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Ideas for structured finance / credit repayment plan?


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Written on: 02.11.2009 [17:17]
Alisha
Alisha
Topic creator
Posts: 3
I'd like to help out my son who seems to have got himself into a bit of a muddle with his finances and his loan payments. Do any readers have good ideas for structured finance & credit budgets or plans?
Written on: 05.11.2009 [09:38]
Owen
Owen
Posts: 4
I know it's age old advice, but one of the best ways to budget is with a pencil and paper! Or a biro and paper to modernise If he writes down his income and outgoings at the beginning of each week, not month, in a notebook, then keeps a tally of what he's spending or receiving as the days go by and balances the numbers before a new week starts, he'll soon have a great overview of his budget, his spending patterns and his financial weaknesses. He doesn't even have to do this forever! As long as he does it until he can start making wiser money choices on a day to day basis, it'll have an impact on his financial security in the long run
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  • Written on: 11.11.2009 [15:48]
    Aimee
    Aimee
    Posts: 5
    When it comes to budgeting then just a simple list is all you need. I loved the budgeting tool they have on here. I just filled it in and it calculated my monthly spend and limits for me. http://www.monetos.co.uk/no-cache/service/student-money/budget-calculator/
    Written on: 11.11.2009 [16:24]
    Kompany
    Kompany
    Posts: 1
    If he is having more problem with actually paying the debts then Direct debits are the best solution I would say as they take them money directly from your account and you can arrange all bills to come out around pay time so that you know how much money you are left with.