Do you find it hard to keep track of your finances? Is it almost impossible to save for the future? You need to be proactive about organising your budget. Here are some tips on how to get your money under control.

• Write down how much things cost It may seem dull, but this can be an eye opening exercise. Write down every item you buy and it's cost, and you will soon see where your money is disappearing to. You can then make the informed choice to cut out certain things, or replace them with cheaper alternatives. Doing this will also make you much more aware of your spending, and help you to make more considered choices when it comes to your money.

• Plan your meals If you plan your menus in advance, you'll be less likely to buy food you don't use. Every time you throw out of date food in the bin, you're effectively chucking your money away. A sobering thought, isn't it? If you do your grocery shopping online, you'll find it easier to stick to your plan, and won't be tempted to deviate and buy things you don't want or need.

• Divide big purchases into chunks If you plan to take a holiday, or buy a new car, the cost can appear very prohibitive. Do your research and figure out how much you want to spend. Then, divide that figure into monthly and weekly chunks, so you know how much you need to put aside. You'll find that you are much better prepared for bigger purchases, and you will be less likely to use credit cards or loans. If you can avoid using your credit card to pay for that holiday, you'll save. You'll also have the added advantage of the peace of mind that comes with knowing you've got all bases covered.

• Withdraw cash at the start of each week Calculate how much you need over the course of the week, and take it out of the bank machine on a Sunday evening. Leave your debit and credit cards at home, and you'll be amazed at how much you save when it's just not possible to make those impulsive purchases.

If you want to be financially on the ball, you'll want to know about the most expensive means of borrowing. Being well informed on the means of borrowing that could end up costing you much more than you bargained for will mean you can avoid getting yourself into debt that spirals out of control. Credit cards, store cards and pay day loans can all become headache inducing means of borrowing, especially if you don't do your research.

Credit cards can be an effective way to spread the cost of your borrowing, but only if you can get a good rate. If you don't have a good credit record, you can end up paying through the nose for your purchases. If you have little or no history of borrowing, you might also be charged a high rate for credit. The credit card providers don't take risks on people whose financial futures are unstable, so you might be better saving up for your more expensive purchases. However, if you are sensible, and only spend what you can afford to pay off at the end of each month, you could use a credit card to build a solid credit history. If you are in any doubt about your ability to do this, steer clear. The country is full of people with astronomical credit card balances, who are locking themselves into a lifetime of debt by only repaying the minimum repayment each month.

Store cards often have very high APRs, as can hire purchase arrangements. Do you really need that new dress? Can that new suite for the living room wait a few more months? Avoid this kind of borrowing at all costs, especially if you don't have a great credit record and are being offered a high interest rate. When you can't pay your bills because your store card bill has eaten up your income, that new outfit will quickly lose its sheen.

Pay day loans are the worst ways of borrowing. Unfortunately, they are usually taken out by the most financially vulnerable people, who can least afford the extortionate interest rates. You can end up borrowing more and extending your loan month by month, so that the hundred pounds that was a lifesaver at the start becomes a crippling mound of debt. You really should exhaust all other options before you go down this route.

Whether you don't have much cash to spend, or you simply want to put a bit aside for a rainy day, you can make your groceries stretch. Planning meals that allow you to use the same ingredients more than once can be an easy way to cut costs. Here are some ideas to get you started.

• Bolognese to chilli You can create two meals with a packet of minced beef (or vegetarian mince if you prefer). Make your bolognese one day, then spice it up with chilli powder and kidney beans later in the week.

• Roast chicken to curry Enjoy a roast on a Sunday, and use the left overs to make chicken curry the following day. All you need is some curry powder, an onion, tinned tomatoes and a blob of crème fraiche.

• Boiled eggs to frittata Enjoy a breakfast of boiled eggs, then use your eggs combined with whatever you can find in the fridge to make a tasty frittata when you're having friends over for lunch.

• Tomato sandwiches to pasta sauce Buy a large punnet of tomatoes and use some for a quick sandwich on the go. Use the remainder to make a simple pasta sauce. All you need to add is a bit of garlic, some basil and a drop of olive oil.

• Bacon roll to macaroni cheese You can enjoy the luxury of a bacon roll for breakfast one day, then use your bacon to make a tasty dinner. Just add cheese, onion, macaroni and a white sauce, and you'll have cheap comfort food.

