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tips to make managing your finances easier, budget tips

Managing your personal finances can be tough when you are a parent. It feels like there is never enough money and there’s alway something unexpected to pay for. It can be extremely frustrating but there are tips to make managing your finances easier. Just when you think you’re getting ahead, the car breaks or the central air goes out or there’s another tuition payment for ballet due. There are so many different things that contribute to the stress that builds up surrounding money, but if we break it down together then you might be able to work out how to cope a little better. Me too! In this article,I’m going to be taking a look at some of the things that you can do in order to manage your finances better and easier, so keep reading if you would like to find out more.

Managing Finances Can be Difficult as a Parent, Tips to Make Managing Your Finances Easier

Learn The Word No

First, I’d recommend that you start learning to say “no” without guilt. Of course, if you can say yes and you want to say yes, then this is entirely different. But, a lot of people say yes when they are in no position to do this, and that is a huge problem. It causes a lot of people a lot of money issues, and we don’t want to see that happening to you. As such, whether it’s to yourself, or whether it’s to your children, you need to be able to say no when something is not wanted if you cannot afford it.

We understand that saying no to your kids can sometimes feel awful, especially if they really want what they are asking for. But, there is only so much that you can do, and you can’t magic up money that you just don’t have.

Save For What You Want

Instead of just splurging all of your cash that should be for something else or in your savings account on something that you want, take the time to save up for it. With the money that you have leftover each month, you can take some of that and save for whatever it is that you are wanting. It might take a little while, but it’s going to be worth it in the end because you get the thing that you want, and you don’t have to use any money that was already allocated to get it.

Plus, you will know that you do actually want the product as you have spent the time to save for it. Most people will get bored of saving quite fast because they feel as though the item is not worth the amount of time and effort that needs to be spent to get it. Because of this, you will know that if you do stick it out that it’s something you really wanted.

Budget Well

Budgeting should be at the very top of your list for how to manage money. If you are not budgeting, then how do you know what you are spending? How do you know what you have left at the end of every month? How do you know how much to put into savings? The short answer is that you don’t know the answer to any of these questions which explains why you are having problems with money. It’s tough to manage money, we know, but it’s not tough to create a budget. 

To create a budget, you simply need to create two lists: one of these is going to be your incoming funds, and the other is going to be everything that you need to pay out. Take the total of the outgoing away from the total of the incoming, and see what is left. Make sure that each list is as detailed as possible, and always round up instead of down. For example, if you have a bill of 77.65, round it up to 78. It’s always nice to have a little more leftover than not enough to cover it. 

If you think that some of your outgoings are too high, look to see where you can make some cuts. You could change internet providers , look at ways to cut your grocery bill or even switch to a cheaper car to help you save some money. Cutting a few dollars here and there could make a big difference to your overall budget.

The money that is left is yours to do with what you want. However, we highly recommend that if you can afford it, you put half of this into savings so that you start to build up a decent nest egg. It’s important to have some savings for a rainy day, and even though it’s tough, it can be done if you are dedicated enough.

Find Discounts Where You Can

If you are spending too much money at the moment, then you need to start saving money, which can begin with finding discounts. When you are looking around online and doing some shopping, they often ask you at the checkout if you have any voucher codes. Now, there are a few ways in which you can find these discount codes, one of which is signing up to the company mailing list as they will often send them through this. Or, if you’re in the UK, you can use a site like NetVoucherCodes.co.uk which has a whole list of codes for you to choose from.

Try to keep in mind that if you’re struggling for money then any discount is a good discount. Any place in which you can find some savings is going to be helpful, and obviously, the bigger the discount, the better for you.

Save On Your Energy Bills

Have you given much thought to your energy bills? At the moment, the cost of gas and electricity is rising through the roof, having soared to numbers that haven’t been seen in a long time, perhaps ever. It’s tough because you need energy to be able to live the way that we do, but there are some ways that you can save. For example, if you use energy saving light bulbs, this will dramatically improve the overall cost of your energy bill. As well as this, when you leave a room, make sure that you turn the lights off. We know that it doesn’t feel as though you’re using energy because it’s what you’re used to, but if you want to stop paying through the nose so much, this is important.

You can look up other ways to save, and there are a few more such as getting better insulation. Just remember that this is more of a long-term goal, so you might not see any immediate savings.

Always Set Aside For Savings

As I mentioned earlier, you should always be setting some money aside for savings. The more that you can do this, the better it is going to be for you. I know that when you’re on a tight budget it can be tough to find the motivation to save, as you want to use the little money that you have left for the things that you love, or things for your children. However, if you can manage to put at least some of this in the savings pot, future you is going to thank you greatly when you need it.

If you think that you’re going to struggle with this, you can even start putting this into your budget if you think that it will help.

Credit Cards Are Not The Solution

The final thing that I’m going to say is that credit cards are not the solution to all of your problems, they are simply another problem that you are going to have. While it might not be a problem right now, it’s certainly going to be one when it comes time to pay it back, and that’s what you’ve got to keep in mind. Credit cards charge you interest, so even if you are borrowing some money, you’re going to be paying back a lot more than what you originally borrowed, which is not what you need in your life.

