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Mowatt Financial Planning: Financial Planning Week - Budgeting

Monday, 21 November 2011

Financial Planning Week - Budgeting

When asked about their day to day budgeting, it appears that many people in Yorkshire are feeling the pinch. 25% of people in the region are not even setting out a clear budget – the bedrock of any financial plan whilst half (50 %) reported that their household finances have got either a bit or much worse over the last six months.

The current problems in Greece show a stark example of the need to budget at a national level. The situation is no different at an individual level. With the high levels of inflation currently being experienced, things are unlikely to get better in the short term.

Make sure that you have a monthly budget and stick to it. Look for opportunities to cut costs: reduce debts when possible; shop around for a better utility deal (electricity, gas, telephone); shop around for cheaper insurance (home and car).

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