Sep 19 2008
People looking to keep their finances in order in the light of current economic difficulties, including parents saving for their children, have been advised to "tighten their purse strings".
Commenting on the issue, Daniela Gieseler, spokesperson for Fairinvestment.co.uk said that while many people shy away from the word "budget", practicing such financial restraint is necessary.
She said: "There are a number of things you can do to practice damage control and limit your financial fallout from the credit crunch, such as cutting back to save pennies where possible, and practicing good money management."
Ms Gieseler went on to suggest that getting to grips with finances can be an empowering experience for consumers and can provide them with a sense of achievement.
Also issuing advice recently, Defaqto recommended that people should maximise the amount of money they invest in individual savings accounts in order to take advantage of the tax savings they offer.
