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Income - Bills & Savings = Day-To-Day money
This sum gives us an understanding of what is available. We can see how much money is left for us to spend on our Day-To-Day living.
Your Day-To-Day money is where you have the greatest freedom. Here you pay
for food, entertainment, transport etc. This is the money you have in your wallet or
purse and in the Day-To-Day bank accounts for you and your partner.
Your Day-To-Day money is spread widely and it can be difficult trying to keep track
of it. In fact, many people simply give up on their budgets at this point. (Hang in there
and we'll show you how to do it easily!)
Let's do an exercise.
On a piece of paper write down the amount of cash you THINK you have in your wallet or purse.
Now check and see! Were you fairly close?
On the piece of paper now write down how much money you THINK is in the bank account you use most frequently.
Now check and see! Were you fairly close?
Were you fairly close with your answers? You've just proved that you already know
a lot about your Day-To-Day spending. Now you need a system to help keep track of
the money in your purse, wallet or bank account etc.
Here's where your financial personality really kicks in. Some people need all the
information while others are happy to build up an overall picture.
Your Day-To-Day money is where you have the greatest freedom. Here you pay
for food, entertainment, transport etc. This is the money you have in your wallet or
purse and in the Day-To-Day bank accounts for you and your partner.
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