Plan Ahead …..

The budgeting process should not only be done once every Christmas. Most probably, many families would not be able to last more than a few months should something unexpected happen which stops them from earning a living. If you are one of these people, maybe it is the time to make some money resolutions to put yourself in a better position.

The first part of our recommendations deals with the “savings” aspect. Get into the savings habit.

Putting a little money away regularly is the best way of saving up for expensive things, like a holiday, furniture, or a special family occasion. If you put aside a little each month it will soon build up. True, as the going rates on local savings accounts are rather low, don’t expect your savings to balloon. However, rates may go up in the future so don’t despair!

Always set yourself a savings goal which usually falls in three distinct categories; emergency funds, short term savings goals and long term savings goals.