7 Reasons

Tag: Budget

  • Guest Post: 7 Reasons You Need A Personal Budget

    Guest Post: 7 Reasons You Need A Personal Budget

    So, what is a budget anyway and why do I need one? A budget isn’t just a piece of paper carried in that big red sandwich box that worried looking bloke waves about every March outside 11 Downing Street. The Budget is the Government’s best estimate of what they will receive in income for the year ahead – taxation, revenue, sale of signed photos etc – and what they intend spending it on – NHS, wars, salaries, new dart board for Dave’s office etc. In the same way, a personal budget will have a forecast of your year’s income and how you intend to spend or save it; this can very easily be done with accounting software now readily available on-line. Like the Government, you can include borrowings in your budget, but unlike them you can’t decide to “print” money to ease your financial troubles – well not legally anyway! Here are 7 reasons for making a personal budget.

    7 Reasons You Need A Personal Budget

    1.  Paying The Rent. Unless you still live with Mum and Dad, housing costs – whether rented or purchased with a mortgage – will probably be your largest regular expense. Unless, that is, you are addicted to chocolate in which case see below. It is a good idea to start with listing your main living expenses including fuel and Council Tax, Sky TV and other essentials so that you can then assess what you have left at your disposal for your other needs or aspirations.

    2.  Chocolate. If you do have a passion for chocolate or indeed any other luxury for that matter, having a budget will show you the areas of expenditure that you can economise on so that you can indulge your passions ad nausea. This advice is given only on the understanding that you are responsible for your own health and that the author cannot be held liable for any complications arising from excessive consumption.

    3.  Holidays. Home or Hawaii? A few people enjoy holidays at home, but if your ambition is to spend six months in California then your budget can help you reserve the cash to achieve it. If you know in advance how much you can spend on tickets and trips you can often pick up a bargain by advanced booking; or you could be in a position to make a spontaneous purchase when you spot a good deal and be confident that you will have the funds to cover it already in your holiday savings pot.

    4.  Food. In the intervals between clubbing and sleeping, most people eat food. This may be dispensed with but that is not a recommended plan for enjoying a longer life. If you are already aware of what you spend on food regularly it is easy to budget. If you are not aware, then you can take a stab at it and adjust the budget after a while to reflect how much you wish to spend and then shop accordingly.

    5.  Work. Unless you are lucky enough to be able to work from home, then you need to budget for travel to and from work, whether for bus or train fares or the cost of running your own car or bike. You may need to reserve funds for buying tools or clothes. Unless you are expert at charity-shop scavenging you could need to spend a bit on looking smart in the office. Especially true for the office-party when you need to impress someone you want to share your pencil with; or even your boss for that matter.

    6.  Christmas Is Coming! For many people Christmas is the time for giving and having a good time; and the rest of the year the time for remorse – especially after the afore mentioned office-party – and for scratching around trying to pay for it! You can set yourself a budget for presents and entertaining and, as long as you stick to that, the only headache you will have in the New Year will be a hangover and not a financial one. No longer will you have to wrap up a box of tissues for Granny’s gift, trying to convince yourself in doing so that it is the thought that counts and that she will forgive you for your spendthrift ways once again.

    7.  Play. You will need to know in advance whether you can afford that season ticket for your favourite team or will instead have to resort to standing on the touchline at the Rec. to get your sports fix. Perhaps you might want to start a new hobby or activity and to plan ahead for equipment purchases or memberships. Your budget will help you make those decisions wisely

    You don’t have to keep your budget in a big red sandwich box, but it will be useful to have it to hand to see how well you are managing your finances and how much you will have left at the end of the year for shoes or chocolate. Accounting software will provide you with an easily accessible reference and a method of budgeting to enable you, and not your bank, to have control of your finances!

  • Guest Post: 7 Reasons You Run Out Of Money Every Month

    Guest Post: 7 Reasons You Run Out Of Money Every Month

    It’s getting harder to save money for your future with the euro being inflated every year. However, there are some things that are completely within your control. Before you complain about how expensive everything seems to be getting these days, check your ego at the door and make sure you’re not committing these seven deadly spending sins.

