Money is a little like untrained personnel. Without the right discipline and guidance it will almost certainly end up concentrated in the wrong area or even disappear altogether.
It’s time to take command of your cash and let it know who’s in charge.
Organise your troops
It is one of the privileges of my rank that I am responsible for Sandra and the rest of my squadron, and charged with directing them to achieve their objectives – namely to make sure that PaydayUK’s payday loans are delivered with speed and efficiency – and I allocate my available personnel accordingly.
In the same way, you need to know how much money is coming in to your account, and how much is going out. Then you can look at your spending priorities and allocate funds appropriately.
Are they obeying orders?
When they are on duty at the PaydayUK Command Centre I pride myself on always knowing what my personnel are doing. In the same way you need to know what your money is being spent on.
I keep a spreadsheet on my computer to track my team’s activities, so I know, for example, if Sandra has spent a little too long away from her desk. (I should add, of course, that this never happens. She is seldom away from my side for more than a few minutes, other than to brew one of her excellent pots of tea. I repeat; tea made in a pot. Never in a cup. Never.)
If you don’t already keep a track of your money’s activities, might I respectfully suggest that you start now? A simple computer spreadsheet that lists the income you have received and the money you have paid out is all that’s needed. Break those outgoings down into activities such as rent, travel, food, household expenses, insurance, loan repayments etc. and you will soon be able to get a good picture of whether or not your financial troops have been correctly allocated.
Why, there are even apps for smartphones – such as Money Basics’ spendometer, or Money Manager or Account Checker which almost do the job for you. So there’s no need to be slovenly about this.
Make the best use of your resources
I spend a lot of time looking at Sandra and the rest of the squadron, to make sure that their skills are being used in the right way. And if I need to concentrate my forces in different areas I do so.
In the same way, once you have a good picture of what money you have and what it’s being spent on you can decide if and where you need to re-allocate your funds to make the best of your resources.
Be consistent – and be disciplined
The PaydayUK Command Centre is an efficient unit because I set an objective and put the personnel in place to achieve it. I don’t suddenly take Sandra away from one duty and give her new orders when her original task has not yet been fulfilled. So determine your financial objectives and set a budget and then stick to it.
I always ensure that I have enough personnel available to cover in an emergency. Try to make sure you have allowed enough money in your budget to take care of expenses that don’t come around every month – like birthdays, car servicing etc.
For more information on how to discipline your financial troops, visit the Money Advice Service website for free, independent service advice.
And finally, if, in spite of you getting your money under control, ‘the enemy’ makes a surprise attack in the form of an unexpected bill, and you find that you don’t have sufficient resources to deploy to deal with the situation that month, remember that you have allies. The personnel of the PaydayUK Command Centre are always available to come to your aid with a payday loan to bolster resources and see you through to payday.
