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How to improve your finances?

At one time or another, everyone has probably struggled with money. It can be complicated to know how to start monitoring and managing your spending. However, there are easy steps you can consider getting on the road to financial success and independence.

Here are some elements which you can consider right now, to improve your situation:

Outline your Financial Targets

The first thing to do is to set financial targets, to be able to efficiently manage your finances. Do you want to visit your dream place? Pay off your debts? Or start saving for a house?

Setting objectives can help you stay attentive and encourage you to minimise excess spending. Adding limits to your ambitions also give you a timeline to work with, forcing you to stick to it and prompting you there’s an end in view.

You will also need to create a visual, that will help you stay updated on your success. For example, a progress bar taped to your fridge. You will be more motivated to spend cleverly as you will see for yourself moving forward on the way to the finish line.


Being organised is a vital step you need to consider, for a better financial life. First of all, set any bills you can to autopay. Sometimes, when someone misses a payment, this could be detrimental to your financial future and credit. You need to make sure all the bills are paid on time.

Plus, you need to be vigilant of how much money you currently have in your accounts, including savings. In life, everyone gets emergencies. In fact, they are part of life which no one can ignore. On top of that, they happen so often when you least expect them. It is therefore very important to be prepared. According to several experts, an individual need to save for at least six months of living expenses. This is to make sure of the financial stability, without depending too much on credit cards.

Make a Budget

The basic of budgeting is to know exactly where all your money goes. You have to track every cent for a month such as, food, utilities, rent etc. Even counting your breakfast or favourite happy hour drinks. You should try using one of the many spending trackers to ensure this process is as smooth as possible.

Depending on your spending, make a budget by deducting all your bills and purchases from your earned income. If it happens that you are earning more than spending, congratulations! The extra money can be put away towards your other financial targets or savings.

Even when you play online, at sites like Bingo Extra you get to control how much you spend. The site offers limits that you can set daily, weekly or even monthly. That’s up to you to decide after planning your budgets.

Capitalise on your Money

Whether you are having excess income or overspending, it’s always a good idea to capitalise your money and reduce extravagant spending. Adding little things up can impact finances in a big way. You should get rid of the magazine that you never read or gym membership you never use. By trimming spending and excess waste, you will be surprised by the additional money you never knew you had. And that too, the money which can put towards your financial aims.

Everyone has perhaps fallen on tough times, and it probably won’t be the last. With a lot of discipline and a little planning, you can enhance your financial situation. The best tip is to always set up a proper planning and tally up your budget as it stands!

Tim Burch is a writer, blogger and former professional poker player, who now specialises in high-risk investment strategies.

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