One of the most important life lessons is taught at school.
You can only spend what you’ve got…unless you get stuck on the treadmill of credit card debt.
Preparing a budget is not an exciting exercise, but it’s a really important one, at all stages of life.
Whether you have just moved out of home and paying rent and bill for the first time, juggling the commitments of a mortgage and school fees, or knowing what type of trips you can take in your retirement – it all starts with a budget.
There are lots of different ways to prepare a budget:
Apps such as …
An excel spreadsheet
A pen and paper
It doesn’t matter how you do it, so just get on with doing it.
The more accurate and detailed, the better, as it will give you more understanding of where money goes, allow you to prioritise spending, and work out how much many treats you can buy yourself.
We often refer clients to our budget calculator – click here and check it out.
You might also find it useful to get your bank and credit card transactions from internet banking over the past year. Download a CSV. File (a type of excel file) and then filter and sort by description to pick up on spending patterns.
The team at GNS Group love educating clients on the importance of a budget and understanding what benefits you can gain from a bit of Finance 101.
For more information, please contact our office today.