    7 Reasons You Run Out Of Money Every Month

    1.  You’re Shopping Way Too Much. Shopping is fun. Heck, what girl doesn’t like a new dress or pair of shoes? Shopping sprees aren’t just a female problem either. Men can get carried away on designer stuff too. If you have a shopping addiction, try putting away the credit card for a few days. If you still think you need a new pair of pants or a shirt, then consider visiting a charity shop – especially if you’re hooked on ModCloth.com offerings. You might be able to find some nice vintage stuff for much less than what you’ll pay retail.

    2.  You Drink So Much Coffee, Your Blood Is Now At Least 50 Percent Caffeine. Coffee can be addictive, and Starbucks is a pretty popular place, but there’s no need to go there three times a day. Even once a day gets expensive. If you need your coffee fix in the morning consider getting a pour over kit. The initial cost of manual pour over equipment pales in comparison to what it will save you over time. If you spend £2.60 every day on coffee, you will benefit from getting manual pour over equipment. In one month you’ll spend enough on Starbucks to buy yourself a decent filtercone holder, some nice filters, and some decent coffee. Two month’s worth of coffee will get you an excellent coffee grinder.

    The benefit? The learning curve is not very steep, it takes just as long to stand in line as it does to make your own coffee at home, and a manual pour over results in a stronger and better cup of coffee than what most retail places will sell you.

    3.  Those Late Night ATM Runs – You Know The Ones. Are you a night owl? Do you spend a lot of time at clubs, pubs, and after-hours parties? Going to the ATM to reload your wallet with cash takes its toll. There’s no easy solution to this problem other than taking it easy on the partying. Staying home and reading a book might not sound like much fun, but your bank account will thank you.

    4.  You Are Paying For More Channels Than You Can Possibly Watch. There’s nothing wrong with having cable T.V. In fact, it might add to your life in some way. However, there comes a point when enough is enough. If you’re paying for so many channels that you can never possibly watch all of them, it may be time to rethink your service plan. If you ever find yourself turning on your T.V. and thinking “oh wow, I didn’t even know I had this channel,” then it might be time to consider going with a cheaper package or perhaps cutting your cable down to the bare minimum.

    5.  You Eat Out So Often, You Haven’t Seen The Inside Of Your Fridge In Three Weeks. Eating out once in a while is fun. You don’t have to do the dishes, and you can usually get something that you find difficult or impossible to prepare yourself at home. However, if you’ve forgotten what the inside of your refrigerator looks like, or if the food in there has started to look more like a science experiment than leftovers because of all of the mold, then consider making more meals at home. Staying in has a wonderful positive effect on your bank account.

    6.  You Spend More Time On Your Hobbies Than You Do Working At Your Paying Job. Having hobbies allows you to stay active when you’re not working. However, when you spend more time on your hobbies than you do working at your “day job,” there’s something wrong. Maybe you should make your hobby your new job (by starting a business oriented around it) or find a new job that allows you to earn money from doing whatever it is you really love doing.

    7.  The Only Time You Step Foot On A Sidewalk Is To Get To Your Car. Automobiles allow us to get where we want to go faster than we ever could by walking. However, there’s a benefit to walking: it’s cheaper and allows us to get exercise. Consider walking or biking to work, if you live close enough.

    Guest post written by Elizabeth Goldman and brought to you by Wonga – the short term loan experts.

  • Guest Post: 7 Reasons Why Planning Your Wedding Needn’t Be Stressful

    Guest Post: 7 Reasons Why Planning Your Wedding Needn’t Be Stressful

    7 Reasons Why Planning Your Wedding Needn't Be Stressful

    You’ve got engaged and feel on top of the world. The birds are singing in the trees, you have a spring in your step and your day is going swimmingly. But then it hits you; the thought of planning your wedding and knowing that you have every minute detail to consider before the big day arrives. Some feel prepared for this challenge; others feel drained.

    So how do you overcome the stress of planning your wedding? Is there anything you can do to reduce the time-consuming nature of the whole affair? Actually there is. Here are seven reasons why planning your wedding needn’t be stressful:

    1.  Planning Ahead Is Key. It’s just like when you were at school and your mum used to tell you to do your homework as soon as you got home, rather than leaving it to the last minute and rushing it. Funny how the same principle can be applied throughout your life as you grow up, with your wedding being the big one. As soon as you get engaged, talk to your partner about the best way to go about things and schedule it by month of what you plan to do. Don’t feel like everything needs to be done straight away, just take the next few months after your engagement as the planning stage and it will set you in good stead for later on.

