Managing personal finances is very important, especially for those of you who have a modest income – and obviously, the aim is to keep monthly expenditure within your monthly income. But from time to time, you may need to borrow more for additional expenses.
Some ways to prevent this; Start saving now. Start with moving a portion of your salary into a savings account with your bank, debiting the amount each month. If you need to buy goods, hunt around around for low or no interest deals. Perhaps you could take out an insurance policy to cover your expenses if you lose your job or need extended time off – illness, for example.
Many think that owning a Credit card makes you wasteful – but of course we need them to achieve a credit score. Again, you can set up a direct debit to pay the minimum off your balance each month, and overpay if possible. Do not use your credit card to withdraw cash amounts, as the interest rate is very high.