In this chapter you've learned 📎
- Budgeting is the process of creating a plan to spend your money.
- An effective way to set up your budget is to look at your money in 3 'buckets': essentials, treats and your future.
- A safety plan is the money you put aside in your saving account for emergencies and the insurance cover you put in place.
- What the 15 most important money wasters are.
- That you could be leaving money on the table with unclaimed benefits.
Your to-do list 📝
✔︎ Set up a budget either using a budgeting tool, the SmartPurse calculator or even on a sheet of paper.
✔︎ Scan your budget for unwanted money wasters.
✔︎ Hold yourself accountable for regular reviews, e.g. set-up a calendar reminder.
✔︎ Check your insurances and how you are covered in case of an emergency.
✔︎ Put aside or start building your emergency fund.
✔︎ Check if you are claiming all benefits your could be entitled to.
What comes next?
🚀💡Congratulations! You're on the brink of completing this chapter. Take a quick quiz, and get ready for a deep dive into your credit score and managing debt.
Ready to test your knowledge?
Finish this lesson and get rewards🏆
Take the quizGreat job on passing the quiz! You're welcome to take it again, but the coins you earned are a one-time reward😉
Take the quiz to wrap up the lesson