Budgeting hacks

Let money expert VANESSA STOYKOV guide you through your monthly cashflow

1 PAY YOURSELF FIRST

If you don’t wrangle your monthly budget to allow for saving, you are putting yourself last. Have a rule that 10% of your monthly earnings is automatically deducted from your account on pay day and put into a high interest savings account.

2 CHECK YOUR CALENDAR

Figure out the events you can’t miss and make sure you set aside enough to pay for it – and don’t get sucked into buying other things.

3 PLAN FOR YOUR QUARTERLY BILLS

If you are setting aside the amount divided by three each month, you have the money ready when it’s time to pay. And pay by direct debit so you can get the on-time discount!

4 TRY AT LEAST ONE SIDE HUSTLE

Try to find another way to make money outside your main source of income. It could be selling something you don’t use on Gumtree, becoming a courier with Zoom2u, or do some babysitting on the side. There are thousands of side businesses to suit everyone.

5 EAT IN MORE

Cook meals on the weekend and freeze them during the week – it makes it easier to eat at home when you are time-poor. Plan ahead to save yourself money – and set aside an amount you would like to spend on eating out every month.

Vanessa Stoykov is a money expert and author of The Breakfast Club for 40-Somethings. Visit vanessastoykov.com for more tips and money advice.