Managing your money effectively often comes down to how you spend and what influences your spending habits. David Braithwaite, Money Mentor for BBC Radio Kent, recently shared practical tips on how to manage emotional spending and create a more effective monthly budget.
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One key recommendation from David is to use a budget planner to help you track your spending. With a good planner, you’ll know exactly where your money goes each month, making it easier to find areas where you can save. A budget also allows you to stay aware of the best interest rates for saving and avoid high-interest debt.
David also warns about emotional spending. It’s easy to go into a shop for something simple like bread and walk out with unnecessary purchases. His advice? Stick to a shopping list. This simple trick can prevent those unplanned buys—like the humorous example of coming home with a chainsaw instead of just groceries.
For those facing debt issues, David recommends turning to trusted resources like StepChange and National Debtline for free advice. These organizations can guide you on how to deal with debt and get back on track.
Don’t forget to check what benefits you’re entitled to as well by visiting the government’s benefits checker at gov.uk. Every penny counts!
You can here more from BBC Radio Kent on the BBC Sounds
