We can all struggle to make decisions from time to time, and when it comes to money, the hardest part is often knowing where to start.
Financial matters can have an impact on our wellbeing, and ultimately we all want peace of mind and to feel confident when making decisions about money.
Shona Lowe, a financial planning expert from abrdn.com, suggests some starting points to improve your financial wellbeing…
1. Have a clear budget
“Creating a plan and sticking to it will help your confidence and overall approach to your money,” says Lowe.
Analyse your spending habits from the last six to 12 months so you can see where you spend the most – and also where you could make any savings.
Write down your expected outgoings for the next month. If you have any money left over, you can perhaps think about your other financial goals, such as saving and investing.
If the outgoings are more than your income, consider where you could make changes. If you have problems with debt, making a list of what you owe, to whom and how much is a good place to start, as is getting copies of your…
