How to manage your money!

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One of the advantages of doing an apprenticeship is that you can earn while you learn! No need for forking out on any tuition fees because apprenticeships are on the job training!

For many of us this will be the first time we've ever earnt money... So, at Lifetime Training, we have come up with these simple steps to help you manage your money!

1. Look at old bank statements and see where you're spending your money...

2. Figure out where you are spending money unnecessarily...

3. Using that information, make a list of 'wants' and 'needs'. What do you WANT to spend your money on, and what do you NEED to spend your money on?

4. Prioritise your 'need' list. Calculate how much your 'needs' come to and deduct that from your wage (e.g. car insurance, rent, food shopping etc.)

5. What is left of your wages? Take a look at your 'wants' list. How much are you spending on 'wants'?

6. Make the decision to reduce unnecessary spending and decide what you want to spend each month on 'wants' and what you want to put away to save!

If you stick to this plan, over the next few months, you will be able to save some money for anything you want! Holidays, clothes, you name it!

To get yourself onto an apprenticeship head to our apprenticeship vacancies to see what apprenticeships are available in your area!  

 

 

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