How to budget with personal accounts
Accounts Book
We all have money coming in and going out and it helps to keep track of all your money on paper or a computer. I prefer a simple accounts book. It doesn’t have to be a a special book. I use a simple hard backed book from Poundland. (more…)
Thrifty Thursday 12
I have done some research this week into how people spend their money. I found that many aristocrats are quite thrifty! I have looked at two groups in particular; the people who are very thrifty and the people who are not thrifty at all. I’m going to compare the thriftiest with the wasters! (more…)
Money | Investments
Saving
In a recent survey the average family was said to have just over £3,000 in savings; not really enough to get into serious investing. You do have to start somewhere though. It is important to understand the nature of money and the way it is devalued by a constantly increasing money supply. The Bank of England keeps issuing the stuff and our money gets devalued by inflation. In real terms if you have £3,000 in savings, you need a return of 5% or £150 just to stand still and not lose money. This is virtually impossible because you want instant access to your money; in case of emergencies. Most instant access accounts offer pathetic interest and the rate often includes a ‘bonus’ for the first 12 months. You then have the hassle of moving it from one account to another, if not one bank to another. (more…)
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