Simplifying your finances
AMP has shared this video with us that will talk you through some simple ways to get your finances under control.
Video Transcription
Most people want their finances to be simple. Over time, as life gets more complex, their finances get more complex, which makes it harder than necessary to keep track of their money. This means that many people find it difficult to control their finances. Wouldn’t it be great if there was a way to sort out your finances without having to create and maintain complex spreadsheets, shuffle money between accounts and question every purchase?
When we ask people how they manage their money, many told us they think of their money as being in three different categories:
- Expenses – bills that I have to pay
- Savings – for things I want in the future
- Safe to spend – money I can have fun with
Here’s how they do it. Every time they receive their pay, they pay their bills first. They set aside money for things they want in the future, which leaves them with the money they can spend knowing that their bills are covered and they’re saving. It gives them confidence that they are managing their money effectively so they can live the life they want today and own their own tomorrow.
Download the Getting Your Finances Under Control Worksheet and explore the Make Your Cash Flow topic on the Money Master Class website at: amp.com.au/moneymasterclass
Watch more helpful financial planning videos or check out our news section for advice and information on everything from insurances to investments, mortgage broking and more!
