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Budgeting is in Fashion

The "lots of little luxuries" spending habits of the 20,30 somethings are starting to catch up on them according to a supplement in this weekend's Sun Herald. One quote is "I see lots of people on good incomes who have a sense of having lost control of their expenditure". Due to salary packaging, they don't even know the difference between gross and net income.

Another pressure analysed is the lifesyle progams impact...you've just got to have an outdoor kitchen like the ourdoor chef on TV...and the incresaing spend on digital this & that, mobile calls, cable, and flowers for the house.. because you feel like it.

Tips from the article are:

* Know what you earn (Check out FinDem's calculators)

* Prioritise (are treats really going to make a difference tonight?)

* Use more (buy scale) , Use less (avoid waste)

* Abandon Brand loyalty (water is water)

* Be lawful (avoid parking/speeding/video/library fines)

Posted Monday, 2 December 2002

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