| In these straightened financial times, we are all looking | | | | However, these can really add up and dramatically |
| for ways to both save money and make the money | | | | affect your cash flow. Even spending an unaccounted |
| we have go further. Nothing, however, happens by | | | | $5 per day will really add up over the course of a |
| accident. If you wish to establish a sound financial plan, | | | | year, and could spell real problems for those with |
| then it is vital to work out your monthly expenditure. | | | | precarious finances. |
| And, just like with calorie counting, it is vital to do so | | | | Despite the fast-pace of modern living, there are things |
| thoroughly and honestly! Wishful thinking and | | | | you can do to help keep a check on your spending, |
| corner-cutting will keep you locked into the same | | | | making your future calculations easier-and vitally-more |
| existing bad habits that you wish to eradicate. You | | | | accurate. First, carry a small notebook around with you |
| must also ensure that your calculations include ALL of | | | | and make a quick note of all purchases you make. |
| your monthly expenses, not just non-discretionary | | | | You can refer to this as your 'ledger book'. Include a |
| expenses such as mortgage payments, electricity, | | | | brief description of what you bought, where you |
| food bills and transportation. Non-discretionary | | | | bought it, how you paid (cash or credit card) and, of |
| expenses are often overlooked, because they are not | | | | course, how much the item cost. Do this for one |
| always monthly payments. However, these | | | | month and then review your spending. Also, your new |
| non-discretionary expenses all add up, and unless you | | | | practise will have become a habit and you will be more |
| include them in your calculations, you will not be giving | | | | likely to stick to it. You will also have an accurate and |
| yourself a true reflection of your financial picture. Such | | | | up-to-date picture of your current financial state and |
| payments can include items that are paid for in 3, 6, or | | | | where your money is going. Try using these tips |
| 12 monthly increments, such as subscriptions and gym | | | | regularly to help you save and see money come back |
| memberships. For example, when totalling your monthly | | | | to you bank acount for a cange. |
| expenditure, if you make one insurance payment per | | | | If you're stuck and need some help finding good |
| year, divide the total payment by 12 and then factor | | | | information online try using for useful information that |
| this into each month's expenses. | | | | can help you keep ahead of your bills each month and |
| It is also all too easy to overlook non-regular | | | | set aside money for later. |
| expenditures, such as clothing and entertainment. | | | | |