The key to success in managing your money is Balance. There needs to be a BALANCE between the money that flows in and the money that flows out. There is an old saying: ‘Cut your coat according to your cloth’.   This means make sure you have enough money to complete the coat or task, or the time until your next inflow.

When people don’t do this, they have to resort to borrowing, but that only puts them further out of balance

How to keep in Balance

The classic way of staying in balance is to have a Budget which lists what you can spend, and on what, and then keeping your spending within those figures.

The most difficult part of this is finding out what happens to your money now. It is very easy to lose track of your spending.

There are various Apps available to enable you to create and manage your Budget, but first you need to know what happens to your money now. That is why we created a Money Tracker, which enables you to find out.

However, you may find it hard to do it on your own.  Can you find a friend who would like to track their Money Flows too?  You would both learn a lot and probably have some fun.