterCheck40.00480.00**
Home PhoneGet better deal35.00420.00**
Mobile PhoneReduce30.00360.00cancel 20/01/09New - 180.00pa
PetrolReduce200.002400.00**
Car InsuranceCheck20.00240.00**
Car Tax*15.00180.00**
Car Maintenance*50.00600.00**
******
ContingencyRainy Day150.001800.00**
Service DebtsRe-finance debt500.006000.00Feb 21st - Loan Arranger **
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Total Out*2946.0035352.00**
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Net Income 1*2400.0029400.00**
Net Income 2*100.001200.00**
Other*10.00120.00.00**
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Total In*2510.0030720.00**
Annual Gains**275.00*275.00
Loss*436.004357.00**
******
Savings12000.00****

Now that you can see where you are financially you can take the appropriate action.