Ways to improve the finances

General

Finance is about acquiring, allocating and preserving money or other valuables. Organizing your finances increases your financial security and disposable income over the course of your life.

Starting right away

It is never too late to start planning your finances and it is not important whether you:

• just started to earn money

• want to use money more efficiently and don't know where they go

• have problems paying bills

• are planning big purchases and do not save regularly

Get a look

The first step is to understand the current situation. It is important to plan for payments and get an overview of:

• total income

• and whether it is possible to reduce

• the difference between income and expenses and how you want to distribute that difference

• what you need to do to achieve financial goals

You can use (xls) and (pdf) to support a comprehensive overview of revenues, expenses, spending and finances.

With a financial overview and structure, it is easier to set realistic financial targets.

Are you missing something you have a right to?

Find out if you are entitled to:

• interest and child benefits for

• housing benefits at

• special housing support at the local authority concerned.

• with the

• financial assistance for single parents in

Information for co-payers can be obtained at www.co-pay.is.

Avoid:

• spend in excess of income

• take unnecessary or small loans

• have a loan in arrears

Onwards: