No idea how to best manage your money and wonder if you can ever afford to get a mortgage to buy a house? Here are some tips

There is no doubt most of us can do better with our money.  I can teach you how to manage your money. If you learn some basic principles you will be able to afford to save and get yourself into a home, or whatever else that might be important to you.

Here are 10 Simple tips for managing your money:

  • Review your budget or if you don’t have one, develop one.  This will help you get a better understanding of where your money is going.  Remember you only get to spend your dollars once so make sure you get the best value out of what you are spending.

  • Think twice about putting anything on credit.  Better still swear off consumer debt for life and don’t ever get any.

  • Reduce your expenses.  Look at your budget and look at ways to decrease your expenses and cut back on your spending.

  • Increase your income.  Can you work extra hours or get a part time job?

  • Raise some cash.  Go through your cupboards and use up food that you have been storing.   Sell stuff.  What items do you no longer use that you can sell?

  • Put together a repayment plan to pay off any debt you.

  • Make sure you have an emergency account or rainy day money.  If you need some money you have a backup.

  • Put any spare money you have into a separate savings account, earmarked for the purposes of getting a mortgage?

  • Get help. Use the Budget Advisory services through the Citizens Advice Bureau.  Ideally see a qualified financial adviser.

  • Review your goals and keep positive.

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