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118118 Money Team  •  July 30, 2023



In a time when every quid is a soldier in your battle against inflation, millions of families stand shoulder to shoulder on the financial frontlines. Fear not, for every challenge presents an opportunity. Your secret weapons? Planning and Persistence. Welcome to bootcamp for your budget, where we'll transform your financial fortunes and triumph over credit card and personal loan debt.

1. Building Your Battle Plan

Without a trusty map and compass, a ship flounders in uncharted waters. Consider your budget your personal GPS, guiding you through the foggy seas of credit uncertainty. The foundation stone? A deep understanding of your income and expenses down to the very last penny (including credit card payments and loan re-payments). This detailed battle plan is your first line of defence in the war on financial uncertainty.

2. Commanding Your Cash Flow

Begin with familiar terrain - your earnings. Yes, your pay may oscillate weekly or monthly, especially if you freelance or accept temporary work, but you know the lay of the land – how much you net after tax. This is the first hill to conquer in your budgeting crusade.

Next, arm yourself with the right budgeting artillery. A potent budgeting tool syncs with your bank accounts, auto-updating your spending and earnings. It'll allow you to separate your outgoings into 'essential supplies' and 'luxury loot'. As you sort your outgoings, you'll start to see the battleground from a bird's eye view. Don't panic if you've been outspending your income - this revelation is your wake-up call to the importance of a well-planned budget for long-term financial victory.

3. The Fortifications of a Firm Budget

Flexibility is the secret weapon in a solid budget. Allow for unexpected ambushes - those unforeseen expenses that can strike at any moment.

Firstly, establish your personal war chest. Each month, squirrel away a fraction of your earnings into an emergency fund. Aim for enough to cover 3-6 months of income, ensuring you're battle-ready for any scenario.

Next, sort your expenses into 'vital provisions' and 'luxury loot'. Many have fallen prey to impulse purchases before budgeting became their ally. But now, every penny must pass muster. Ask yourself: Do I really need that costly coffee today? Maybe. The key is to question each spend within the context of your monthly budget. Once you've categorised your expenses, you can evaluate how your income has been deployed and how much ammunition you've left.

Remember to include all credit card and loan debt payments in your battle plan. Timely payments fortify your financial stronghold, essential for long-term fiscal health. Always include them in your budget.

With inflation, the price of 'vital provisions' gnaws at a larger portion of your income. The true power of a budget is its ability to forecast your financial standing over the next year, even as prices march upwards. This foresight is the spyglass that helps you anticipate and prepare for the financial battles ahead.

Fortified castle

4. Tactful Measures to Consider

The fable of the tortoise and the hare isn't just a bedtime story, there's a fiscal tortoise amongst us – frugality, slow and steady. Strap in early, adopting conscious spending, economical living, and continuously scouting for saving opportunities. Thrift shops, low-cost leisure, home cooking over take-outs, and cutting out non-essential costs, like subscriptions. Every penny saved is a step towards your financial freedom.

Consider opening additional fronts to boost your income. Exploit your talents in freelancing, tutoring, or other services to create extra income streams. Garage sales and online marketplaces can convert clutter into cash.

5. Safeguard Your Credit Shield

In a world where trust is as rare as gold, your credit score is your financial coat of arms. Pay your bills promptly. Use credit wisely. Strive daily to bolster your reputation, smoothing the way for loans and credit cards, like the 118 118 Money Credit Card. Honour this commitment to lift your credit score and secure more favourable APRs.

6. The Strength of Stamina and Tenacity

Financial fitness is a marathon, not a sprint. Embrace patience and persistence, committing to your battle plan, knowing each step, however tiny, takes you closer to financial freedom. Rejoice in small victories, keep your eyes on the prize, and remember, progress is a march, not a dash.


Through strategic planning, disciplined saving, and a relentless commitment, you've charted your course to a prosperous financial future. As we rally against inflation and financial storms, let persistence be your bulwark and planning your guiding star. Each victory, penny saved, and debt paid is a stride towards a secure tomorrow.

Raise a glass to the two Ps - Planning and Persistence - the trusted allies on this exhilarating march to financial fitness. Stand firm, keep acquiring wisdom, and let the winds of commitment and the compass of planning steer you towards financial stability.