Planning And Budgeting
At the heart of all good savings plans is planning and budgeting. This is pretty simple process that does not necessarily require making sacrifices.
Budgeting is simply identifying your income and expenses, with the aim of being able to increase the income and reduce the expenses.
Planning is looking at how you can achieve your budget.
The first step in budgeting is to write down all the income you receive. Next, write down a checklist of your expenses.
This can take some time but it’s important that you include everything so that you can see your real financial position. If you use credit cards for some of your purchases, take a look at the last couple of statements to refresh your memory on what you’ve been spending on.
Once you do this, you will be able to see how much money you have left to save. You might want to play around with the numbers and reduce some of your expenses, so your savings will grow quicker.
If you haven’t saved much in the past, you may want to start with a small goal, and once you’ve achieved that you’ll be well on your way to achieving a bigger goal.
Disclaimer
Important (Notices)
The information provided on this website is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Similarly any views or opinions expressed on this website are not intended and should not be construed as being investment, tax or legal advice or recommendations. Investment advice should always be based on the particular circumstances of the person to whom it is directed, which circumstances have not been taken into consideration by the persons expressing the views or opinions appearing on this website. Calamatta Cuschieri & Co. Ltd. (CC) has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website. You should always take professional investment advice in connection with, or independently research and verify, any information that you find or views or opinions which you read on our website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. CC does not accept liability for losses suffered by persons as a result of information, views or opinions appearing on this website.
This website is owned and operated by Calamatta Cuschieri & Co. Ltd (Co. Reg. No. C13729) of 5th Floor, Valletta Buildings, South Street, Valletta VLT 1103, Malta. CC is licensed to conduct Investment Services in Malta by the Malta Financial Services Authority.