Some people have the attitude of “well, it’s only money” which is a very enviable attitude to have. But for the most of us, we have to work hard at developing a money-saving mindset. This can be very exhausting, especially if you are struggling to get by month to month, but the one solution is to plan effectively. While you might not like the idea of mapping out every aspect of your spending, this is the one way of saving you money in the long run. How can you do this?
Planning Your Meals
One of the best ways to save money is to eliminate unnecessary expenditure on food. By taking the opportunity to plan your meals, not only are you just buying the essentials, but you can be more creative in what little items you’ve got in the fridge. You only have eggs and a courgette? Make a courgette frittata. We seem to feel now, as soon as the date is up on a certain item, that we can’t use it. Instead, by planning your meals, making the most of leftovers, and freezing certain vegetables, you are maximizing what you’ve got. And if you don’t have the time, batch cooking is an absolute lifesaver!
Structuring Your Outgoings
Credit card bills are the bane of anyone’s life, and while there are credit restoration services we can take advantage of, we need to take control of our outgoings and know exactly how much we spend. Knowing this, in comparison to how much money comes in, give us a true picture of budgeting in a proper sense. By structuring your outgoings, and looking at what is essential, and what we can actually do without, gives you more control over your money, which will give you peace of mind. When it comes to something like your energy supplier, do you know how much you’re paying, or is it automated every month? While many advice columns tell you to automate your payments to save hassle, if you don’t know exactly how much you are automating, then it can be a big shock when you finally check your bank balance. Go over your finances, and then you can make the appropriate plans, whether this involves contacting a cheaper energy supplier, or by phoning up your current supplier and discussing why your bills are so high.
Managing Your Children’s Expectations
We want the best for our kids in life, and we equate this to material goods. And while our kids face a lot of peer pressure to have the latest trainers, if we are bankrupting ourselves to ensure our children gets everything they want, what is this teaching them? They don’t understand the value of money if they get everything they want and we are constantly crippling ourselves. Instead, it might be a good idea to implement the one toy in one toy out policy, or encouraging your children to save up for something they want, so they know the value of the item.
Planning can save you money in the long run, but it’s also a worthy habit to get your kids involved with too. Once it becomes a habit, it becomes automatic.