    2.  Mum Knows Best. It’s a bit clichéd, but if you’re the bride and you’re panicking about where to start with planning your wedding, have a chat with your mum or soon-to-be mother-in-law and get their thoughts on the best way of doing things. They’ve been there and got the t-shirt, hence they’ll be able to point you in the right direction with those all-important do’s and don’ts. They’ll also be able to ease your mind with any worries you might have.

    3.  Prioritise The Key Things. Make a comprehensive list of all the things that need doing before your wedding and number these in priority order, 1 being “must do ASAP” and so on. You’ll find this helps to give you some structure for the months leading up to the event. For example, you might not need wedding invitations arranging straight away, so you can factor this in much later on your priority list.

    4.  Make it Fun. Of course there are some elements of planning your wedding that may seem boring, but interlace these more laborious jobs with the fun ones, like choosing the wedding dress, for example…a great opportunity to meet up with your friends and family and have a girly dressing up day.

    5.  Make Room For Error. The biggest cause of a stressful wedding is thinking that everything has to be “perfect”. Accept the fact there will be times when things don’t always go to plan, but its okay, honestly! If you obsess or dwell on every detail you’ll find it difficult to even enjoy your big day.

    6.  Budget Accordingly. Most wedding stresses are caused when people don’t budget properly right from the start. Know your limits, and don’t be too extravagant with your spend. If you’ve been offered some help from parents to pay for the wedding, don’t see this as an opportunity to over-spend. Keep everything in budget and be realistic with your expectations, from your choice of wedding venue right through to your choice of wedding invitations.

    7.  It Only Happens Once…Enjoy It. For most, the wedding day is the final “seal of the deal” and it should be special no matter what. The problems start when you’re stressing too much that you forget why you even agreed to get married in the first place. Take a step back from everything and look at it objectively. Love conquers all; enjoy the thrill of the ride and living happily ever after.

  • Guest Post: 7 Reasons You’re Always Broke

    Guest Post: 7 Reasons You’re Always Broke

    For understandable reasons it’s been rather Christmassy on 7 Reasons as of late. And while today’s post isn’t exactly a festive post in itself, it may well be relevant when you reach the till with your basket full of presents. Don’t worry, though, while your loved ones might have to do with a sprig of holly and a set of firelighters this year, next year will be very different. All you have to do is read (and learn) from today’s guest post. And that’s not the most challenging thing you’ve ever been asked to do, is it?

    Guest Post: 7 Reasons You're Always Broke

    These days, it’s easy to blame the government and the bankers for your financial woes, but the chances are you could make things a lot easier by making a few of your own changes. Think Money, which provides debt management and other financial solutions, offers its own ideas about why you might be struggling financially…

    1.  You’re An Impulse Buyer. It’s funny how supermarkets can make you forget half your shopping list and replace it with all those things you Didn’t Know You Needed. The problem with this is that you’ll still have to go back and buy the things you forgot, at which point you’ll end up buying another load of junk that should probably be banned from human consumption. The simple answer: write a shopping list, and stick to it.

    2.  You’re A Plastic Spender. Credit cards are one of those magical modern inventions that can make spending money so much simpler. The reason for that is that it doesn’t really feel like you’re spending money – and it might not actually dawn on you that you can’t afford your rent until your landlord starts hurling abuse through your letterbox.

    We’re not saying you should stop using your credit card altogether, but a bit of advance planning can’t hurt. Before you make that purchase, work out how much money you need for important stuff, like food.

    3.  You Never Budget. Planning out every last penny of your spending might seem a bit regimented, but if there’s one area in which you should give your inner anarchist a rest, it’s here. If you have bills to pay and food to buy, it really is a good idea to make sure you have enough money for those things before you start your next online shopping spree.

    It doesn’t have to be complicated – look at a few recent bank statements, add up all your essential living costs and make sure you put that money to one side at the start of each month.

    4.  You Hide Things From Your Significant Other. We’ve all done it: fearing the ire of our loved ones, we pretend our latest and greatest purchase cost a good 50% less than it actually did. This poses a multitude of potential predicaments, all of which confirm the old saying that ‘honesty is the best policy’.

