Good habits make it easier to be good with your finances.
What is “financial housekeeping”? Well, it’s essentially the process of keeping your finances in good order through regular attention and maintenance. A quick dusting down of your budget each week or shining up your savings with better planning and research can make all the difference to overall financial health.
Keeping your finances in good shape means you won’t have to rely on expensive doorstep cash loans or personal loans in an emergency – like your heating breaking down in the middle of winter. If you’d like to be better at financial housekeeping then here are some useful tips.
Make your finances a regular priority
Just like regular housekeeping, the financial version needs to be regularly done if you want your finances to be orderly and sparkling. Schedule in some time once a week to look over budgets and review your goals to see where you are with what you have in the bank – and what you’re trying to achieve.
Carry out a financial spring clean often
Overspending and financial waste can be curbed with a regular review and clear out of your finances. Are you paying for apps or services that you just don’t use anymore (e.g. online streaming or gaming apps)? Do you know how much you spend on coffee every week and are you eating the food that you buy or does it just end up in the bin? Go through every aspect of your financial life and assess whether it’s working and if improvements could be made.
Hesitation isn’t always helpful in life in general – except when it comes to your finances. If you’re trying to improve the way that you manage your money then a little hesitation is sometimes no bad thing. Feeling like you want to spontaneously purchase a whole new outfit or TV? Just give yourself a day or so to think about it. Looking at exotic holidays online and wondering if you could just skip a few car repayments to take advantage of a discount? Just wait 24-48 hours and then think it over again.
Regularly reassess your options
Interest rates change on a regular basis so it makes sense to review where these touch your financial life as part of routine financial housekeeping. Could you pay less for money that you’re borrowing, for example? Or is there a better product for your savings that would help you to generate more income from what you put aside?
Think about the future
When you’re committing to financial housekeeping always keep your eye on the horizon. Living in old age is becoming increasingly expensive and poverty is a very real threat for many who reach pensionable age. Do your current financial arrangements include a provision for covering the costs of living when you’re in your golden years? If not then this is a reassessment that is going to be essential for keeping your finances in order.
Stay on top of your income and outgoings
Budgeting gives you control when it comes to finances and is an essential part of financial housekeeping. Make sure you know what’s coming in every month – and that you’ve estimated your outgoings so that there are no nasty surprises or white knuckle moments.
Famous Kupino is now launched in the UK and Saving Shoppers Money
After much waiting and anticipation, the famous Kupi.cz is now launched in the United Kingdom, having already rolled out across Germany, France, Italy, the USA, Spain and South Africa.
Now you can see all the leaflets and flyers from top retailers showing the latests ranges and discounts available in store, so you can be sure you are getting the best price and bargain, and getting early warning on future promotions before anyone else.
Everything you need for your family and home
One of the great things about Kupino.co.uk is that it brings together in one place some of the major discount catalogues so you can compare them quickly and easily side by side.
Take for example the famous Lidl and Aldi catalogues that are released regularly. Because of how those budget supermarkets work, the discounts on offer are often of a short time scale which they will be available. If you are not a regular visitor to those stores, you will not be able to see what are their seasonal offerings. The really good offers often sell out on the first day of being available.
By using Kupino, you can know in advance when is the best time and date to visit the store for the best deals. You can even load up the catalogue of Bookers Makro, cash and carry giant, for comparison against those budget supermarkets to decide whether you might actually save more buying in bulk.
Save time, money, effort and the environment
It can be a chore heading to your local retail park or town centre. Loading the family into the car on a weekend to go and fight the crowds is not anyone’s idea of decent family time. You can save a lot of effort using online brochures. You can find what you want from the comfort of your own home, and then simply head into the shop, get your choices and then get out again. Perfect.
This will allow you to go and do something fun with your loved ones instead. Quality family time is so important, do not waste your time doing the mundane chores. Go out and have some fun instead.
And of course with doing the research you can save yourself a lot of money at the same time. Let us not forget you are also not wasting unnecessary paper either. Having a new catalogue or brochure every time one comes out is not exactly environmentally friendly. So save some trees and reduce your carbon footprint at the same time.
Be inspired for your home
What many of us love about catalogues, is that you can actually see the products in content. For homeware this is so important to help you visualise what the furniture might look like in your own home. It also can inspire you on more accessories that suit the theme you like, and the colours that compliment it.
