Personal Finance | Can ‘stuffing your cash’ help your budget? | City Press

  • 📰 City_Press
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 72%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Personal Finance | Can ‘stuffing your cash’ help your budget? | If you do splurge a little at the start of the month, be realistic and build that into your allocation. Remember that you will need to cut down for the remainder of the month

According to Tyrone Lowther, the head of Budget Insurance, there are some issues associated with working with cash.Many years ago, when I was trying to pay off my debts and get my finances under control, I used the “envelope method”.

Yes, I still needed the discipline not to take money out of the petrol envelope for entertainment, but having it calculated and separated made it far easier to stick to the plan. I continued this for a few months until I felt I was on top of my money and had a better understanding of my monthly cash flow needs.

1. Combine this with other budgeting techniques: Since it’s not advisable to keep large sums of cash with you, consider using this technique only for certain expenses, while applying other pro-budgeting tips to manage the others and save some money. This will also help you avoid throwing non-essentials into your trolley, especially in the impulse aisle as you wait to pay.

So, if you do splurge a little at the start of the month, be realistic and build that into your allocation. Remember that you will need to cut down for the remainder of the month. 7. Don’t draw it all at once: If you’re considering cash stuffing and decide you want to use R10 000, for example, rather withdraw it over a few days so that you are not carrying around such a large amount of money.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NIPDB & Bank Windhoek Host MSME Finance SymposiumWith the goal of simplifying the often complex process of obtaining financing for Micro, Small, and Medium Enterprises (MSME), the Namibia Investment Promotion and Development Board (NIPDB) in partnership with Bank Windhoek will host the pilot MSME Finance Symposium. Date : Friday, 21 April 2023. Time : 10h00 - 13h00, Venue : NIPDB Office, Investment House, Cnr Garten street and Dr. A. B. May Street.
Source: allafrica - 🏆 1. / 99 Read more »

Limpopo finance manager sentenced to 5 years behind bars for theft of more than R1.6m | News24A Limpopo finance administration manager was sentenced to five years' imprisonment for theft in the Polokwane Specialised Commercial Crimes Court on Thursday. | iavanpijoos
Source: News24 - 🏆 4. / 80 Read more »