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Something that we all think about on a daily basis is money. What bills have we got to pay in what certain times? Calculating future and upcoming trips, the weekly or monthly shop. It is something that is always on our minds, but it shouldn’t be stressful. This small article is here to hopefully help squash some of those worries!


Saving the Right Way

One of the biggest financial terms people speak of is savings. How much money do you have saved, what savings account they use, and trying to save, save, save. But how do you save, the right way? Firstly, you want the best return on your savings, this is called Interest. When you take out a loan from the bank, you pay them an interest rate. This can be 0.5% (Bank of England Rate), or something like 3%. However, if you are putting money into the bank through a savings account, they pay you interest, based on the amount of money in your account. For example, if you have £100 in your savings account, and the rate is 1%, the bank will put £1 into your account each month, or each quarter every bank has a slightly different payment frequency. Lastly, always check the rates if you have a foreign currency account as exchange rates and currency strength can also play a part in the interest rates. So, when you are out on the High Street looking for a good savings account, always look at the interest rate! 

What Options are there for Insuring my Vehicle

Another common expense is insurance. House, phone and car insurance, are all very important, but car insurance is the most common. There are many car insurance companies out there, but you need to make sure you pick the right one for you. Do you want to pay monthly? Or maybe you want to pay annually? Maybe you have a previous driving conviction? This is something that can often turn people away from car insurance but there are options out there for everyone. There is a Convicted Driver Insurance for people who may have a previous driving conviction. Also, many insurance providers will offer you either monthly or annual payment plans, so make sure you ask this when you are going forward with insurance for your car!


Budgets, Budgets, Budgets!

Last but by no means least, is budgets. Setting a good budget is crucial to keeping your finances in check. A really good tip is to have a number that you want to stick too, for example, £30 a day (If you are an individual and based on the commute, etc). Then calculate what this would add up too in a month and so on. Then, keep a note of all your transactions, and make sure you do not go over the threshold. You could also dedicate a portion of your budget to put away into your savings account, so whilst you are spending money on your day to day, you are also topping up your savings which over time will creep up to a healthy amount. 


Finances really should not be a stressful affair, but sometimes they become one and it’s not good. There are many materials on the internet and other places that can go into further detail about everything mentioned in this article, so be sure to do some further research and hopefully, this has helped you become a little less stressed about your finances.