Mark McDonald wins Aberdeen Donside by-election

Follow these tips to help you with your own financial challenges in life.

10:56 24 June 2013

Mark McDonald is the winner of the Aberdeen Donside by-election after the tragic death of SNP Brian Adam. It was undoubtedly a challenge to follow in the footsteps of the 64-year-old Brian Adam, who reportedly battled with cancer, but McDonald was the clear winner over multiple other candidates.

His first priority is to keep schools open as much as possible.

We all face challenges in our home lives, the workplace, and especially in our finances. Here are a few ways to overcome or prevent some of the most common financial challenges:

• Develop a plan—if you can decide how often you want to review your budget and make necessary adjustments, you’re on your way to reducing the chances of a financial hurdle that can’t be cleared. Being on top of things is the first step to making good banking decisions.

 

• Cut expenses—this probably seems like a given, but it’s much easier said than done. The best thing to remember is that the cuts you decide to make will most likely be temporary.

If you can combine services, such as using the internet off your cell phone so you don’t need to pay for separate internet, you could make a sizable dent in your monthly costs. Look for ways to combine bills, or cut out services altogether.

• Set aside money—this is part of planning for the future. If you can begin a savings account of some sort, even if it’s money in a jar, you’re doing one of the most important things possible to help you weather any financial difficulties and minor emergencies that can arise.

Vehicles need maintenance, appliances break, and homes need repairing. You never know what might happen, so a savings is the best way to give yourself protection against the unknown.

• Spend wisely—reward yourself now and then, but work your spending money into your financial plan to avoid overspending.