Managing Your Money

Managing your money is very important and will help you achieve your short and long term goals. It is also important to have a realistic plan to pay off any debts on a monthly basis. How you manage your money will also determine your future plans for retirement.

If you are ready to get your finances in order, having a budget is the best place to begin. A budget is a record of the money that you have coming in (such as your salary or wage or any pensions) and any money that you have going out (such as bills, living costs, travel and leisure).

There are many websites that have online budget planners that you can use for this, alternatively you can set up a budget spreadsheet at home, or even write it all down on a piece of paper. Many banks and building societies also provide online budgeting tools which will take the information directly from transactions and statements.