Don't wait until you're in trouble to review your finances!
While many of us will have a casual look over our monthly expenditure, credit card bills, mortgage payments and the like, the vast majority of us are unlikely to make any significant changes unless we need to. This is one common problem which effectively means that many people in the UK are literally giving away hundreds if not thousands of pounds a year simply by not making more efficient use of their income.
Even though we all do it, why does it need a dose of serious financial problems to review our finances and make savings? Surely we should be looking to make savings on an ongoing basis, in areas such as energy, telephones, Sky TV and other living expenses?
The problem is that many people will not react or even consider changing their expenditure patterns until they are in serious financial trouble and need the money. Even those with a significant buffer between their current situation and serious financial trouble should look to trim expenditure where possible and therefore give themselves even more room for manoeuvre in the future. We are not talking about significant changes, more a trimming of the fat from our living expenses on a more regular basis.
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