The first thing you need to know is exactly what income you have each month after deductions for tax, National Insurance and pensions.  Then you need to list the fixed costs such as rent, mortgage, council tax, energy and water bills.But what catches most people out are those occasional costs such as birthdays or insurance renewals.  Even though we all have to work with a 12 month 52 week year Christmas often catches us out with too little money in our accounts to pay for it, and then it is a drag on the next year's spending.  It is more expensive not to plan as you may incur lots of interest that you cannot clear at the end of the month. We all have expensive months.  December is the Big Daddy but then we may have several family birthdays and a holiday in July.  If you have few extra costs in the early months of the year don't congratulate yourself when there is money left at the end of February, March, May and June but save it for July and from then on save any money remaining for the final months of the year.   The secret is to know what you spend and to avoid expensive interest on monthly insurance payments or credit cards. If you've got a money saving idea you'd like Mrs Mean to get her teeth into, please send a message Please send ideas questions, tips and warnings about rip-offs to Mrs Mean through the contact page on her website: mrsmeanmoneyshow.co.uk or to [email protected] Hosted on Acast. See acast.com/privacy for more information.

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