askpaul explains about budgeting & managing personal finances:

Hi, everybody, and welcome to today’s video on askpaul.ie. So, a very quick video where I want to go through a concept with you. If you’re in a situation where you’re married or cohabitating with a couple of kids, renting a house or have a mortgage, you have to consider whatever income comes into the house the same way that a business would.

If we had a business that was struggling and couldn’t pay our staff, couldn’t pay our mortgage, what would you recommend that business did? You’d recommend, for of all, to cut costs as much as possible. Then, shop around and make sure that the business isn’t paying too much money for electricity or gas.

The other thing you would probably do is increase sales if possible. What does increase sales of a household mean? It means bringing in extra income. So, if you can get a part-time job, or if you can get a second income coming in at the weekends, that will help towards improving your overall finances. Do whatever you can to try and increase your income, i.e. your sales.

Running a household income is very similar to running a business but, people think because it’s personal income, that they can bury their heads in the sand and maybe not worry about it too much.

So please, rather than sacking the kids i.e. your employees, take control of your finances today, and maybe put a plan in place to try and increase that discretionary spend for yourself.

Contact askpaul today for help with improving your finances today!