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Three steps for taking control of your finances


Does it sometimes feel like you’re living from paycheck to paycheck? Like your money comes in and goes out of your account without you ever really noticing it’s there? It can easily happen in this age of direct debits, contactless payments and online shopping.

Of course, these modern banking tools are fine in themselves and no one really would seriously advocate spending hours queuing at the bank or counting out change at the till. What is required, therefore, is the need to take greater control of your cash. After all, it’s your money, so you should use it according to your rules.

To help you do that, here are three ways you can take greater control over your finances.


Make a budget

OK, this may not be the most exciting thing to do but having a concrete list of what you are spending and where will give you more control of your cash. It could also help you to cut back on unnecessary spending.

You can also use online budgeting tools to adjust your financial plan as and when you need to. Simply log in and all your information is stored for you to access. This should reduce time spent writing it all out manually (including correcting the inevitable mistakes) and means your budget is not tucked away in your desk draw when you need it most.


Limit yourself

It’s all well and good having a budget but you have to stick to it. Limiting what you spend can be tricky, especially if you don’t have a firm grip on your finances. However, using modern online card accounts like Soldo gives you the power to limit spending in certain areas.

You can control and cap your spending in specific places or according to certain timescales (days, weeks or months). You can also allow yourself a little something extra to splurge in places where you know you have a weakness. After all, you know what they say about all work and no play.

If you change your mind about your set limits, simply use the app to regulate your budgets as and when you need to.


Stay informed

Knowledge is power. If you don’t know what you’re spending and when, it can be very difficult to maintain the control over your finances. Using a virtual card from Soldo, you’ll receive regular notifications about your money’s activity.

Each time a payment is made, or even declined, you’ll know about it straight away. That means there will be no more nasty surprises. And, if there is a problem with a payment of any sort, you can resolve it quickly.

The key to gaining greater control over your finances is better access to information. Money moves around quickly these days, so you need financial tools to help you keep up. That’s exactly where Soldo comes into the equation – use it and you’ll find that keeping a closer eye on your cash might be easier than you thought.