Inflation has been back in the news most of this week, as it hit the highest level since UK records began. But many people have been feeling the squeeze without needing a number to tell them the cost of living is soaring.

There’s never been a better time to get your finances in order and it’s not something to keep putting off. Stick the kettle on and make a list of your income and all your outgoings. Then look at the balance and your outgoings in particular. Work out if you can make savings anywhere - either to free up your cash flow, help reduce any outstanding debt or simply to keep for a rainy day (the forecast’s not looking too hot after all).

Our free Wonga budgeting tool should help and it’s been designed to take the pain out of doing the maths. You can download it from our borrowing advice section. Go on, it won’t bite!

This entry was posted on Thursday, August 14th, 2008 at 2:18 pm and is filed under Credit crunch, General, Responsible borrowing.