Where do we actually learn to manage our finances?
Managing our finances is not something we are taught how to do in school, which is weird really. We have to learn from somewhere and the source of information we often find isn’t necessarily the best education for us long term.
We all know how much easier it is to spend than it is to SAVE money
So how can we look at managing our finances better, when our lives are all ‘go go go’?!
Keeping up with our social calendars, family obligations, and work gigs can be both exhausting and EXPENSIVE.
Not only that but If you have an ounce of generosity in you while sober, when you are drunk you find yourself doing silly things like shouting a round of drinks for absolutely everyone, which ends up being $100 more than you intended to spend.
You also often need some R&R to keep you sane after a stressful week, and we all know that doesn’t come cheap.
Treating yourself is often necessary
You may have needed a relaxation massage, some retail therapy, a treatment or even a spa weekend! Hell, you’re worth it and you deserve it! Especially while you slave away at work to reach your goals and look after everyone!
No, you don’t have to stop treating yourself altogether. What kind of life would that be?
Well, it would be no fun, and we don’t want that!
However, are some small amendments you can introduce into your weekly routine, that can really help you with your longer-term financial strategy and overall savings balance.
You don’t have to be a finance guru or budgeting genius, you can still enjoy your life and do the things you enjoy and make you happy, but armed with some tips and strategies to help make your money go that little bit further can really make a difference to you later on down the track.
Here are 5 tips to help you manage your finances better:
Have multiple bank accounts
Try having one for all your bills and the separately allocating yourself 20-25% of your wages to freely spending on clothes coffee or night’s out guilt free – But when it’s gone it’s gone! You should make sure you allocate yourself a portion of savings, however, once it’s in the savings pot, that’s where it has to stay! Once you save money that’s it! Don’t put so much in there, that you have to dip into it later on.
Give yourself a visual goal
You can name it to keep you motivated on what you are saving for like ‘dream house’ or ‘swanky car’. So if you find yourself in a position that you are tempted to reach into the ‘NO TOUCH’ account, you will see straight away that it’s for your dream house, and not for an expensive round of drinks…
Make your food ahead
You can cleverly make ahead your lunches and dinners to minimize unnecessary spending. You can do it REALLY on the cheap or just making sure it’s within a reasonable budget. Rice, pasta, and veggies are very cheap to live off, you can try rice bowls, potato salads with fish and lots of snack of fruit veggie’s and nuts throughout the days to prevent splurging on hangry pizza when it’s already too late!
Shop at a cheaper supermarket
There are so many different money saving options these days as competition ramps up within the supermarket space! Try shopping at a cheaper store (like ALDI) and see if that brings your weekly shop price down, every little bit saved can go in your dream house account, or give you a little extra for your ‘treat yourself’ pot.
Tell people about your financial goals
Letting the people around you know that you are taking steps towards your dream can be one of the most effective ways of preventing unnecessary splurges. If your work colleagues know you are saving for something special, you can ask them to pull you up if you are getting a little out of control on your lunch breaks or at the pub on a Friday!
Disclaimer: I am not providing you with personal financial advice, this is general information only and does not take in to account your personal situation. This is for informational purposes and based on opinion only