If you have a tendency to overspend then I hope you find this lense useful.
With levels of debt increasing, it's now even more important to get control of your money before it takes control of you.
When it comes to money we tend to fall into one of three main categories: spend less than we earn, spend what we earn, spend more than we earn. Which one are you? Download the free Money Habits Checklist to see how you're doing.
As more and more people find it hard to get through from one month to the next, take a look at what you can do to get your finances in order. Avoid the need to use your credit cards to fund your spending, leading to further bad habits.
Start creating some good financial habits by taking a look at where you are now.
Here are a few tips to help you get on the right track now:
This Month's Money Saving Tip:
A monthly Tip to help you keep more of your money.
If you want to make a difference to your money then these money tips are intended to help you to reduce your outgoings and increase your bank balance.
Only Buy What You Need
It's easy to get carried away in the New Year Sales, so only go shopping for things you really do need and only buy what you can afford.
Get over 50 free tips with my money e-course.
Only Buy What You Need
It's easy to get carried away in the New Year Sales, so only go shopping for things you really do need and only buy what you can afford.
Get over 50 free tips with my money e-course.
More Month Than Money
Seven Steps To Financial Freedom
Stay in control of your money with this complete e-course.Discover seven simple steps to start making your money work for you.
You'll find out how to save money by reducing your outgoings.
You'll be able to put together a savings plan and create your fund for emergencies and you'll learn the benefit of long-term investment.
"Wow! I feel like I just had a religious experience. What an amazing and useful tool. Great work Clare, and thank you for being such a huge contribution to the world. Just to be able to get that is amazing. I have nothing to say but Bravo!!!" [Jay Pryor]
Full details here - More Month Than Money.
Free Money Habits Checklist
What are your current money habits?
Get a free Money Habits Checklist.
- Would you like to build up you savings?
- Would you like to reduce your debts?
- Do you spend more money than you earn?
- Do you need to get control of you money?
- Are money worries affecting your health or relationships?
Teleclass: Get Control Of Your Money
Discover key tips to help you to manage your money more wisely.
* Are you spending beyond your means?
* Do you need to improve your budgetting?
* Would you like to start saving for your future?
* Are you just getting by from month to month?
How would you define your spending pattern? How do you know that you're overspending? It might seem obvious - you're overdrawn at the bank, your credit card bills are at their limit but what problem does your overspending cause?
Do you know how much you earn? What are all your sources of income and ALL your outgoings? Do you know how much you spend each month? More than you earn, less than you earn, no idea? What is the minimum you need to live on - just the basics: rent/mortgage, utility bills, food and essentials?
Discover the importance of planning and budgeting. Avoid things getting out of control and start saving for your future.
Full details and to register for the Money Management Teleclass on Tuesday 18th November by clicking here.
* Are you spending beyond your means?
* Do you need to improve your budgetting?
* Would you like to start saving for your future?
* Are you just getting by from month to month?
How would you define your spending pattern? How do you know that you're overspending? It might seem obvious - you're overdrawn at the bank, your credit card bills are at their limit but what problem does your overspending cause?
Do you know how much you earn? What are all your sources of income and ALL your outgoings? Do you know how much you spend each month? More than you earn, less than you earn, no idea? What is the minimum you need to live on - just the basics: rent/mortgage, utility bills, food and essentials?
Discover the importance of planning and budgeting. Avoid things getting out of control and start saving for your future.
Full details and to register for the Money Management Teleclass on Tuesday 18th November by clicking here.
What would you like to save for?
Saving up for something special, just for your or for your future?
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Keep A Money Diary.
If you don't know where you spend your money, you can't start making changes.
It can be surprising where all the 'cash' goes. You probably don't really think about it on a daily basis. After all you probably just go to the cashpoint, press a few buttons and if your account is in credit, you get what you money out. What exactly do you spend it on? Where does it all go?
Keeping a money diary can help you get an idea of the flow of cash out of your bank account. Whether it's cash, cheques, cards or just those monthly bills.
Get a small notebook, carry it with you and write down everything you spend, as soon as you spend it, every day for the next week. Every bill, standing order, newspaper, snack, bus fare, coffee etc.
It can be surprising where all the 'cash' goes. You probably don't really think about it on a daily basis. After all you probably just go to the cashpoint, press a few buttons and if your account is in credit, you get what you money out. What exactly do you spend it on? Where does it all go?
Keeping a money diary can help you get an idea of the flow of cash out of your bank account. Whether it's cash, cheques, cards or just those monthly bills.
Get a small notebook, carry it with you and write down everything you spend, as soon as you spend it, every day for the next week. Every bill, standing order, newspaper, snack, bus fare, coffee etc.
