Five Wastes of Money to Cut Out

As part of my ongoing frugal blitz of my finances I have now identified 5 things I waste money on on a regular basis which I will now cut from my expenditure going forwards. These are common items which most people will buy now or at some time.

By opting for an alternative I can save a considerable amount of money each month!

Pre-packed Sandwiches

This is big business – everyone is selling them – supermarkets, newsagents, petrol stations. I usually buy a sandwich for my lunch as there is a large supermarket near my office. When you add the cost of the sandwich, a packet of crisps, a drink and some fruit I am easily spending upwards of £5.00 per day for lunch.

Are you £1 ahead or £1 behind?

I was reading an excellent post over at Seth Godin’s blog which got me thinking about budgeting, wealth and financial independence.

The article talks about how over 2 billion people on this planet live below the poverty line.

Small Increases in Income Make a Big Difference!

When considering income and expenditure, we need to calculate total expenditure, and then deduct this from income. This gives what I like to think of as “true disposable income”. Any small increase in income can therefore have a leveraged effect.

Retirement is an income, not an age

It occurred to me recently with all this talk about the need to raise retirement age in the Uk due to our ageing population, that many people have got it wrong.

Top 10 Articles – April 2009

This article contains the Top 10 articles read by our visitors in April 2009. There are some fantastic articles here covering ISA’s, increase in ISA allowance, changes in the Budget 2009, Inheritance Tax planning, 10 Great reasons for writing a will etc. Read more…..

Income Protection Insurance (PHI) – an introduction

Many people have heard of income protection – yet many remain unsure exactly what it is and how it can be used to protect their family and themselves.

As the name suggests, Income Protection Insurance, previously known as Permanent Health Insurance (PHI), is a type of insurance which is designed to replace lost income in the event of long term illness or accident.

Needs and Wants – the Basics of Budgeting

In order to make decisions about what steps to take with the various aspects of your personal financial planning it is important to take a “snapshot” of where you are at at this moment in time.

A plan is just that – a plan – you decide on where it is you want to “arrive”, consider your current “position” , weigh up the various methods of getting there and choose the path which seems most appropriate to your current family situation, income profile, future employment prospects.