Introduction

This manual will help you get back in control of your financial life. It explains the steps you need to follow to manage your money properly and gain the benefits of doing so.

Do you get to the end of the month and have no idea where all the money has gone? Are you are constantly hitting your overdraft limit or even seeing your credit card balances slowly creep up and never seem to be able to stop this? If so then it is likely that you are not in control of your finances. 

The benefits of being in control

One of the main reasons why individuals struggle financially is that they do not know how much money is coming in each month and more importantly what is going out and where this is being spent. When this is the case, it is not surprising that people have little or no savings and start to fall into the trap of debt. 

If you are able to understand your budget and manage your money properly, you will start to see huge benefits. Your stress levels will reduce because you will know that there is enough money to pay the bills when they are due. You will pay less interest to your bank and to credit card companies because you reduce the dependence on credit. You will also buy the things you want more cheaply because you save for them and therefore pay with cash rather than expensive credit facilities. You might even be able to start to save for a rainy day.

It is important to remember that simply by reading this manual, your financial future will not suddenly become a bed of roses. Managing your money takes time and effort. This guide will give you the information and tools to help you but it is not a magic wand. Ultimately your better financial future is your responsibility and it will take effort on your part to achieve.

However, by using the methods explained you will be well on the way to controlling your finances and getting into a position where you are able to manage the financial problems that life throws at you.

Your first step is to understand your income and outgoings.