• Meat and potatoes to tortilla Don't throw away your left over potatoes, put them to one side and you can create a tortilla. You can add whatever you like, and it will make a substantial lunch that can be eaten hot or cold.

The first steps into the big bad world are always tentative ones. Suddenly there are bills to pay, books to purchase and phone credit to cover. With all of that to consider, your student loan is probably looking like a pathetically small amount. Rent alone takes an enormous chunk out of it, and that's before mentioning heating, food and drink. Here's some general survival advice on how to live as a student.

Firstly, budgeting. This is extremely important, so learn it. Open up your copy of Microsoft Excel and create a table outlining your outgoings. All the essentials go here – food, bills, rent; the whole lot. Make sure you don't miss anything because it could cause you a serious inconvenience later. Be sure to prioritise. Would you rather have that new CD? Or would you rather have the heating on today? Once you've made your budget, you need to stick to it, otherwise it's a pointless exercise.

Secondly, a lot of the courses will require you to purchase books to study with. Make sure you deal with this ASAP – if you order way in advance, the chances are you'll be able to pick up a cheap used copy on the Internet, and it won't matter how long it takes to get here. If you wait until the day before you need the book, you'll have to spend money in a book shop, and those are always more expensive. This little rule goes for practically everything. If you see it on the high street, chances are that you can find it on the web for cheaper.

Opening the right bank account to suit your saving and investment needs is a confusing decision. When it comes to savings accounts, there are a few different kinds and it's up to you to decide which one suits your need.

Are you looking for an account you can instantly access when you need it? Here are a couple of suggestions of bank saving accounts in the UK that can help you do just that:

• Bank of Ireland (UK) offers an AER (Annual Equivalent Rate) of 3.05% and a 1.25% (12 month) bonus rate and can be accessed through the internet. The minimum deposit for this Instant Access Savings Account is £1.

• Santander eSaver Issue 4 is another option with a 3.10 % AER and a 2.60% bonus rate and is also accessed through the internet. Again, the minimum deposit for Santanders Instant Access Savings Account is £1.

If you have a habit of spending your money a little too quickly, you can try a notice savings account. This type of account may require you to give up to 90 days of notice before withdrawing, which could help you to plan and budget your money wisely. Here are a couple of bank saving accounts that can help you with your budgeting:

• Manchester BS Premier Notice Issue 37 offers an AER of 3.16 % and a bonus rate (12 months) of 1.5%. Notice period is no less than 35 days and Manchester requires a 1,000 pound minimum deposit. It has postal or branch access.

• Aldermore 90 day notice has an AER of 3.10% and doesn't have a yearly bonus rate. You are required 90 days of notice before withdrawing. Aldermore also requires a 1,000 pound deposit and can be accessed through the internet, branch or postal.

The best kind of account to go with - if you seriously want to save funds - is a 1 year fixed-rate savings account. You leave your money in for a year with NO withdrawals. A couple of suggestions to allow you to do so are:

• Yorkshire Bank Term Deposit has an AER of 3.60% with a minimum deposit of 2,000 pounds. It can be accessed through the branch or internet. Customer score gives it a 61%

When dealing with the stock market, the main thing you should keep in mind is unpredictability. A common mistake that people make when dealing, is the idea that they have a way to predict the market. This method will not enable you to earn maximum returns on your investments. It may be positive for a short period, but eventually you will lose.

Financial guru, Larry Swedroe, has been in the stock market for a long time. Below are some of the five practices he believes you should stay clear off if you want to avoid making bad investments in the stock market.

Believing that you can time the market, buying low and eventually selling high, is a fantasy. Most people who try timing the market end up frustrated and give up. Some end up buying high and selling low. Therefore, it is a better practice to concentrate on average buying and selling. Buy when the prices are moderate and sell the same way. You will not make extra ordinary profits, but you will also not have any extra ordinary loses.

Do not believe in yourself too much. A little caution is needed when dealing with the stock market. Otherwise, you will end up buying too fast, without all the information you need to make good judgment. If you are not diversifying your stock holdings, for instance, chances are you are over-confident. The same applies to people who trade too much. In the long run, your stock investment will not have got you those good returns.