I wish someone had taught me this lesson before I went away to college and they were throwing free t-shirts and pre-approved credit cards at me. It has become like a chain around my neck. A lot of people view credit cards as something for nothing, but this is simply not the case at all. It’s no free money, as my daughters used to think when they were little. A credit card is just a way to get money right now so that you can pay it back later. While it might seem like a fantastic solution to all of your problems, what’s the likelihood of you being able to pay it back when the time comes, over the minimum payment? It’s a vicious cycle that you are better off never getting involved in as once you start, it’s extremely difficult to stop. This is especially true when a lot of credit card companies will up your limit without letting you know, and you think ‘oh well I must be doing okay so I can spend more’ but this isn’t necessarily true. Live within your budget if you can, and you will be just fine. 

We hope these tips are helpful to you. Now, you can see that even though managing finances can be difficult when you are a mom or dad, it can be made much easier. Sometimes, all it takes is breaking things down until they are small enough to be manageable. You don’t have to do everything at the same time, sometimes it’s taking your time and working through things at your own pace that is going to work out the best.

What is your best tips to make managing your finances easier for parents?

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retirement, gold iras, planning for your future

Like most moms, I handle the finances in our household. Lately, I’ve been focusing more and more on our future and long-term financial stability versus the instant gratification that I normally allow us.

It’s becoming increasingly more about saving for the future, the forever home we want to have our grandchildren come to visit and the family vacations we want to take. We are thinking about what we want our retirement to look like not just what we want today or tomorrow to be. We should be looking to be Independent regardless of being old. It’s time to set aside sufficient resources in order to afford ourselves home health care instead of having our kids carry that burden.

Lately, I’ve been looking at wonderful retirement homes like peachtreehillsplace.com/theterraces/ and I’m amazed how tranquil that place is. You can visit web site to know more about assisted living.

It’s always felt like we’re just ahead of the financial curve. We work hard and make good money but we are not the best at budgeting and we like to maintain a certain way of life. Sometimes we say yes, when we know we should say no to our children. When unforeseen expenses occur, it gets uncomfortable. When if we were just slightly more financially responsible or just stuck to a budget, it would all be so much easier. Staying disciplined financially is essential when we want to opt for home care during our retirement years because we don’t want our children to be paying for it.

I remember when we were first thinking of having children all those years ago, we felt like we would never be financially ready. Then someone gave me the best advice I’ve ever gotten; there is never enough money and there is never a perfect time to do anything, especially having a baby. It’s true. Children are expensive: more expensive than I ever imagined but we figured it out.

The thing no one ever tells you, as a parent is that what’s really the expense is loving them so much that you want to give them everything. It’s an innate desire of all parents to want to give their child the best and that is where excess easily creeps in and that’s when budgets fly out the window and that, my friends, is where we seem to drop the ball but that has to change.

But I do believe that with a little practicality and planning things can go a little more smoothly in life than if we continue on this road of continual instant gratification. I completely realize that you can’t take “it” with you. I don’t really believe in saving anything for a special occasion and I don’t want to spend my entire life agonizing over every single purchase I ever make but I also don’t want to find myself with no nest egg when the time for retirement comes so I’ve started looking into different ways to get retirement help.

One option that I find intriguing is a gold IRA retirement account . A gold IRA or precious metals IRA is an Individual Retirement Account in which physical gold is held in custody for the benefit of the IRA account owner. It functions the same as a regular IRA, only instead of holding paper assets, it holds physical bullion coins or bars.

Why consider holding physical gold in an Individual Retirement Account? Because, when my family’s future is at stake, I want to bet on a sure thing. I don’t want our entire retirement hinged on the state of the economy. Our future is too precious to leave to such chance so I think investing in gold IRAs is a more secure investment.

How are you saving for your future?

Disclosure: This is a compensated post but all opinions are my own.

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Have you been thinking about changing your career? Maybe thinking about rejoining the workforce. I did that very thing earlier this year; political scientist, storytelling lifestyle blogger turned preschooler pied piper. I get it. I love a good challenge.If you’ve spent a lot of your working life flitting between jobs or working in one area, choosing to retrain in something different can be a big and sometimes even scary deal!

Don’t let fear stop you from doing what you want; pursuing your passions. Honestly, there are so many benefits to going back to school when you’re older. It shouldn’t matter what your reasons are if you want to do this, then you should make it your priority.

“If you’re bored with life – you don’t get up every morning with a burning desire to do things – you don’t have enough goals – Lou Holtz”

If you are considering going back to school or changing career paths, it is never too late. There are always options available to you… no matter what your dreams are.

Stay Motivated.

While it’s true that people who choose to learn a new career or develop their skills later in life have more to lose than someone fresh out of high school. It doesn’t mean you can’t stop and change direction. It’s never too late to pivot in life. I reinvent myself all the time. Life is always moving; you can’t stay stagnant. Even if you have a family, mortgage or other commitments you need to focus on during this change. Instead of letting it stop you, use it as motivation to do and be better; the best you can.

