Budget calculator and finance tips

It's amazing how many people simply let the months go by without doing a proper, robust budget. I think we've all been there at some point...

Think of it like a business. Every month, quarter and year you would want to know (and keep a close eye on) the turnover, expenses, net profit. Use the same thought process to set your personal finances up for a positive, refreshing transformation.

1. Fill out and keep a daily record of what you spend. Do this for a month and at the month end review what you have spent. You may well be alarmed by the amount of money going out and what it's being spent on. A good, tangible example is someone buying a coffee each day at £2.....is costing you £60 per month. Use the recorded information to make well informed decisions on what you want to keep and what you will remove. A great way to cut costs and reshape your finances.

2. After recording your income and outgoings the next step is to save money on the essentials. There are many ways to do this such as choosing to shop in a cheaper supermarket, see if you can save money by switching energy provider or by debt consolidationdebt consolidation of your expensive credit cards borrowing into a more efficient loan. Remember that it's possible to shop about, compare and improve what you are paying for all most all of your credit cards, loans, mortgage and insurances. If you are unsure it is always easy to phone up your current provider and simple ask if they can offer you a better deal. You'll be pleasantly surprised what you can save.

3. Planning ahead. By taking a long term view and having a clear plan of your expenditure you can shop about more and ensure that you are always getting the best value for money on everything you buy.  Save money by shopping online or buying at the high street sales. Get into the mindset that you simply refuse to pay full price for anything.

4. A good budget calculator will help provide control over your income, expenditure and spending habits so you can begin saving some money every month to cover any unforeseen expenses. This will also improve your financial standing and means you move from borrowing to purchase the goods and services you want to saving up for them and paying cash or putting down a large deposit.