If you’re expecting a lump sum, put it into a savings account and accumulate some interest.
Consider setting up a periodic payment on your internet banking into a savings account and continue living off your current net amount.
A savings account separate from your everyday account is imperative as it can earn you interest, it allows you to keep track of how much you’re saving, and, importantly it helps to prevent over-spending as one might do if they keep all their funds in one account.
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