Archive for the 'making a budget' Tag

To save money, one of the first steps is making a budget; working out essential costs and setting priorities.

Little Spending Cuts Can Go a Long Way

Virgin Money has a new infographic which illustrates just how much you could benefit in the future by reining in your spending now. The infographic illustrates that you could save up to £5,000 a year by making some lifestyle changes. Saving £5,000 a year for 10 years would net you a total of £55,090 (with […]

Keep an Eye on Your EDF Direct Debit

We signed up to a Fixed Rate Dual Fuel deal with EDF energy in March 2011, when our previous capped rate deal with Scottish Power ended.  I’ve always saved money by doing research and switching to a long term fixed or capped rate deal. With EDF you have to set up a separate direct debit […]

How Much Does it Cost to Run a Car?

There’s no doubt that car running costs can eat up a fair proportion of your current spending. Below I’ve broken down the costs of running a car when you purchase the car upfront, either by paying cash or taking out a personal loan to fund the purchase. There are other options for having a car […]

Working Out a Budget (3): How Much Should I Save?

Trying to answer the question “How much should I save?” is no easy task. In my opinion, you need to work out what’s left of your income after you deduct essential spending. Then you have to decide what to do with that remaining money. Emergency Fund I’d start by saying that having a back up […]

Working Out a Budget (2): Essential Spending

Introduction Once you have worked out your current spending, you can start to decide what is essential spending and where you could make some cutbacks and/or savings. Of course essential spending means different things to different people; my aim is to live well for less, not merely exist on the lowest possible budget. Housing Costs […]

Working Out a Budget (1): What You’re Spending Now

Setting a budget is the crucial first step to saving more.  To start you need to work out your current spending. You can do this in spreadsheet online, but I prefer my sheet of paper. Call me old fashioned, but l like to be able to refer to my budget any time without having to […]