Managing your household finances isn’t always that simple, there are plenty of factors to consider, and sometimes it feels like your outgoings just keep increasing. To give yourself the best chance, get organized with these five tips.
1 . Go green to save
To improve your family finances, it’s helpful to save money where you can. One of the easiest ways to make a few savings is to go-green. Becoming more environmentally friendly can help you to save money in many ways, including:
- Energy Provider: Choosing a green energy provider can be more cost-effective than a conventional energy provider. Solar roofing is a great long-term investment that can end up saving you money.
- Second-hand homeware items: When you’re shopping for your homeware items, buying second-hand items, can help you to make savings.
- Grow your own: Growing your own vegetables is another great way to go green and save yourself money on groceries.
- Set financial goals
When you’re looking to improve your family finances, it can be useful to set goals to stay on track. You might be looking to add to your savings, reduce your debts, or create a stricter household budget. No matter what your financial goals are, it’s important to put them down in writing. Set approximate deadlines, to help you track your progress.
- Compare your providers
To better manage your finances, it’s well worth reviewing your providers and making comparisons. Applications such as ‘Pocket Guard’, can help you to compare your providers, and find you cheaper deals. From your Internet provider to your phone tariff, there are plenty of great deals to find, if you do a little shopping around.
- Try budgeting software
Besides Pocket Guard, there are plenty of other types of financial software that can help you with your family budget. For a few more options, check out these:
- Wally: With this free budgeting application you can monitor your outgoings, make savings, and track what you earn. Using Wally you can create a budget, manage payments, and set savings goals.
- Albert: The Albert application can help you to create the perfect budget, and notify you when you spend too much. Using Albert you can monitor your progress, and work towards your savings goals. If you’re looking to get started with investing, Albert can help you to start creating your own portfolio.
Remember saving money doesn’t have to be a chore, there are plenty of fun activities for families on a budget.
- Get inspired
To improve your financial health, sometimes you need a bit of inspiration. There are plenty of tools out there that can help you to get inspired, so check out these:
- NerdWallet’s Smart Money Podcast: The Smart Money podcast has plenty of advice and tips to help you improve your family finances. Episodes discuss themes like finding the right health insurance plan; early retirement; reducing your tax bill, and more.
- Money Wisdom: In this podcast, you’ll get lots of great family finance ideas including savings, investments, budgeting, and retirement. Whether you want to learn about real estate or insurance planning, there’s plenty on offer here.
To learn even more about finances, check out finance writer, Wayne Blazejczyk.