Happiful April 2021

wellbeing
instance, facing reality is key. I
know this is difficult – the phrase
“I just don’t know where my
money is going,” was no stranger
to my younger self – so take a
deep breath, and be brave.
“Firstly, figure out how much
you make on a monthly basis,”
says Ayesha Giselle. “This
should cover all sources
of income, regardless of
the size. Next, make a
list of your expenses. Be
precise, and list down
everything, no matter
how small. Take your time
with this, using your last three
months to work out your averages.
Sorting expenses into categories
can help, so you can see exactly
where your money is going.
“No matter how frustrating
and long-winded this is, it’s
one of the most crucial steps in
understanding your financial
situation, and can make or break
your budgeting plan.”
Once you have a clear idea
of your spending, be honest
with yourself and remove any
expenses that you don’t really
need, and note where you could
reduce spending.
The final step is determining
what your financial future
looks like. “How would it look
if you don’t create a budget and
continue spending – how will
this affect your family, your life,
what would happen if you had a
financial emergency?” >>>
Embracing financial
discipline will help
bring back control
happiful.com | April 2021 | 77