Ten Point Plan
Jasmine lays out a great plan with great advice that should get you on the right financial track.
1. Get a handle on your finances from the start. Do a
Statement of Affairs - a list of the money that comes in each month and a list of the money that has to go out each month. If your outgoings are more than your incomings then you have a problem.
2. Go on comparison sites and switch as many of your
essential bills as possible to cheaper versions. Switch your gas, electricity, loans, bank account, phone, mobile, broadband and anything else you can think of.
3. Get help quickly if you are in debt. If you fear the postman because of the bills and nasty letters from creditors that he brings, you need professional help. Go to one of the free advice agencies or the Citizens Advice Bureau and give the problem to them. They will help you budget, set a debt plan for you and will speak to your creditors on your behalf.
4. Do a spending diary for a month. Take a notebook around with you and write down everything you spend, every day for a whole month.
5. Save money on food. Cut down on food wastage by shopping with a shopping list, planning meals in advance and using up leftovers. Go for value products where possible and make sure you look up and look down at the shelves as the better value brands are usually put on the top or bottom shelves.
6. Make sure you're getting the benefits and tax credits you should be having.
7.
Cash in on your junk. Go through your home and pull out anything you don't want anymore including clothes and accessories, toys, DVDs, books and bric-a-brac and sell them at a car boot sale or an online auction site.
8. Make extra money from home. Even if you are looking after children you can still make money from home. If you have secretarial skills look into becoming a Virtual Assistant using your phone and computer. Do online surveys or try becoming a 'textpert', answering questions that people text in from their mobiles.
9. Get as much as you can for free. Become a mystery shopper and get free dinners and free overnight stays in hotels for doing an online report on them.
10. Get a regular savings habit. Once you have paid off debts, get into the habit of paying yourself first when money comes in. Set up a regular, monthly standing order from your bank account into a high interest savings account so that you build up savings over the years.
Play
Play
Play
Play
