How budget planning can help you

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The benefits of budgeting

Research from 2019 suggests that 25 million people in the UK live pay check to pay check, meaning the money they make each month is just about enough for them to get by until the next payday. As a result, any unexpected costs which may arise can financially cripple a huge number of people. This is where the importance of budgeting becomes clear.

Why should you budget plan?

Budgeting may seem like a boring and tedious task. However, by understanding your financial situation you can take control of your money and decide where to use it. You can ensure you have enough money for the things you need and have some available for those luxury items and experiences.

Budgeting will also help you to save money for future use, whether that be a holiday, wedding, new car or covering any financially stressful events which may occur in the future. Being in control of your money today allows you to fund these things tomorrow.

  • The information provided in this article is for guidance and educational purposes only. Police Credit Union Ltd. does not offer regulated financial advice. Please seek independent financial advice.

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