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    We all need a helping hand when it comes to looking after our finances. It can be one of the most difficult things to stay on top of. But with these helpful tips, you should be managing your accounts like a pro in no time.

    Budgets

    Everyone needs to have a budget. It’s one of the first things you should do when you plan on spending money.

    Note all the bills you have to pay every month, and how much they are. Then start thinking about what else you spend your money on, like the weekly shopping, and any memberships your may have.

    Once you’ve listed everything, add it all up. You may even find things on the list that you don’t need, which results in saving your money, and who doesn’t want that?…

    Loans

    If you have any loans that you need to pay off. Make them a priority. The more you wait, means the more you’ll end up having to pay off. So as soon as you have some extra money coming in, don’t waste it on something you don’t need – use it to start paying off your loan.

    This will also help in the future if you ever need to ask the bank for a little help. So think about the bigger picture.

    Separate accounts

    It is always a good idea to have another account. One specifically to pay the bills with, and the other for day to day life. This way, you will always be on top of how much money you have. Bills come first, and you should know exactly how much you need to spend on them every month. That way you never have to worry about overspending.

    You could also open a third account just for your savings. Every month you can add to it, and within a year who knows how much you will have saved.

    Bankrupt

    No one wants to end up being in debt, not only does it put stress on you, but it can affect your future plans.

    It happens when someone is unable to meet their financial obligations to their creditors, so the best way to avoid this is to make sure you have the finances you think you have, before making any big deals. (This is why knowing your budget is very important!)

    If you do end up in this situation, you do not have to go through it alone. Consider hiring yourself a bankruptcy lawyer from IRB Law to guide you through what needs to happen next.

    Goals

    It is common for people to lack motivation when it comes to saving up because there is so much temptation out there to splurge on the latest stuff. But by setting a goal, you may just create the drive that you need.

    Whether it be a much needed holiday, a new fancy car, or just extra cash for some downtime – by saving up, that won’t feel impossible anymore!

    So decide on your goal, and go for it!