Old proverb inspires Tottenham author's money management guide

A FAMILY man from Tottenham has written his first book dishing out easy-to-read tips on how to weather the credit crunch storm.

Married father-of-two, Isaac Carter, 49, was inspired to write his everyman guide to good financial management, Go to the Ant, after becoming concerned about the growing trend of living for today and neglecting to prepare for an uncertain future in the wake of the economic downturn.

The pracitising solicitor, who was raised in Tottenham to immigrant parents, said purse strings had been tight but there had always been enough to go round thanks to his parents' sensible approach to money and ethos of hard work. His mother took a job at the Wingate trading estate, behind White Hart Lane stadium, and his father was a church minister.

Mr Carter said: "The minute you start talking about savings and budgets people get bored. They want things now while they have the money. But budgets can actually be liberating. It means you can have life's luxuries without falling into debt but through proper planning.

"I wanted to write a book that was simple to understand, jargon-free that ordinary people could relate to. I was inspired by the ant. Ants are well-known for their industriousness nature. They waste nothing and are always working towards their next goal so that during hard times they are prepared."

The ex-Northumberland Community School pupil signed copies of his book at the Bernie Grant Arts Centre, in Town Hall Approach, on Monday.

"It was really important for me to do the book launch in Tottenham. This is where my roots are and where I started out," he said.

Here are some of Isaac's top tips:

• Always have a budget "A budget is the cornerstone of a good financial management. It's an exact record of how much cash is coming in and how much is going out. It is an indicator of whether or not you are living within your means."

• Know when to cut back "If you are spending more than you are earning you're going to fall into debt. Look at areas where you can give up on luxuries even if it's for a matter of months. Look at ways you can save money on bills by swapping providers or swap a high-interest credit card for one that offers interest-free balance transfers."

• Earn extra cash "If you find it difficult to cut back consider getting a second part-time job or selling unwanted items on Ebay."

• Talk to your creditors "Don't be embarassed to talk about your financial situation. If you find yourself unable to make payments explain this to your creditors and you may find they are more understanding. You can also get good advice from the Citizen's Advice Bureau or a debt counsellor."

• Save, save, save "It might sound boring but it's never too soon to start saving. You can divide your savings into short or long-term goals. Short term goals might be a holiday or a new television.Long term goals might be things like a deposit for a house. It is also useful just to have an emergency fund. Having something for a rainy day means you won't be backed into a corner."

• For more top tips or to order a copy of Isaac Carter's book visit www.gototheant.co.uk

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