Budgeting 'helps Brits understand their finances'
www.moneynews.co.uk > Banking > Budgeting 'helps Brits understand their finances'
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Budgeting 'helps Brits understand their finances'
Fri 18th Nov 2011
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Paul Rumbold, an independent financial adviser at Wayne Austin IFA, said it is important for people to be aware of their financial limitations, especially in the present economic environment, and therefore planning ahead and managing money effectively should be a priority.
"I don't think it's a bad discipline for everybody just to sit down, whether rich or poor, struggling or not, and just write down absolutely everything you spend," he commented.
Mr Rumbold noted many people might be surprised as to just how much money they waste each month.
Research carried out by Alliance Trust Research Centre has shown older Brits continue to face the highest rates of inflation in the UK, with its latest data showing this group faced rates of 5.8 per cent in October - slightly down from 6.1 per cent in the preceding month.
Click here for more banking news
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