Trying to budget your money

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Growing up I was always careful with my pocket money, always putting it aside with my christmas and birthday money to save for something bigger in the future. I wouldn’t buy things for the sake of it, I would wait and buy something I really wanted once I had saved enough. I feel like learning the value of money from a young age really helped me prepare to become an adult and have more financial commitments.

I remember as soon as I mentioned to my dad about moving out into my own house with my husband(boyfriend at the time) we sat down and worked out what type of property we could afford and also set up a budgeting spreadsheet. To this day I still use my budgeting spreadsheet my dad created for me!

In my spreadsheet it contains month by month how much my regular bills are, water, gas and electric, tv, phone contract etc and then also what months I need to pay for my yearly car mot and insurance etc. This way I can work out how much I need every month and put the same amount of money away monthly and know that when yearly payments come up I have put enough away the rest of the year to cover this rather than getting myself into a panic.

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Not everyone can be in this situation and be able to put more away some months and I know how difficult it can be to ensure you have enough to cover your bills and something that isn’t discussed enough is how helpful short term loans can be.

We have all been there when something goes wrong, maybe it’s your vehicle or something in the house or even being out of work. There can be many hurdles throughout your life where you simply just don’t have enough for your bills and you need a little help.

Many of us don’t want to have to rely on our parents or other family members to help especially when you are grown up so the only option is to look into a loan.

Taking out a short term loan can help you over a few months when you really need it and often the rates to pay it back are a lot better than long term loans.

You may have a bad credit score but this doesn’t mean you can’t obtain a loan, many companies don’t even take into consideration your credit score and look at your current situation and the bigger picture when deciding what you can borrow.

Before you borrow money, no matter how much or who or where from it still is very important to realistically work out how much and when you can pay it back. If it’s for a home repair and you are in a stable job then you may look into a different loan compared to if you are temporary out of work and need it to pay bills.

There are so many different loan options out there and it’s important to do your research but from my experience short term loans can really help in times of need.

Sarah x

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