Money makes the world go round. Or some people say, anyway. Most of us must take that saying somewhat seriously, as we spend our lives trying to either make money or save it. But, just because the most traditional ways of making money are what most people do, doesn’t mean they’re the only ways. If you’re looking to take control of your finances and top up your savings pot, maybe it’s time to think outside of the box to watch your money pile up.
When it comes to finances, the best way to manage our money is to simply take control of our spending. It sounds incredibly straightforward and almost a little pointless to mention how controlling your spending can help you save money, but let’s examine this point in greater detail. It’s not so much a strategy, but more of a mindset that you need to train yourself with so that you can make smart decisions on how and where to save money.
Some people claim that they are naturally good with money. Some people claim that they aren’t. There are a few different reasons a person might think they are/aren’t good with money. Maybe you never have enough left over at the end of the month, or alternatively, you always find yourself with enough money for everything. Let’s talk about what being good with money is really all about.
Just What is Being Good With Money Include?
For so many people, cars are an absolute necessity. These handy little inventions really have revolutionized our lives but it’s amazing how many people take them for granted. Like most things in life, the better you treat them, the better they will treat you.
Making sure your car is well looked after can save you thousands in fuel and repair bills. Even some simple steps can really make all the difference in the long run.
Too many people misjudge the importance of a thorough budget plan. Indeed, many just consider that creating a budget is an activity that is reserved for companies or affluent individuals. In truth, budgeting every dollar that you receive and spend allows you to maximize your savings and reduce your expenses. So, there is nothing wrong with sitting down and planning your costs and earnings for the week, the month or the entire year.
Saving for your very first home is a major goal of many of the women in our community. Getting a foot onto the property ladder is no mean feat. There are various hoops you have to jump through just to be considered for a mortgage, and then you have the massive deposit to think about! Being able to raise such a big chunk of money is something that puts off a lot of potential first-time buyers.
In 2016, rebuilding our savings will be a priority for our family. Personal finance is something that I strive to teach my children early so that they can, hopefully, not make many of the mistakes I made as a young adult. I believe that giving them the opportunity to make “financial whoopsies” in the safety of our home will be learning lessons that will help them make wise decisions when they are out on their own.