Your Monthly Expenditure.
What do you spend each month on the basics: rent/mortgage, utility bills, food and essentials, meals out, entertaining, clothes, holidays, presents, credit card repayments etc. etc.?
Gather together all your salary slips, receipts, bank statements, credit card statements, details of loan payments, mortgage, your money diary, etc%u2026 - anything which shows money coming in and money going out.
Are you spending more than you earn, less than you earn or about the same?
Gather together all your salary slips, receipts, bank statements, credit card statements, details of loan payments, mortgage, your money diary, etc%u2026 - anything which shows money coming in and money going out.
Are you spending more than you earn, less than you earn or about the same?
Create an Emergency Survival Fund.
How much do you need for the basics like mortgage, rent, insurance, bills, food and car each month?
Aim to save at least three times this amount in case of emergency. If the worst happens, you lose your job, go sick, have a career change or just go through a difficult patch, you will have a financial cushion to support you.
Put it in an account with easy access but with a good rate of interest.
Aim to save at least three times this amount in case of emergency. If the worst happens, you lose your job, go sick, have a career change or just go through a difficult patch, you will have a financial cushion to support you.
Put it in an account with easy access but with a good rate of interest.
Save 10% of your income.
Pay yourself first. As a minimum put aside at least 10% of your monthly salary. Set up an automatic payment straight out of your bank account into a savings account.
Initially, place it somewhere with easy access, preferably earning the highest rate of interest available. Never under the mattress! You never know when you might need it and you're starting to invest in your future.
The only way to get rich is to save and invest! Start thinking long-term for your savings - five years or more, not just saving for the next holiday.
Initially, place it somewhere with easy access, preferably earning the highest rate of interest available. Never under the mattress! You never know when you might need it and you're starting to invest in your future.
The only way to get rich is to save and invest! Start thinking long-term for your savings - five years or more, not just saving for the next holiday.
Reduce Your Debts.
If you have debts, how much are they and how much will it actually cost you once you've paid it back? What would you rather be spending that money on?
How many debts do you have - loans, outstanding credit cards etc? What interest are you paying and over how long? How much will you end up paying in total?
If you can create some spare money each month, can you put it towards 'busting' some of your debt?
Clear your debts first before you start saving.
How many debts do you have - loans, outstanding credit cards etc? What interest are you paying and over how long? How much will you end up paying in total?
If you can create some spare money each month, can you put it towards 'busting' some of your debt?
Clear your debts first before you start saving.
Become a Savvy Buyer.
Always take a little bit of time and effort to shop around for the best deals - don't just buy the first thing that comes along.
How often do you check out the best deals available for insurance, mortgage, fuel, credit cards? Check out all the brokers and online insurance companies for the best quote.
Use cost comparison sites such as www.kelkoo.com or www.dealtime.com. You can also save money by switching to a different energy supplier via sites such as www.uswitch.com.
How often do you check out the best deals available for insurance, mortgage, fuel, credit cards? Check out all the brokers and online insurance companies for the best quote.
Use cost comparison sites such as www.kelkoo.com or www.dealtime.com. You can also save money by switching to a different energy supplier via sites such as www.uswitch.com.
Get Sound Financial Advice.
While you can discover a certain amount from newspapers, magazines and the Internet, it's always worth discussing your financial requirements with someone who knows what they're talking about.
Talk to a Financial Advisor. They usually offer a variety of products from different companies. Find someone by recommendation. Have an informal chat with one or two, to find someone you feel comfortable with.
Be clear about what you want from your investments. Are you looking for growth, future security or an income?
Talk to a Financial Advisor. They usually offer a variety of products from different companies. Find someone by recommendation. Have an informal chat with one or two, to find someone you feel comfortable with.
Be clear about what you want from your investments. Are you looking for growth, future security or an income?
Motley Fool
A great site for all things foolish (and money related).
Fetching RSS feed... please stand byBook Recommendations
The Money Tree: Help Yourself to Greater Wealth, More Security and Financial Happiness
A great book for understanding the basics of saving, investment and managing your debt.
Amazon Price: (as of 12/29/2009) 
The Soul Millionaire: True Wealth is Within Your Reach
Amazon Price: $29.97 (as of 12/29/2009)
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
Amazon Price: $11.02 (as of 12/29/2009)
The Financially Confident Woman
Amazon Price: (as of 12/29/2009)
Money Saving Websites
A selection of websites that will help you reduce your outgoings and increase your income.
- The Motley Fool
- A great source of all things financial. Good common sense advice in a clear, easy to understand format. US and UK sites.
