If you want to utilise your money wisely, then budgeting is essential. Whether the context of your spending is domestic or business related, a budget is needed in order to adequately control your finances. Rich or poor, planning out your fiscal duties will ensure that your expenses always fall well within your means. After all, safety and security are the name of the game when it comes to finances.

There are more lessons to be learnt by living a thrifty lifestyle than by splashing out on the daily. By mapping your expenditure, you can boost your credit score, dodge debt and foresee less obvious costs. With restrictions comes responsibility, and with struggle comes wisdom. Consequently, here are some top tips to help you manage your budget.


Staying Calm

It might seem like a copout answer, but it’s a good place to begin. After all, financial woes and panic go hand in hand, so before you do anything, it’s best to cool off as best you can and combe through your options. If you act in haste and hysteria, you can do more damage to your bank account than you end up fixing.

If you live with a significant other, consider budgeting together as a team to share the load. Clear and cool heads will always problem solve better than the frantic mind, and solutions will begin to materialise in no time. Ultimately, it’s important to remember that budgeting does not have to be a solitary act.


The act of budgeting can reveal no shortage of ugly truths. Whether you’re spending too much or too little in certain areas of your life, the budget will pinpoint exactly where you’re going wrong. Of course, the budget won’t just appear out of thin air. It’s down to you to make it, and it’s incredibly important that you’re honest with your own data from the outset.

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Map out a spreadsheet of all your spending; bills, travel, groceries and any non-essentials. Combe through your receipts and personal statements and pinpoint any excessive spending. From there, it’s your responsibility to whittle down your costs and decide where your money can be better spent. It’ll take time, but all good strategies do.

Managed Current Account

Money problems can quickly spiral out of control. One problem bleeds into the next, as missed bills mount up and cause credit ratings to dip ever downward. Subsequently, borrowing any money in the future is nigh on impossible. In the end, it all leaves people distressed and feeling as if they are without any kind of control. Help is required, and it’s needed fast.

However, Think Money usefully offer a managed current account, helping you keep control of your cash. This kind of arrangement is there for you whether your bankrupt or racking up a bad credit history, and gives you that chance to get back on your feet financially. Expert help from money managers is also provided, making certain that anyone’s hard time isn’t the end of the line, but a learning curve alone!