Plan Your Financial Year

It’s a great time of year to make resolutions to improve your financial situation. Top basic tips for getting ahead are:

SPEND LESS THAN YOU EARN. No matter how much you get paid, you will never get ahead if you spend more than you earn. It’s much easier to spend less than it is to earn more. Cost cutting can be small sacrifices that lead up to big savings.

PUT AWAY THE PLASTIC. Credit card debt is the number one obstacle to getting ahead financially.

HAVE A SAVINGS PLAN. Pay yourself first. Resolve to set aside 5 to 10% of your salary BEFORE you pay your bills. Having the money automatically deposited into a savings account from your paycheck is the best way to ensure you do this.

KNOW WHERE IT GOES. Plan with a budget so you know where your money goes. Then you can plan your spending and saving goals.

"My problem lies in reconciling my gross habits with my net income." - Errol Flynn