- Dealtime
- Cost comparison site with pricing, reviews and ratings
- Debtors Anonymous
- Recovery from problems with debt.
- Debt Dr
- Helpful advice and solutions for a life without debt. (UK based)
- Ebay
- Sell the stuff you don't need or search out bargains for things you want to buy.
- Freecycle
- The Freecycle Network is made up of many individual groups across the globe. Find your local group and give and receive stuff for free.
- Kelkoo
- Shopping and cost comparison site for pretty much anything for the home and work.
- Money Saving Expert
- It's about cutting bills not cutting back and being a sassy consumer. Companies try to screw us for profits. MoneySaving shows you how to (legally) screw them back.
- Skype
- Make and receive free phone calls using your broadband connection.
- Store Plus
- Great offers on utilities, electricals, entertainment and gifts.
- Utility Warehouse Discount Club
- Save money on your gas, electricity and phone bills, including broadband (UK Residents only).
- XE.com
- Currency Exchange calculator - instant conversion on most main currencies.
Save Money On Your Energy Bills
If you life in the UK - you can save money on your gas, electricity and phone bills, including broadband.
There is no minimum contract term on most of the services offered, so you can cancel at any time simply by giving 30 days notice.
All your services come on one bill, no matter how many services you take.
Unlimited free calls at any time of the day, to any fixed telephone number in the UK, depending on the number of different services taken.
Click here to find out more.
There is no minimum contract term on most of the services offered, so you can cancel at any time simply by giving 30 days notice.
All your services come on one bill, no matter how many services you take.
Unlimited free calls at any time of the day, to any fixed telephone number in the UK, depending on the number of different services taken.
Click here to find out more.
Related Books
The Kind Diet: A Simple Guide to Feeling Great, Losing Weight, and Saving the Planet
Amazon Price: $17.54 (as of 12/29/2009)
Baby Bargains, 8th Edition: Secrets to Saving 20% to 50% on Baby Furniture, Gear, Clothes, Toys, Maternity Wear and Much, Much More!
Amazon Price: $12.21 (as of 12/29/2009)
Last Child in the Woods: Saving Our Children From Nature-Deficit Disorder
Amazon Price: $10.17 (as of 12/29/2009)
Seed to Seed: Seed Saving and Growing Techniques for Vegetable Gardeners
Amazon Price: $16.47 (as of 12/29/2009)
Saving the World (Maximum Ride, Book 3)
Amazon Price: $7.99 (as of 12/29/2009)
Guestbook and Comments
Give me your feedback - what questions would you like answered, anything I can do to help your money management issues?
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Reply
- Springbok Springbok Jul 6, 2008 @ 12:29 pm
- This website has it all, it has great resources as to how to save money and books from Amazon that are very relevant to the lens and the advice given by Clare is sound financial advice.
I often ask my clients if they have an emergency fund for those emergencies that just happen? Those little emergencies can often be the start of a downward spiral into debt when the debt is put on a credit card. Surprisingly, most people don't have any real savings and when the car needs a new gearbox they often borrow on their credit cards and then another emergency arises and before to long their credit card is full and they then start to struggle with the payments.
If only most people would set aside 10% of their income as a Safety net/emergency fund they would have some support when an emergency happens.
The advice provided here is the same advice I provide my clients with. I will recommend this site to my clients as it is very informative and offers a great resource for people
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Reply
- anilg anilg Jun 17, 2008 @ 10:38 am
- Nice lens with lots of useful information. If you are willing to make money online, then please visit my lens
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Reply
- Sara J Sara J Mar 16, 2008 @ 12:28 pm
- All this is great advise..IF.. you have money to get there. I Don't care about a roth or being a billionare, I need a plan to get out of a hole my husband put us in and a buget to live on with a 40,000 dollar income/year. I want to pay my over piced house pymt and my car payment, and still have money left for my electric and food. I wish I could hire someone to help. Any suggestions?
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- gearon_garlic gearon_garlic Oct 17, 2007 @ 12:32 am
- Soo interesting and informative lens, thanks! FIVE STAR By me. If
you have some time, please take a review to my American
Express credit card lens.
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Reply
- KimberlyDawnWells KimberlyDawnWells Aug 8, 2006 @ 1:21 pm
- Credit card companies are evil...but that's a whole 'nother story. :) I recommend The One Minute Millionaire. Easy read, good story, and applicable for anyone. I recently created an ambitious plan to get out of debt and start a Roth. I sleep so much better at night!
by clareevans
Clare is a Personal and Business Coach who works with busy, individuals and small business owners to help them plan and organise their time...
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