‘You must include this item’ – Budgeting and saving suggestions to remember right now.
Many people across the country are looking for the best ways to budget and save money now that the year 2022 has arrived.
Household budgets have tightened as a result of the pandemic, as businesses have struggled to make ends meet for the past 22 months.
With the end of the government’s furlough scheme and the removal of the £20 Universal Credit uplift, Citizens Advice has warned that low-income earners are receiving less assistance than they were previously entitled to.
Furthermore, energy and living costs have risen at an exponential rate in recent months, and are expected to rise even more in April.
As a result, for thousands of families this year, the importance of learning how to budget and save money has never been more important.
Experts are now sharing their tips on how to budget effectively and beat the rising bills of 2022.
Peter Kimpton, the CEO and personal finance expert at Family Money, spoke exclusively to This website about the importance of a budget for people who want to succeed this year.
“With energy bills and living costs expected to rise in 2022, it’s more important than ever to ensure your budgeting habits are efficient,” Mr Kimpton said.
“Start by examining your current budgeting habits and determining how well they are working.
“Make sure you plan a realistic monthly budget and adjust any of your spending goals to fit your lifestyle.”
“See if you can save a little more here and there – simple things like skipping your morning coffee and bringing in a flask from home can all add up to those all-important extra savings!”
When it comes to budgeting, the financial expert points out that it’s no longer enough to consider essential utilities.
According to him, additional costs from eating and going out, as well as shopping for non-essential items, should be factored into the equation in 2022.
“Many people plan their weekly food shop and groceries in their budget,” Mr Kimpton continued, “but it’s also important to consider how often you eat out.”
“Set aside a budget for these costs, whether it’s takeout, daily coffees, or buying lunch at work.”
“If you eat out once a week, it’s fine.
“News from the Brinkwire.”