Do you feel like you’re spending more money than you have? In this guide, you’ll gain advice and tips on how to master the art of budgeting. Before you know it, you’ll be managing your finances like a pro.
The Purpose of a Guide on The Art of Budgeting
At Cashfloat, we recognise that it’s sometimes difficult to keep your expenses lower than your income. Especially when you have unsecured payday loans to repay. We’ve put this mini-guide out for you, to help you work out a budget that you can use, and stick to!
|Ch. 1a: Discover the Importance of Budgeting|
|Ch. 1b: Managing Budgets and Why it can sometimes Fail|
|Ch. 2a: Budgeting Tips for Teens|
|Ch. 2b: Budgeting for Students – Save Money in University|
|Ch. 3: Young Couples – Keeping Track of your Money|
|Ch. 4: How to Make a Family Budget|
|Ch. 5a: Retirement Planning: Managing your Finances|
|Ch. 5b: Retirement Budget: Working out your Income and Expenses|
We’ll be looking at budgeting and how if you do it correctly, you can save money. We begin by listing reasons why budgeting is essential – irrespective of your age, personal circumstances, financial situation and your needs. Some of us are already familiar with budgeting methods, but somehow, haven’t managed to make it work. The key is to ask yourself why it didn’t work out for you. We analyse the most common mistakes people make when they draw up a budget. We’ll learn where the pitfalls lie, are to watch out for.
Here is one of the fundamental points of the guide. Budgeting is important at all stages of your life but that budgets aren’t one-size-fits-all; different ages have their challenges and difficulties when considering and balancing your income and expenditure.
Teaching Teens about Money
In your opinion, when is the best time to get into the habit of budgeting? Think about this question for a few moments. At 18? When you start your first job? We show clearly in this guide that it’s never too early to start and give tips so that you can start teaching your children how to handle money from a very early age. We concentrate on teens and how the way we teach them about money and how to budget can affect them for the rest of their lives.
Making money last at Uni
From the lessons learnt when allocating their pocket money and how they have to make spending choices, it will be much easier for them to cope when they leave home and go to university. Our guide shows how to prioritise their spending so that their money lasts for the whole term.
Without the safety net of knowing there’ll always be food in the house and bills paid on time, some university students flounder with their finances and get into real difficulties. This could cause them to require same day funding quick loans.
Budgeting as a couple
The next key watershed in anyone’s life is choosing to settle down and live with their partner. For those in a new relationship, money can often be a minefield and one of the main reasons for arguments. Chapter 3 looks at the different ways you can organise your finances as a couple to avoid conflict. Living together can be much cheaper than living alone, so we also explain what to do with the extra money left in your pocket.
After a period of living together, the next step that many people take is to start a family. Once you have dependents, the challenges and decisions you have to make about your budget are very different. We talk about what issues you have to consider as a family and how parents play an important role in teaching their children about the art of budgeting.
Budgeting on a Pension
Finally, retirement can be a time when many people struggle because they haven’t estimated their income and living expenses accurately. Not only do we explain how to draw up your budget but what to do if you find that your income will be insufficient for you to enjoy a decent standard of living when you stop work. After so many years of hard work and sacrifice, you deserve to make the most of your retirement and to do the things you’ve always dreamed of without needing direct lender loans online.
When to Re-Assess your Budget
A budget is important for everyone. However, it is necessary to realise that a budget is never ‘perfected’. In other words, the art of budgeting constantly needs updating and revising as your personal and financial circumstances change. As your short term loans UK lender, this is another important lesson that we want you to come away with. Therefore, reading through these chapters can help you in the future too. It’s aimed at people in different stages in their lives.