Many first timers in the stock market believe that the well-known companies make great stocks. In a limited capacity, this is true. However, these companies have been in the stock market for a while. Therefore, their high returns are inclusive in their high premiums. So when you buy into them, the returns are usually lower. You should look at the prospects of all the companies and not just invest in the larger companies as they too might disappoint you.

Not referring to the classic Bon Jovi disc lying on the car seat, CDs refer to a type of financial investment. Standing for ‘Certificate of Deposit’, CDs are like an investment in which is very low risk. Comparable to a savings account, CDs are deposits that grow and make money over time.

CDs are issued by various financial institutions, including banks, a company’s credit union, or a Savings and Loan Institution. A savings account is a very secure low risk way to accrue, or slowly receive interest on return for depositing an unlimited amount. On the contrary, a fixed amount is deposited into a CD account and like a savings account accrues interest, but at a higher rate. CDs can be classified as an investment that is not as low risk as a standard savings account, but less riskier than stock.

It is most recommendable to keep your money for the fixed time period, unless the investor is willing to pay the consequence. Investors choose anywhere from 3 months up to 5 years to keep the amount in an account (the higher the amount invested, the higher the interest rate) until it has reached maturity. At this time, the investor can withdraw the new amount.

Money withdrawn ahead of the matured time will face penalty. These penalties depend on the specific financial institution’s policy. One example: the institution will take back interest earned in the past few months, which is essentially a fine for having withdrawn. It is less suggested to pull out money ahead of time, but consumers sometimes find themselves in a dire need for fast cash.

Groupon: it seems to be deal heaven and yes, they do offer awesome deals on these sites, but look deeper to find out how you can get the most out of them.

Here are some tips:

• Holidays! Groupon offers deals on certain Holidays. Keep an eye out for them.

• Give Groupon gift certificates. You avoid paying shipping costs and your presents will be worth much more than what you paid.

• You can earn $10 discounts by inviting friends to participate in Groupon.

• Personalise your Groupon account, adding your post/zip code, gender or age to see the deals that are relevant to you and the area in which you live.

• Check the ‘use by’ date. Vouchers do have an expiration date. You don’t want to get a great deal and then suddenly realise you can’t use it anymore.

• Check out the reviews of the restaurants or hotels you can get deals on. You may get a deal for a place that you should even pay less for. You can’t always believe every word you read in reviews, but when you see more than say 3 or 4 negative reviews on a place, be careful!

• Don’t buy stuff just because it’s cheap. Before you know it, you could have spent a whole lot of money on a whole lot of nothing. Look for the deals that matter the most to you personally. Unless, of course, you find deals that you might need later on, such as beauty salon deals or yoga classes, just always be sure to check the expiration date.

• Look on the Groupon site on the days when you plan to have some time off or do something fun, thus finding deals for that day.

Looking to save? Aren’t we all? With the economy the way it is, it can be difficult to know where to trim down or stop spending. Here are some tips to help you save some cash, but still enjoy life and live happily while you are at it.

• Cook at home often. It’s cheaper than regularly eating out. Save eating out for the weekends or when it’s unavoidable.

• Buy generic products. You don’t NEED to have name brand products or clothing, but do keep in mind to buy quality.

• Avoid impulse buying. It’s easy, when you see something you want, to buy it right then and there, but a little bit of patience can pay off and ensures that you get the right thing at a good price.

• Ride your bike and avoid the car. If it’s convenient for you and you live close to where you work or study, ride the bike. It saves you from spending money on petrol, which, let’s face it, is one of the biggest uses of our money.

• Keep an eye on your plugs. Anything you have plugged in, even when it’s turned off is still using power. Unplug your computers, mobile phones and microwaves when not in use.

• Book holidays or trips early. You can get great deals on flights and trips if you book in advance.

• Walk more, take transportation less. Most public transport is not that expensive, but it does add up. If your desired destination is close, say a couple of kilometres, why not walk? It’s healthier and may save you quite a bit of cash.

• Cut down on drinking. Cringe. Easier said than done, but drinks aren’t as cheap as we’d like them to be and people don’t usually end the night with just drinking one. You can end up spending quite a bit of your savings by giving in to “just one more”.

• Quit smoking. Cringe. Again. But smoking is a BIG money spender. If you’re used to smoking a lot and are wondering “where did my money go”? Well, check out that little box in your hand.