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We all want to be responsible with our finances. This helps us to stay out of the red and in the black, reducing worries about debt, late payment fees, fines and more. But being responsible with money actually expands out into so much more than sticking to a budget and avoiding overspending. There are countless other areas that you should be focusing on to really get the most out of your finances and to make your life as comfortable as possible. Here are a few tips and tricks that could really help you out when it comes to managing your funds as best possible!

Buy Instead of Renting

Renting can be great in many circumstances. If you’re unsettled, don’t know where you want to live long term, or have some sort of career that involves moving on a regular basis, then sure, renting is fine and practical. But if you have decided where you want to live for the foreseeable future and are ready to settle down, renting is pretty illogical. After all, why pay someone else’s mortgage through your monthly rent instalments when this money could be paying for a home of your own that you get to keep once the mortgage is cleared? Of course, saving a mortgage deposit can take time, especially if you’re already caught up paying rent to a landlord. But in many cases, it is possible. Just attribute a percentage of your disposable income into a savings account (preferably a high interest savings account like a LISA) and you’ll eventually reach your target!

Plan Your Retirement

We are all going to have to retire when we reach a certain age. You can’t go on working forever! So, plan your retirement sooner rather than later. Retirement funds won’t save themselves. You’re going to have to come up with a plan that will see you with plenty of retirement savings yourself. There are a number of options out there. You may have a retirement fund that your employer contributes to, you may have one of many types of annuities, or you may have a different option available to you. Whatever you opt for, the most important part is that you do plan something and put it in place sooner rather than later!

Avoid Interest Where Possible


We all borrow money at some point or another. Whether that’s for a major purchase like a mortgage on a house or some sort of financial funding for a car, or whether you just need some cash to get you by until your next payday. Whenever you borrow money in any form, however, you should avoid interest or opt for the lowest interest rate possible. Interest free options allow you to borrow the money and pay it back without having to pay anything extra. Low interest options minimise the extra money you have to pay back to the lender.

These are just three key tips that can make all the difference when it comes to managing your money well. Hopefully, each will prove pretty useful to you!