During these tough economic conditions it is essential to make every dollar go further. For this, we feel it is prudent to look at the cornerstone of financial planning - cash flow and budgeting. Below we have listed a few tips which you may find helpful:

1. Do a budget, and stick to it!! If you would like me to send a budget worksheet to help with this, just let me know.
   
2. For everyday purchases, use cash, not credit cards, as a way to help track spending.
   
3. Drip-feed income into a separate expense accounts - this will allow you to be more disciplined in the amount of money you spend on luxuries, entertainment etc.
   
4. Review your mortgage - take a look at interest rates, fees, eliminate any unused "bells and whistles".
   
5. Consider changing your mortgage repayments to Interest Only to reduce monthly expenditure.
   
6. Use an "emergency" account to create a buffer to meet any unforeseen expenses (eg car repairs, or sick children).
   
7. Take your lunch to work.
   
8. Plan large expenses (eg holiday and gifts) by putting money away into a designated cash account. This will reduce credit card abuse.
   
9. Ensure you have adequate personal insurances to protect your income and/or assets in the event you are unable to work due to sickness, illness or accident. Ill health is the largest cause of missing mortgage/rent payments.

Please feel free to contact me to get any additional information on the above.