Do budgets really work?
There are two basic types of people in the world, those who budget and ensure that there money will see them through and those who spend when they want to and hope for the best. In the good times both strategies can work but in the bad times the need to budget has never been more vital. Keeping a close eye on what is coming in and what is going out will let you plan ahead and try to avoid any difficulties.
The vast majority of financial difficulties in the UK, aside from those associated with property, are brought about because of a lack of planning. Letting credit card debts increase, missing loan payments and over extending your overdraft can be the start of real problems and problems which could take you years to get out of.
A simple budget, nothing fancy, can make the world of difference to your life today and your life tomorrow. There will be times when you are short of money but if that is the case you can try to arrange additional finance prior to the event. Many people in difficulty today have left it too late and let their finances get out of control. A bank is more likely to help you if you are not yet in financial trouble than if your finances are a mess - plan ahead!
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