Deep Pockets

Turning Money Management into a lifestyle.

Keys to good Financial Health – Expenditure

  Variable Costs A Financial Health check is a review that needs to be carried out on finances. Variable costs are the last section of costs to be reviewed in the Financial Health check. We have previously looked at Income, Long-term loans, Short-term debt, and Fixed cost. Variable costs are flexible costs that vary depending on the level of output for example, money for groceries, going out and shopping. This is the […]

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Keys to good Financial Health – Expenditure

Fixed Costs When performing a Financial Health check, you will be reviewing important aspects of your finances. In my previous blogs we explored how to analyse Income, Long-term loans, and Short-term debt. In this blog will look at Fixed Costs.             Fixed costs are the costs you have to pay without fail. Asking the following questions will help you to start making long to medium term plans.  Are you getting value for […]

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Keys to good Financial Health – Expenditure

Short Term Debts Financial Health check should be carried out annually or once every 6 months. It is an analysis of income and expenditure which enables effective planning. In my previous blogs I have covered two vital components of an effective Financial Health check which are income (Keys to good Financial health – Income )and long-term loans (Keys to good Financial Health – Expenditure). In this blog, I will be focusing […]

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News Watch: Open Banking

Open banking which recently come into effect in the UK, has been called a banking revolution by some and a potential fraudsters heaven by others. The rules were introduced in order to increase competition and innovation within the banking sector whilst allowing customers to benefit from technological advancements. What is Open Banking? Open Banking are new set of rules that allow banks to share client information with regulated 3rd parties subject […]

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Keys to good Financial health – Income

I was watching Dragon’s Den (BBC UK) the other day and was intrigued by how the contestants had perfected their pitches when selling their products but almost always got tripped up when it came to one area the dragons are most interested in… the numbers and financial returns. Many of us take care of our health through routine visit to the doctor, dentist etc. We have an annual service for […]

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Keep that cash in your pocket!

Saving was one of the areas I used to struggle with because I wanted instant gratification. Over the years I have learnt to be disciplined. I now plan for most of my spending and it is more satisfying as I won’t be left out of pocket. Here are some tips I use to save money. I firstly decide on what I want to save for, it could be capital for […]

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