How to be better at (almost) everything

Sort out your mind, body, soul and home in the new year Discuss this article

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Your money
Find it hard to save? Follow this financial advice from Prestige Wealth Solution's Jamie Scott

Whether you are single, married or have a family, you should know how much money you have coming in each month. All of us, without exception, need to firstly stay within budget. Try this approach and see what 2016 brings you.

Focus on savings
Decide how much of your income is available to save each month. Have it direct-deposited to your savings account or a separate account if one needs to be opened. Wherever you decide to keep your savings, make sure you put money into it every month. That diverted money will make a big difference for you later.

Cut down on costs
You know how expensive unnecessary habits can be. Cut these down and you’ll see your costs decrease in no time. You also might save on health care expenses down the road, and you may become eligible for lower insurance premiums.

Use cash first
Take out enough cash to last one week at a time. It's much easier to turn down a pair of shoes when it will take the last of your week's cash than it is when you just have to swipe a credit card.

Share responsibility
Make sure you're not the only member of your household concerned about your budget. If you're working hard to save money but your spouse is out spending you into debt, you're fighting a losing battle. Sit down together and make a plan to determine how much spending money you should each have every month.

Keep your receipts
You probably monitored your expenses for several weeks to make a budget. Once the budget is made it can be tempting to forget about checking up on every little expense. But keeping track really can help you stick to your budget. You'll be less likely to overspend if you realise how much money has actually gone through your hands.

Analyse your spending
Look through your budget and receipts. Can you find an expense that can be cut? Perhaps you could take your lunch to work twice a week, or set up a carpool with a friend. Cutting out on restaurants and reducing car costs can help increase the amount of money you have available for savings and purchases.

Reward yourself
If you can set a regime and stick to it, you will see rapid improvement in your financial situation. Setting personal financial goals, even reducing debt, deserves personal reward. So, make sure you treat yourself to small monthly rewards. You choose what to look forward to, just ensure you don’t go back to square one.

By Time Out Doha staff
Time Out Doha,

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