Budgeting tip
Set aside money for your financial goals as soon as you get paid.
This way, money goes straight into your savings for things such as future holidays, or your retirement, so you don’t have to track expenses and wait until the end of the month to see what you have left over.
For example, you may ideally save ten per cent of your income for retirement, five per cent in an emergency fund and five per cent in a holiday fund.
You spend the other 80 per cent on essentials and enjoying life.
With costs soaring, you can reduce these percentages.
If you’re hitting your savings goals, and not sinking into debt, you’re doing it right.