It is that time of the year when thoughts turn to personal finance. It can seem tempting to beat oneself over the head about having an easy-come-easy-go attitude towards money.
I think a strategy that is more carrot than stick, helps. Keeping track – on a simple spread sheet – of sources of income; where expenditure goes; and where economies might be made, helps. Clarity could certainly supply answers to questions such as:
- Will there be enough money in the bank after the family holiday to make the autumn and pre-Christmas period bearable?
- How tempting does a pay-day loan look?
- Is it time to start buying supermarket own brands instead of the costlier versions advertised on the television?
There’s definitely value in having a personal goal around the effective management of money. There’s also something positive in having control over personal finance, instead of feeling it has a strangle hold over you.