My first question is – does your household have a budget? Sitting down and making some time for your financial future is an important first step. Investing a small amount of time can pay off in the long term. Using a budget template is a great start, I will post mine in our fact sheet section of the website.
1. Make your payments around your pay cycles – this helps with your cash flow.
2. To reduce the effect of large unexpected bills, make regular payments. This comes at no extra cost to you, when you receive your bill it will only be the balance of the bill due or even possibly a credit! tha’ts a nice bill to receive.
3. Pay yourself! We all need some savings, even a small amount on a frequent basis will make a difference over the long term.
4. Protect yourself – make sure you review your insurances and that you are covered in the event of loss.
5. Don’t punish yourself – a budget is about helping your household achieve goals.
Do you have a household budget?
Writen by: Barbara Mourga on April 23, 2012