Kupino allows you to do that, with brochures from IKEA, BoConcept, Homebase and others all side by side.
Of course with IKEA, unless you are lucky enough to have one in your hometown, it will often mean a bit of a road trip. You don’t want all that effort to be wasted, just to get there and find they don’t have the kind of thing you want. The same goes for many stores. You may have to travel a little to get the real bargains, and so the only way to be certain of a successful shopping trip is to take a look at the Kupino site first.
Worried About Starting a Family? Here Are a Few Financial Tips That Could Help
Anyone can start a family, but not everyone can keep their family happy.
From making residential choices to taking budgeting decisions, there are a number of things that you will need to consider on an ongoing basis if you want to ensure that the partner or the young lives you brought to this world get to live a life that they deserve.
You want to give the very best life for you and your loved ones.
For many, the concept of “managing” so many aspects not only for themselves but for a number of other people could be very daunting. This is especially true if they are transitioning from their role of being a young-adult with just their own self to care for, to someone who would have dependents of their own that will look towards them whenever they have a financial need.
As someone who went through that same experience before starting my own family, I can deeply resonate with that notion.
And when I think back, the reason behind that seems to be simple: I was afraid of managing my finances, among other things.
What if I am not able to pay the bills on time?
What if my shopping habits cannot be curbed?
What if I drive myself so deep into the ground with debt that I am not able to recover?
Who will take care of my family then?
Those questions kept me awake at night for a long, long time, before I was able tell myself that until and unless I find an answer to them, I might not be able to start a family of my own. It was from there that I went on the path of getting finances in check. Once I understood the simple basics of managing my personal finances, I knew that none of those questions mattered anymore.
While the thought of personal finance management may sound grueling, the goal itself is quiet easy to achieve especially if you know what you are doing.
By getting on top of your finances and knowing your spending and budgeting like the back of your hand, you can ensure that your family gets to live comfortably and with the kind of lifestyle you want for them.
Start by Learning About Your Credit Report
It all starts with the basics.
If you earn a decent paycheck but spend more than half of it in debt repayments each month, then you clearly need to get your affairs in order. That is where learning about your credit report and taking important actions comes into play.
Think of the credit report as the atlas to explore your financial world, or in modern terms, the Google Maps to making your way to that happening neighborhood where you have your dinner reservations. The term “credit report” gets treated like it’s rocket science, but it actually is more like a guide when you start making your way through it.
Among other things, it will tell you about your account statuses, your debt and credit ratings, and the amount you owe to your credit accounts. By keeping tabs on this information, you will be able to make informed decisions about whether to get that big screen TV for the living room, or actually put that amount towards repaying some of your pressing debts.
Strike a Balance Between Savings, Budgeting, and Spending
Once you have the idea about your loan and credit card debts and exactly where you stand in terms of your finances, you will be able to devise a plan on how exactly you can maintain the poise to manage your family’s comfort and a credit report that is not a screenplay of how you broke your back.
You can put many popular saving mechanisms in play that could help you strike that perfect balance. As something which has worked for many, including me, you can go with the 50/20/30 rule.
The 50/20/30 rule is simple yet effective, which is quite evident from the very description that it presents for itself.
From your paycheck, you allocate 50% towards your needs. These include the very things your family cannot do without. For instance, your rent money/mortgage payments, your children’s school fees, the minimum payments on your credit cards, and your loan repayments.
20% of your paycheck should be allocated towards your savings/debt repayments. For instance, if you have debt and have made the minimum repayments on it, then add more amount into a relevant account to pay off additional chunks in terms of repayment. Any amount that is saved from here should then go towards your savings.
30% of your paycheck can then be put towards your wants. These would be your desire to purchase that new phone, get that new piece of furniture for your house, or going out for movies. Since you will have a significant portion of your paycheck allocated towards this aspect of life, you can ensure to support a great lifestyle for your family.
Lookout for Impulse Decisions That Could Have a Long-Term Impact
There is no ifs, ands or buts about it, you are adulting now. You have to manage today and plan for the future too.
This means that you can no longer give in to impulse purchases. I know, I was surprised too, when I first realized this, I automatically thought about the fact that you only live once.
