Budgeting

About The Video.

Making your Money work for you: a video from Citizens Advice. The video is a good starting point for the bigger subject of budgeting.

Establish good habits.
Pay off debts.
Emergency fund.
Set spending limits.
Look to long-term savings.

NOTE: There is a lot of crossover with my page on Cash Flow.

Wellness.

Be ethical in all your dealings: It is my experience that moral principles are more easily applied to others than to ourselves. This is a mistake. Holding yourself to the same standards as others will not only help you to become a better person but will also stop you lying to yourself.
Know yourself and don't criticise yourself: A realistic budget can only be achieved if it works for you not against you, so allowing for something that clashes directly with your beliefs, needs, desires, wants will not be sustainable.
Be happy: It occurred to me whilst I was reviewing a video for this site that the term 'cabbage soup diet' has become a shorthand for unsustainable misery only useful in the short term. Budgeting needs to be the exact opposite. A good budget needs to allow for your happiness. If that means a 'treat' now-and-then, great don't deny it, build it in - Ars longa,vita brevis (“Art is long-lasting, life is short”).

What's Next?

Most spending is regular/predictable. Working in conjunction with the Cash Flow page you need to create a simple budget -

Make a line-by-line list of all weekly/monthly income and expenditure*.
Split this list into bills that have to be paid (non-discretionary spend) and bills that you have a choice in (discretionary spend) eg. property tax/club subscriptions.
Highlight debt payments eg. credit cards and loans.
Include annual bills as weekly/monthly amounts.
Put realistic limits against each line of discretionary spend.
Do the Maths: Income - Outgoings = Disposable Income.

THEN -

Put all of your disposable income into establishing an emergency fund.
Prioritise and pay off your debts as quickly as possible.
Establish regular payments of at least 10% of your disposable income into savings.

*This list will be the starting point for a Financial Diary an important 'working document'.

How Can I Help?

Follow up today with a Seize Control of Your Money Session:
I can help with your specific issues in a private 30 minute one-on-one session delivered live online via Zoom Video. £0.00.
BOOK NOW.

Arrange a 'Personal Finance' online group workshop.

It's important to stress the difference between the principles involved in good financial planning that a Seize Control of Your Money session offers and the advice/sales of financial products, instruments or services of which we have no direct involvement.

IMPORTANT NOTES:
1. No specific advice can be given or implied.
2. James and 469BCe.COM are not authorised or approved for the direct selling of any financial products and/or services.
3. Other than membership to 469BCe.COM all of my services are free. I can, by your request, introduce you to professionals in the financial services industry and may at that point be paid an 'introducer fee'.

This page will not help people struggling with debt. If you are having problems with debt and cannot pay your monthly bills get help today, putting things off will just make them worse.

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Hello,

'"Success through soft skills, continuing education and growth..."

The content of this website is based on my experience, education and the hundreds of coaching sessions I have delivered online.

I am also a representative of an FCA regulated company which means that my financial education activities fall under the rules of a very powerful consumer protection body.

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Coach Walsh 2020.

Please Note;

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