Five ways to make your money go further
1 SAVE FIRST, SPEND LATER Around 60 per cent of us save money either every, or most, months, according to research. If you are struggling, try using the 50/30/20 approach to budgeting. This means allocating 50 per cent of your take-home pay on your needs (bills, food, minimum debt payments), 30 per cent on wants (eating out, leisure, sport, etc) and 20 per cent towards future you (saving for emergencies, short term and long-term goals). This split may not work for you when money is tight, so simply adjust the ratios as you go. 2 SPENDING DETOX Have a weekly no-spend day or monthly minimal spend week. It’s no bad thing to have the occasional spending detox – not only will your bank account feel healthier for it, it will make you more…