We all need to learn how to best use the money we have to help us to avoid getting into crisis situations. Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do.
Aspects of the training include How to set up a budget, to get started on your budget, you’ll need to work out how much you spend on essentials; Getting your budget back on track If you’re spending more than you have coming in, you need to work out where you can cut back. Get everyone involved Get everyone in your family involved with keeping to a budget. Cutting your household bills and your mortgage/rent
For many of us, household bills make up a large chunk of our spending. Be flexible Life is unpredictable so try to review your budget and your spending if there’s a change, or at least every couple of months. Paying off loans and credit cards If you have loans or owe money on credit cards it usually makes sense to pay off the debt that charges the highest rate of interest first. Getting help if debt problems become serious If you’ve already missed credit card or loan payments or if you’re behind with so-called ‘priority debts’.
How to save, set savings as a goal, some people find it hard to get motivated about saving, but it’s often much easier if you set a goal. Investing your savings;
If you’re overwhelmed by your debts Often, the hardest part of paying off your debts is taking the first step. It’s easy to feel overwhelmed if you know you’re struggling financially. It’s tempting to bury your head in the sand and ignore your bank statements and demands for payment, but it won’t make the problem any better and could make it worse. So, take a deep breath and open any letters you’ve been ignoring. Once you’ve done this, at least you’ll know what you have to deal with and you can work out what you need to do next.
The Course we offer is run over two sessions normally starting on Saturdays at 10.30am. If you want to join this free course please call our office at 01708 397 484 or email firstname.lastname@example.org