The first things you have to take into account when you receive your payslip are the unavoidable demands made on your salary by the Government, namely income tax and National Insurance contributions. These are generally deducted before you see your money. The amount you see as ‘net pay’ is yours but needs to be managed effectively.
It is essential to draw up a list of income and outgoings. Taking your outgoings away from your net income will give you the figure you have left to meet other needs; it may not be a lot but it gives you a starting point from which to work, and can highlight areas in which you can economise. For example, on a working day, you may wish to buy lunch from the nearest supermarket but this could cost around £5 per day. You could reduce this significantly, actually saving over £1,000 a year, by making the effort to prepare sandwiches at home.
Paying regular utility bills by direct debit saves money because most companies will give you a discount for paying by this method. Equally, paying bills on time will prevent extra charges being made. Certain bills, unfortunately, just cannot be avoided because we all need to live to a decent standard
A great way of ensuring that you waste as little as possible is to keep your shopping trips to the minimum; this reduces the temptation to waste money on non-essential items but also cuts down on fuel and transport costs.
You work hard for your money so make it work hard for you.
its the shopping trips that do me, I go with good intentions, a list but still buy things and throw it away a week later. i think i have the 5 a day in my head, must buy fruit and veg and they never all get eaten