Be positive. Sure, it might be hard but it will be worth it. Focus on the benefits your new changes will give you and your family. The result will be worth it in the long run.

Clear Goals.

Most people don’t really know what they want to do when they go to college. Heading back to school at a later stage in life gives you the chance to know exactly why you are and have the focus and drive to stick the course.

Heading back to the classroom now, whether physical or virtual, could well be the best time for you. So go ahead, embark on a new career completely or branch out into a different area in the same field. You may find that you are more driven, focussed and determined now to reach your goals than younger you were!

Life Experience.

Are you worried you don’t have all the relevant experience for your new career? Instead, look at what other experiences you can draw on. There is a lot to be said about having life skills under your belt.

Don’t underestimate all you have learned so far in life. Look at ways you can work with what you know and have already learned. Look at how you can apply it to your new goal.

Skills such as;

  • Timekeeping
  • Interacting with other people,
  • Budgeting from dealing with household finances,
  • Managing schedules eg, juggling after-school activities.

These are all valuable qualities that a lot of employers look for.

So don’t worry about your life or even your age being detrimental to reaching your goals. Whether this is a new dream or goals just not yet reached, hold your head high, start your new journey and show the world what you’re made of!

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As moms, we have so many responsibilities to consider these days when it comes to dealing with your money, and there are so many financial obligations you need to fulfill these days. It is so important to ensure that you are taking steps to look after your money this year. COVID-19 has hit many of us hard, and this has hurt many bank balances across the world. 

Now, there are a lot of expenses you are going to need to pay for this year, but you also need to consider the right changes to protect your finances and ease the pressure and stress of potential money worries. You have so much to consider this year when it comes to making the right financial decisions, and these are some of the key tips you can use that will help you navigate 2021.

Get Better at Saving

Saving is always the most difficult part of managing your finances, and there is a lot that you need to keep in mind with this. It is definitely possible to ensure you start saving more money, and this is certainly something that is going to help you be more comfortable financially. There are loads of ideas that you need to focus on to help with this, and being able to save money for the things that matter in life is really essential. You’re going to need to improve the way you save money, and start trying to set aside a certain amount every week or month in order to get some consistent saving and start building your bank balance back up.  

Consider a Loan

There are a lot of things that you need to think about when it comes to improving your money, and taking out a loan is definitely one of the most effective options that can help with this. There are plenty of loan options you could consider these days, and it is important to try to find one that works for you. Plenti offers a fast and simple lending process that allows borrowers to get the money they might need for emergencies, or for any outgoings they might need to cover. A loan may not be right for everyone, but it is definitely important to consider this as a way of helping you improve your financial situation. Just make sure you read and understand the terms before you commit to taking out a loan, and ensure you’re able to pay it back.  

Cut as Many Costs as You Can

Trying to cut as many costs as possible to free up money and give you more disposable, and bankable, income. There are lots of different things that you need to keep in mind when you are looking to cut costs, and one of the biggest factors to keep in mind is to look at places you might be overspending. We are all guilty of this, and you are going to need to focus on trimming these costs as much as you can. Things like reducing energy bills, spending less on groceries, and focusing only on essentials are just a few of the best ways of being able to reduce costs, and this is something you should think about trying to make the most of this year. 

Invest Your Money

Investing is a sensible use of funds in the current climate, so you need to make sure you are making the right choices for your long-term investments.

There are so many investment options you could consider when it comes to investing your funds these days, and you need to do your research with this. Whether you are choosing stocks & shares, cryptocurrency, precious metals, or other investments, you need to make sure you understand what you are investing in.

Create a Budget

Create a budget for your finances is a great way of being able to keep on top of your finances, and this is something you can start doing as soon as possible. There are a lot of factors that will help you to improve the way you manage your cash, and a budget is essential for making everything clearer and more organized. You need to know where you are spending money and the areas you can cut down on what you’re spending, and this is something that budgeting can help you with. Keeping a record of all the things you’re going to be spending is really important, and this is something that a budget can help you with. 

Mobile Banking

You have so many options to consider when it comes to taking better care of your money, and mobile banking is definitely something you should consider. Try to make use of mobile banking as much as you can, and this is one of the key things that can help you manage your accounts, check your balance, set up things like direct debits, and more. Mobile banking is an excellent way of taking better care of your money, and this is certainly something you have to keep in mind moving forward. Mobile banking is a quick, efficient, and simple way of being able to keep track of your money, what’s coming in, and what you are spending. If you want to take better care of your finances, this is definitely something to keep in mind.

There are plenty of benefits to investing in gold, silver, and other precious metals and it’s possible to get gold for a reasonable price if you do your research. Keep in mind that you need to treat any money you invest as though you aren’t going to see it again, and you should never invest money you can’t afford to lose. 

These are some of the best tips you need to consider when it comes to improving your financial decision-making. Try to make sure you do your best to boss your money and do the best you can to focus on financial freedom and independence. You’ve got to take steps to improve your money management and try to navigate this year in the most stress-free way possible. There are a lot of things that you can do to help take better care of your cash, and this is something that can help you in a big way. 

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