If you want to provide the best possible life for yourself and your family, the first thing you need to do is take control of your finances. If you haven’t got your finances in check, you can expect to live from payslip to payslip, not really saving anything or having money for luxuries. Even if you’re not making a fortune, by taking control of your finances you can afford those little extras that will make your family’s life more enjoyable. Take a look at the following simple but effective tips to help you:
Do The Math
Grab a calculator and do the math. Work out what you have coming in and what is paid out of your account each month. People only usually pay attention to their incomings, and pretty much ignore their outgoings. This means they always end up with less money than they thought they’d have, living hand to mouth. Knowing what is coming out and when will allow you to be more savvy with your spending, and you’ll probably even start to feel like you have more money than ever before. Mark important outgoings on your calendar if that helps, so you don’t forget.
Use Apps To Keep Track
There are so many amazing apps you can use to keep track of your finances these days. Some of them require you to put in data yourself, while others sync up with all of your bank accounts and show you what’s going on in real time. Using these apps to keep track can help you stay focused on your long term financial goals and make smarter choices.
Work Out Where You Can Cut Back
There are always going to be areas you can cut back. Maybe you could switch to a cheaper supermarket or brand. Some studies have shown that the cheaper brands are sometimes higher quality than the most expensive and well known brands, especially when it comes to things like diapers. Take a look at things you buy most regularly and cut back somehow. The money will soon pile up.
Check All Of Your Bill Providers Each Year
Instead of just letting your accounts with your bill providers roll over, check them all out every year. Do this before your contract is due to renew, and see if you can get a cheaper deal. You may not need to swap at all if your current provider is willing to give you a better deal or match the deal. You won’t know if you don’t check, and you could end up saving a substantial amount of money each month. In some cases, you can even use credit cards to save money. Learn more here.
Speak To A Financial Advisor
If you’ve always sort of struggled with money, it could be time for you to speak with a financial advisor. They can help you to come up with a plan for the future!
Read Books On Finances
Read books on personal finance and note down or highlight things that really speak to you, or things you want to remember. Take all of this in and you’ll soon condition yourself to be more money savvy than ever. Remember, your children learn from you. Not just the words you say, but the things you do around them. If they see you being smart with money early on, you’re going to pass this good habit onto them!
Image credit: Alan Cleaver – https://flic.kr/p/7xMBRC