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Financial Planning week 27th Jan - 2nd Feb

Journalist: Colin Low

ended 27. January 2025

Next week is Financial Planning Week (as promoted by the CISI).  It would be great to have 5 days of news stories from Monday to Friday.

So on Monday, we'd love to deal with best tips and advice solely on the topic of BUDGETING.  What ONE piece of advice do you give to help people budget?  Short and sweet!!!  

4 responses from the Newspage community

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Ben Perks
Managing Director at Orchard Financial Advisers
One of the few things you can guarantee lately is, prices will rise. When Budgeting, don’t just factor in the price of things you currently pay, make sure there is wiggle room. As prices rise you want to be able to maintain payments and lifestyle.
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Ross Lacey
Director & Independent Financial Adviser at Fairview Financial Management
Look at what you're spending and where. Budgeting doesn't neccessarily mean spending less. It's about spending money on things that give you the biggest return on life and improve your day to day. Re-allocating where you spend can make for a happier, more fulfilled and less stressful life if done right!
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Joshua Gerstler
Chartered Financial Planner & Wealth Manager at The Orchard Practice
However much money you have, if your money out is more than your money in, you will feel poor. Know how much income you have on a monthly/annual basis and ensure you do not spend more than this. If you want to go one step further and grow your wealth, before you spend anything, put 10% of your income into your investments. It will quickly add up and grow.
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Colin Low
Managing Director at Kingsfleet
I would recommend that everyone creates a separate Bank Account for their Direct Debits. They can then transfer sufficient into this account on payday and know that whatever remains can be spent on discretionary items safe in the knowledge that there is ample money covering all their commitments.