    Scenario A: your partner, in the belief that your combined bank balance is a lot healthier than it actually is, goes out and spends yet more money, sending your account into the red.

    Scenario B: your partner becomes suspicious and checks the price online. You are sleeping on the sofa tonight.

    5.  Your Significant Other Is Hiding Things From You. Despite the punishment you may have received for your own spending mishaps, there’s every chance that your partner has probably done the very same thing more than once. And without watching the bank balance like a hawk, it’s very easy for these things to slip under the radar. So unless you’re willing to be completely honest with each other – and never buy anything you actually want ever again – it might be an idea to have a joint account for your bills and other living costs, and keep your own accounts for the things you don’t need.

    6.  You Drive Like A Maniac. It’s another thing most of us have been guilty of at one time or another: putting your foot down at the lights to get away quickly, or driving at 80mph on the motorway to get somewhere on time. Not only are these things against the law, they could also be adding a lot to your monthly fuel bill.

    Change gears when your engine hits 2,500 revs; brake gently; accelerate slowly. We won’t keep boring you with the tips you’ve probably heard (and ignored) a thousand times, but taking them on board could cut your costs by more than you think.

    7.  You Can’t Cook (Yet). Back when we all wore loin cloths, your life expectancy would be significantly lowered if you or someone in your family couldn’t cook, to say the least. These days, things are much easier: microwave food and take-aways mean a meal is never more than a few minutes away. Those foods may also hit your life expectancy, but a more pressing issue could be the effect on your bank balance.

    Buying fresh ingredients and making meals from scratch is usually cheaper, not to mention healthier. What’s more, it’s probably not as difficult as you think. Find some simple recipes online, learn to cook and see your finances improve.

  • 7 Reasons We Should Trick Or Treat Ourselves Out Of The Deficit

    7 Reasons We Should Trick Or Treat Ourselves Out Of The Deficit

    At 7 Reasons (.org) we’re humourists, writers, film-makers and…well…those things.  Occasionally though – very occasionally – we branch out.  And today is one of those days.  Because we’ve just had a really good idea.  A brilliant idea, in fact.  Britain can drag itself out of the current recession by trick-or-treating.  Yes, that’s right. we really did just say “Britain can drag itself out of the current recession by trick-or-treating”.  And it will work.  Here are seven reasons why:

    A scary pumpkin face eating a smaller pumpkin on a front lawn

    1.  History.  In Victorian Britain, you could barely move for ragamuffins up chimneys and urchins being put to work in blacking factories.  Not to mention girls in t’mill or plying their trade as occasional flower-vendors.  And Britain was the most prosperous, powerful and advanced society of the age; all built on the ruthless exploitation of children.  Trick-or-treating our way out of the deficit is essentially a more modern and palatable version of the Victorian model.  History commands us to do it.

    2. Big Society. Love them or hate them, the Tory flagship policy is something called the ‘Big Society’. The premiss, if we understand it correctly, is that it empowers local people. Demanding treats from old ladies is also pretty empowering. Some people, especially those with chainsaws, are really good at getting big treats. Logic dictates therefore, that trick-or-treating is right up Big Society’s street. Which is convenient as this is where we should all be going on Sunday night. With or without tree surgeon utensils.

    3.  Balance of Payments.  Americans are the greatest per capita consumers of confectionery in the world*.  Having trick-or-treated vast quantities of sweets from our neighbours, we can export them to America.  Not only will this be a healthy profit for Britain, it will also be a healthy profit for America; the nation that owns most British sweet manufacturers.  This perpetual transatlantic sweet transaction will enrich both nations to the point where they will be able to rid themselves of their burdensome debts and counter the economic threat of emerging nations such as China and India.**

    4.  Incentive. Trick-or-treating happens once a year. Assuming you are doing it properly that is. If we fail to eradicate the deficit this year, we will have to live through a year of cuts until October 30th 2011 when we’ll get another go. Paper cuts, however necessary, are bad. Bread knife cuts, however necessary, are even worse. Bowl cuts, however necessary, are worse still. And they are nothing compared to the cuts, however necessary, that the coalition have just announced. So if you don’t want to get cut, get out there and get some money. Or some Dairy Milks.

