Budgeting need not result in stress and debt. Looking at your finances will help you to see exactly where your money is going and put you on the path to managing your money more effectively.

Most of us find budgeting boring, but it is absolutely essential. To put it simply, a budget is a plan of the money you expect to receive and how you expect to spend it.

A proper budget should show you three things:

  1.       How much money you have coming in
  2.       How much money you are spending
  3.       How much money you can afford to repay to those you owe

With these three points in mind, you can now focus on a plan for how to manage your future spending.

Skibbereen Credit Union has put together some tips for Managing Your Money in 2015.


Keep track of your spending. Use our Budget App to record all your spending and income. It will show you where your money is going and help you keep up-to-date with your spending habits.


After using our Budget App to record your income and expenditure for a short time, a personalised budget will be created for you. You can adjust this budget each month if needed, but remember to be realistic and include everything.


Get into the habit of saving. Try to save some of your income for any unexpected spending.

Be Prudent

Shop around to get the best deals. Use cost comparison websites like chill.ie to get the best deal on your insurance.


Everyone runs a little short sometimes. If you do have to take out a loan, you should only borrow what you can afford to repay. Best advice is to stay away from credit cards and definitely avoid moneylenders. There are many benefits to a loan from Skibbereen Credit Union. Speak to a member of our staff if you have any questions and we’ll help you make the best decision.

Be Sociable, Share!

Leave a Reply

Posted on: March 31st, 2016

Posted in Financial services, Repayment Options, Skibbereen Credit Union

Copyright © Progress Systems Limited