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Golden Rules of Budgeting

Be honest - you'll be surprised how much everything adds up if you really think about how much you spend. Try writing everything down for a week - coffee on the way to work, drinks with friends, magazines… you'll soon start to see where your money goes.

Be realistic - you can only plan based on the money you know you have coming in and once your spending is under control. So don't be over ambitious with your plans. Be realistic and you're much more likely to succeed.

Be prepared to change - if you get to the end of every month and find you're living off credit cards, exceeding your overdraft limit, or struggling to pay bills, something needs to change. The good news is there are lots of small changes you can make that will add up to a much healthier budget.

Day to Day Budgeting

The most effective way to manage your day to day budget is to work out where all your money comes from and where it goes - using a budget calculator might help you do this.

Reviewing your budget regularly might help you ensure that you keep a full grasp on your financial situation.

Thinking about your future as early as possible may help prevent problems occurring later on.