    5.  Pumpkins. Most people who knock on doors and ask for a donation carry charity boxes. The volume of these is seldom satisfactory and rarely saves so much as a tin of tuna let alone a Whale. A pumpkin however can be very satisfactory in size. So, once you’ve hollowed out your pumpkin – but before you’ve made eyes and stuck a candle inside – whip up and down the street a few times. Actually, make it once. People might get annoyed/poor if you get repetitive. Oh, and once you’ve finished with your pumpkin, sell it. Ideally to Americans. They wear them on their heads.

    four people lying down with pumpkins on their heads

    6.  George Osborne. Only time will tell, but given the current economic climate it is likely that Osborne will go down in history as either a genius or a buffoon. It’s fair to say, that at the time of writing, many people think he is a buffoon and they’d like to give him a slap on the chops. To others though, he is seen as a strongly-willed man making tough decisions when they are required. These people want to shake his hand. Sadly, George doesn’t have enough hands or chops to go around. Which is where this genius 7 Reasons idea comes in: Many people like dressing up and wearing masks when they set about trick or treating. This year all trick-or-treaters should wear a George Osborne mask. This way, for one night only, people all over the land get the chance to slap or shake the Chancellor.

    7.  They Shoot Horses, Don’t They? In the Great Depression (the last time things were this bad) people kept themselves entertained by participating in many dubious activities and entertainments: Dance marathons, jigsaw puzzles, penny-a-card bingo, pointing at aeroplanes and beating hoops with sticks were all popular leisure activities during the 1930s.  By using these soporifically tedious activities to distract themselves from the straitened economic circumstances and widespread hardship, people were able to gaily throw their woes aside and the national mood – in contrast to the economy – was one of buoyancy.  In 2010, we can learn from the past.  By participating in something as brain-achingly tedious as walking up and down the street in the cold and meeting the neighbours – or ceaselessly answering the front door and meeting the neighbours – we will improve national morale and, with a new, breezy confidence to fortify it, the nation will boldly march its way clear of the deficit.  And all because of trick-or-treat.***

    *We assume, based on having seen them.

    **This should work.  We have no idea why “professional” economists didn’t think of this sooner.

    ***The 7 Reasons team can be hired for the writing of manifestos and speeches and are willing to discuss the exchange of principles for money.  Or tea.  Or tiramisu.

  • Russian Roulette Sunday: Make Do And Mend.

    Russian Roulette Sunday: Make Do And Mend.

    Russian Roulette Sunday

    Hello. It’s Sunday again. And Sundays come as Sundays do – after five days of hoping that the other 7 Reasons writer has come up with something for Sunday. They never have. Which is why Marc came to me yesterday, breathless and devoid of inspiration, and said, ‘We don’t have anything for Sunday do we?’

    ‘No,’ I replied, supping on a cup of tea and stroking my mirror.

    ‘Damn,’ was his silent reply.

    We sat in silence for a minute or twenty. Neither one of us prepared to say, ‘Let’s have a Sunday off’. Then, just as I was about to snap my gingerbread man at the neck, Marc leapt out of his chair and kicked the cat. ‘Let’s do some more advertising!’ he declared.

    ‘Marc,’ I began, my blood beginning to simmer at my colleagues scant disregard for our lack of money, ‘we don’t have any finances. You gave all our money away to Pearl & Dean and my masks have proved about as popular as Esther Rantzen in a…well about as popular as Esther Rantzen’.

    ‘You make a good point Jon,’ Marc said, taking off his pith helmet and vaulting over the desk, ‘but maybe we can just make do and mend.’

    I looked puzzled, Marc was using phrases from World War II again. ‘How do you mean, Marc?’

    ‘I mean, we just use a load of old adverts and pimp them to suit 7 Reasons. Then we can ask people to put them up in their windows and on the back of their cows.’

    ‘Genius!’ I shouted, sending tea all over my groinal department. And with that Marc left, leaving a waft of whisky and a cat stuck in my plant pot.

    Thirteen hours later we were finished. And so was the cat.

    So yes. Please choose your preferred poster and stick it up in your place of work, caravan, shed or personal telephone box. Then take a photo and send it to us. It’s not that we are an unbelieving duo, we just like to know our hard work has been worth it.