Family • Wellbeing • Adventure

Wednesday 23 May 2018

6 Simple Ways of Improving Your Family's Finances

We would all like to have more money. But money doesn’t grow on trees! However, by making just a few relatively minor adjustments, it is possible to make the money you do have go even further.

Work Out Your Current Situation

Before you can begin to improve your financial situation, it will help to have an accurate picture of what our current situation is. It is worth undertaking a complete audit of your personal finances. In order to do this, you need to list all of your incomings and outgoings. Some of these might be variable, for example, the amount of money you spend on food will vary slightly each week. Therefore, to gain the most accurate picture possible, you should try tracking your spending for a couple of weeks or months.

Take Control of Your Grocery Shopping 

It is much easier to take control of your spending and to eliminate wasteful spending if you can organise and plan your grocery shopping. Of course, making plans is one thing, but actually following through and sticking to them is quite another. You will need to have a good dose of determination, and the willpower to supplement it if you are hoping to make a lasting change in your spending habits.

When you are setting yourself limits for your grocery shopping, make sure that the goals you set yourself are realistic. If you start expecting yourself to save significantly more of your money than before, this will usually require you to make a number of smaller lifestyle changes. If you go shopping earlier in the week, you will usually find that that the aisles are quieter and the shelves full; this means you have more choice and, therefore, more opportunities to save money.

Cancel Services You Don’t Need

This is one of the prime opportunities that most of us have to save a significant amount of money and reduce our monthly and annual expenditures. Most of us are signed up for several services, either because we’ve taken up a free trial and forgotten to cancel, or because we’ve just forgotten about them. It is a good idea to go through your bank statements and work out exactly which services you are paying for. In each case, investigate what type of account you hold and whether there is a cheaper, more suitable alternative.

In cases where you need the service and don’t wish to cancel, and you have been a long-term customer, it is worth asking whether there are any discounts available. If you tell a service provider that you are considering switching to a someone else, they will often offer you a better deal to retain your custom.

Avoid Buying ‘Off the Shelf’

Unless you see a really good deal in a brick and mortar store, chances are you can save yourself a considerable amount of money by shopping online. Whenever you want to buy anything, make sure that you research your options before you decide to buy from a particular supplier. There are a

number of websites out there which will aggregate the prices of particular items from various sources. As well as being able to find lower prices online, it is also easy to find digital coupons and special offers by simply searching through a standard search engine.

Once you start taking the time to research your options before committing to any purchases, you will find yourself starting to effortlessly build up your savings. All of this is in addition to the usual discounts that retailers regularly offer. For example, you can get a skater dress for a great price from IKRUSH with the cheapest one on offer at £9.99 currently if your wardrobe needs an upgrade.

Take Advantage of Reward Programs

Many companies today offer some kind of reward or loyalty scheme to their customers, in fact, most of us are signed up to at least a few of these schemes. However, participation in these schemes is low overall. Even after people have signed up to them, many never actually redeem the rewards they accumulate. When businesses offer loyalty programs, you should take advantage of them. Make sure that after you sign up, you continue to monitor your points so you can redeem them when the time is right.

Sell Your Old Clutter

We all have a tendency to accumulate items that we don’t need as time goes by. Often, when we replace an item, we don’t give much thought to what to do with it. In some cases, we throw it straight out, but often something stops us from doing this. This leads to clutter building up in the home as you accumulate more and more stuff that you don’t need. Make use of online selling websites such as eBay and make some money from your unwanted items. Taking charge of your family’s finances is the first step towards a less stressful and more financially responsible future. All it requires is a little willpower and perseverance.

K Elizabeth xoxox

*Collaborative Post

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