Understanding money and finance
There is so much advice and information on how to increase your income, how to invest it, and how to spend it! The simplest rule is to live within your means. That is, spend no more than you earn. And if you have any left over after bills and other essentials, save some of that for a long-term goal, like a holiday, the kids’ university fees or a deposit for a house.
Most of us use credit cards or loans to help us get things we want. But be careful to read any conditions or interest fees. You may end up paying twice as much as the cost of your purchase, once interest is added on. If you do have a credit card, try to use it only when really necessary and pay it off in full every time you get a bill.
Talk to your bank about putting some money into a savings account – often if you leave the money alone each month you can earn extra interest.