Do you ever feel like you work and work and get no further ahead? Do conversations with your friends make you realise that you have no real safety net, and if the dog eats chocolate, the car breaks down, or you need an emergency flight across the country you’ll have to max out your credit cards…again?
Getting your finances sorted isn’t something that happens overnight. Financial freedom is the result of numerous small choices and behaviour made each and every day. While this may sound exhausting, it’s much better to take control of your finances using small steps which are achievable and can be continued than to overhaul your entire life only to give up two months later.
Here are some tips for improving your financial situation:
Be a Goal Setter
Unless you’re writing your goals down, they’re not goals. They’re fantasies. Think seriously about what you want. If you want to be able to afford a new car because your current car is a gas guzzler and keeps falling apart, make a list of all the steps you need to take to get there. Maybe you need to scope out the market or check your credit rating, or maybe you simply need to make some changes and save a little each week to make this goal achievable.
Whether you want to take the family on holiday or save for a rainy day, writing your goals down allows them to be achievable and you can see what steps you need to take to get there.
Send Money the Right way
If you know you’ll need to make an international transfer soon, you may be putting it off because you’re worried about how much you’ll need to pay in fees. Use Currency Fair instead and you’ll be able to take advantage of a much better rate, saving you cash which could go in your savings.
Make it a Family Affair
The kids don’t want to hear that mum and dad are cracking down on their spending, since that means less fun for them. But this is a great opportunity to talk to them about finances and how important it is to save money. Now is a great time to open bank accounts for your kids and teaching them to put their pocket money into their account each week.
Once they learn the importance of saving, and how they can afford a new bike if they don’t buy new toys each week, they’ll understand why you’re trying to save money as well.
Talk to Your Boss
Simply telling your boss that you’re trying to save money isn’t enough since most people believe they should be saving more. Ask if you can work remotely from home once or twice a week, which will make you more productive and save you money you’d spend on commuting. Consider reviewing your work goals and asking if you can have a pay rise, or what targets you need to meet in order to achieve a higher salary.