How to Plan for the Year Ahead

So the New Year has come and gone and it's a time for change. For many of us it means a time to plan for the year ahead – financially. It may sound boring but it's often a necessity. And here's just how you can do it:

1. Budgeting

It's that B word we have grown to hate! It's a dull chore to carry out but having a budget in place can really help you to keep on top of your finances. Taking into account exactly how much you bring in each month as a family and then working out all your outgoings including household bills, fuel and food shopping you'll be able to plan each month - working how much you'll have left over and then the fun bit – deciding what to do with that money!

2. Run Your Home like a Business

The key to success is to be really organised. Make sure you know exactly what is being spent and where, you could set up a spread sheet or just keep a simple list in a notebook along with all the receipts, ensuring you know where every penny is going.

Set up alerts on your phone to remind you when bills need paying. Keep all your filing in check and make sure your emails are organised, you could make folders for your bills so you know exactly where they all are and nothing will get lost.

3. Plan for the Good Times:

It's paramount that you plan for all those essentials like heating bills and food but you also need to plan for the fun things in life. Are you planning a family holiday for the summer? Get the whole family involved in helping you get organised and saving for the holiday. Get a holiday jar and make sure everyone puts their pennies in there.