January is here, and so are our New Year’s resolutions. Perhaps one of your resolutions is to get your finances on track and create a budget. Setting that goal might be a great place to start, but how can you be sure you’ll stick to it?
We’re going to give you some tips on how to stay on budget. But first, it’s time to get your detective’s hat on to find out where your money’s going.
Let’s start at the beginning – what is your regular income? Make a note of your salary (after tax), any additional work income (e.g., freelance work), benefits, maintenance/child support, savings interest, investment income, pension income, and any rent from properties.
Who knew sticking to your New Year’s budget could be so easy?
Now, all that’s left is to work out the type of savings account you need, if you don’t already have one set up. Ultimately, your choice will come down to whether you want to be able to dip in and out of your savings or are happy to lock your money away with a fixed rate. Learn more about Marcus savings accounts here.
Whichever you choose, our tips will help you stay on course to achieve your saving goals.