When you did not have a family, buying that Fendi bag or that new PS4 console could be taken with a grain of salt even when you could have spent that money on home renovations or any other purchase that would have made the quality of life better for the residents of your home.
But now that you do lead a family of your own, you have to think of your home and its inhabitants as your first priority. Before you make impulse purchases, think about how they could affect your long-term finances.
Instead, go with what you learnt from your credit report and through your preferred spending and saving techniques, and start saving up for luxury purchases. That way, you’ll not feel guilty in case an emergency expense arises for your family right after your purchase, since in that way, you would not have spent money you did not have.
Master These Techniques for a While, and You’ll Feel Confident Enough to Start Your Family
By following these few techniques, you can ensure to put yourself on a path of stellar financial management that will help you with making great decisions all the way into your future.
This would have you sleep every night with the assurance that you are on the way of building a strong foundation for your family’s comfort, which in turn would give you all the confidence in the world to take steps towards achieving that lifelong dream of having a family of your own.
Remember, keeping a family happy will always take work but it is definitely worth it.
Regaining Financial Stability After a Divorce
Have you recently divorced or are you in the process of going through a divorce? If so, it can take its toll on you both mentally and financially. If you have kids, it can be hard to get by on less money with your spouse no longer contributing and looking for ways to get your life back on track is important. Here are a few ways that you can reshape your life and get back to living your best life once again.
Acquiring a Fill-in Loan
Living paycheck to paycheck or with limited funds can be a real challenge. If you’re struggling to pay your bills and simply put food on the table for your family, you need to find a reasonable solution to the financial strain. An unforeseen emergency, for example, can set you back financially and wreak havoc on your budget. If you’ve had less than perfect credit in the past, you may not be able to access a line of credit or get approval from your local bank or credit union. One option would be to utilize a monthly installment loan. This allows you to get the funds you need quickly and with far fewer credit criteria guidelines than most traditional loans. Qualifying is a rather simple and straightforward process. Typically, you’ll need:
- A valid checking or savings account
- Verification of employment or a solid history of steady monthly income
- Proof of residency
- Monthly budget and other financial obligations
- To provide your social security number
It all begins with responsible lending. This means showing that you’ve made positive changes to improve your credit report and you’ve paid off past debt. While late payments and past bankruptcies can cause your FICO score to drop, lenders of installment loans often overlook these blemishes, as long as you’re showing that you’re working to improve your financial lifestyle. A fill-in or emergency loan to tide you over until payday is a viable solution to preventing a financial disaster.
Getting Your Credit in Check
Being a divorcee means that your credit or FICO score has likely suffered a few blows over the past few months. This could be due to miscommunication with you and your ex in regards to paying your bills on time. It’s important that you follow all of the instructions set forth in your separation or divorce agreement in regards to who is paying what bill and when. It’s important that you take responsibility for your own bills to make sure that your credit isn’t affected. If you’re trying to rebuild your credit and you need help, reach out. A credit counselor will be able to guide you on how to budget for certain bills, how to lower your monthly payments and how to deal effectively with your creditors. Now is the best time to get your credit in check, especially to ensure your children’s future. This will give you the buying power that you need to apply for a mortgage, get a new vehicle loan and extend your credit limits further.
Downsizing Your Lifestyle
Any transition in life can lead us to analyze what we have and what we should purge or get rid of. Separating from a spouse is a good time to reconsider all of your possessions. Having a garage sale and donating unwanted items to charity are the first steps in making that change. Downsizing your lifestyle and eliminating clutter can also help you process your emotions easier. Not having constant reminders from your past that include furniture and items that you shared with your spouse can help you move past those feelings and make a little cash at the same time.
Finding Ways to Supplement Your Income
Being back to one income can be hard to adjust to, especially if your ex was the main breadwinner. If you’re not able to get a raise at work or a new job right away that pays more money, you’ll have to find a way to supplement your income. This could be through a work-at-home job or starting your own business that has low overhead and high profit. Making your own crafts and investing in a t-shirt screen printing business are a couple of ways to supplement your existing income.
Moving past a divorce isn’t easy. It takes an emotional and financial toll on everyone in the family and that takes time to heal from. Utilizing several methods to rebuild your financial lifestyle can be done starting now.