Build wealth by paying yourself first! Take a paycut and invest this money for your future.
Interesting article at money-watch.co.uk about the variety of Personal Finance Management tools available in the UK.
Anyone who is committed to increasing their personal wealth would be strongly recommended to buy a financial calculator.
I bought my first financial calculator when I was at University some 18 years ago, it was a Hewlett Packlard 10B Business Calculator, and I still use it today. The model has been updated now – Hewlett Packard 10BII – but the new model still offers the same great facilities I have come to know and love.
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!
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.
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.
Please comment below or contact us via our contact page to outline those areas of personal financial planning you are interested in reading about.