Should you have money left each month but it just seems to vanish? If you are paying off debts, it is still useful to have a bit put aside so it's easier to cope with unexpected problems. This article looks at Plum Basic, an app that takes the hard work out of saving. It moves small amounts that you won't miss from your bank account into a savings account several times a month. (Originally … [Read more...]
Budgeting & Savings
Good budgeting is the cornerstone of dealing with debts. The basics are covered in Top tips for simple & realistic budgeting that works.
If your debts aren't out of control but you want to pay them off as quickly as possible, taking control of what you spend will help you get there faster.
And having some savings will make it easier to stick to a budget month after month, rather than having a crisis every time an unexpectedly large expense happens.
Smart meters let you see the cost of the energy you are using immediately. 14 million households already have smart meters. But how useful are they in practice? And are there any problems? And is your supplier saying you have to get a smart meter as your meter is dangerous? There is one big issue you may not have heard of... This article looks at the pros and cons when you are thinking … [Read more...]
Many people want to reduce their gas and electricity bills and are wondering if switching to a prepayment meter will help. So could a prepayment meter help you to use less energy and budget more easily for these high prices? Sometimes a supplier will suggest you should change, saying the budgeting will be easier. But in 2022 and early 2023, many energy suppliers forcibly installed prepayment … [Read more...]
Do you find it hard or impossible to save? many people feel they ought to be able save but always fail when they try. others are saving for a big goal but not as fast as they want. if you are struggling with money, you may desperately want a small emergency savings pot to make life a bit less stressful. There isn't a simple answer - no way is easy for everyone. What works for one … [Read more...]
Want to lose weight or get fit? Millions of people have this as their main aim for the year. Signing up to an expensive gym isn't always the best way. Not only because of the cost but because you may simply not use it that much. Some new ways to exercise emerged during the pandemic. Many previous gym-regulars decided they weren't going back when gyms re-opened! One thing most people agree on … [Read more...]
Piggy banks are not just cute money jars for kids. Piggy banking is also a system of dividing your money into different ‘pots’, or accounts. Each pot represents a different aspect of your future spending. This approach is also known as "sinking funds", "jam jar accounting" or "the envelope method". All of these names are basically the same thing. Benefits of piggy banking You may have seen … [Read more...]
Is your main aim in 2022 to be better with money, clear your debts or save a house deposit? This could be a New Years Resolution - perhaps the result of a Christmas financial hangover. You could think of this as being a financial detox for when your bank balance looks sick and your debts look bloated. Or you could need it at any time during the year when you realise things have to … [Read more...]
The number of people setting off for the shops in post-Christmas sales in 2021 was down by more than a third compared with 2019. Lots of us are still bargain hunting though, we have just switched to online. But in-store or online, how do you spot the real bargains? It's great to take advantage of a Sale - but can you be sure you are not the one being taken advantage of? There is a whole … [Read more...]
Here is my pick of apps and other #FinTech (Financial Technology) products that help you budget and save if you live in the UK. My interest here is people who are short of money. It doesn't include apps getting you to invest in the stock market. But these budgeting apps will also help anyone who doesn't have debt problems but wants to save more, for a house deposit, a big holiday or to … [Read more...]
What should your top priorities be for managing your money? And what should you avoid? Living on a student loan is hard You will probably get more money in your bank account than you have ever had before. But most students find it harder to manage than they expected. It’s not a lot when you look at the bills for halls and the cost of living. And the system expects many students … [Read more...]