Making Sure There Is Not Too Much Month Left At The End Of The Money
Are you like we used to be with regard to paying our monthly bills? There just did not seem to be enough money there to pay them.
The first bit of advice that we found useful is to let just one person become the money advice expert for the family. It does seem to have gone more smoothly since I took control of it and put some essential pieces in place. Picking the one who is better at math seems sensible as you want to make sure that the figures are correct to avoid that check bouncing which costs even more money then.
The first thing that I put into place was a written monthly bill organizer. You can probably get one in your local paper shop, you can create one yourself or there are plenty of web sites that will let you download one. Help with managing your money is around everywhere. You just need to search around a bit.
Right let us start to help you get your monthly bill planning in place.
Lots of families and couples find it essential to have some sort of monthly bill planner going. It should form the basis of your money management. If you have never used one, you will soon be wondering how you ever managed to manage without one.
In most households it is not simply the regular housing, utility and food bills that cause the problem, it is all the other things we see and just cannot resist getting. At least, impulse buying was the major part of our problem.
When I took sole control of our finances the second thing that I did was to set up payments online for the mortgage and necessary utilities which do make it a lot easier. Once they are created, it is easy and quick to pay them with the click of a button.
Next look back at how much you generally spend on groceries. In fact it is a good idea to prepare for this by keeping all your receipts for a couple of months first. The last thing you want is for there to not be enough money to buy food for your family in the last week before your paycheck comes in. They were never happy when that happened in our past.
Now that we have our monthly bill organizer in place that never happens.
It is probably sensible to think of the food as a weekly expense rather than a monthly one. Food does not keep very long so it is not a good idea to buy it only every month. You should only purchase what is essential and you often pay a lot more for a brand name when the supermarket’s own label is just the same.
Work out your weekly spend, then multiply it by 52 for a year and divide it by 12 to give a monthly figure to put into your bill organizer.
Then after you have managed to get the regular costs in check, plan on saving some of what is spare before you start any impulse buying.
If you think that this would be useful for you then put monthly bill organizer into your search engine and see what you come up with. You and your family will all be happier and sleep better at night.
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Money management is really important for the secure future of the family. One should always take care of emergency funds.
Twitter: HansSchoff
says:
Hey Trevor, great advice for someone looking to get started in taking control of their finances. One other bonus, it's amazing when you put pen to paper (or fingertip to mouse) and start tracking where your money is going each month how that very act will magically reduce your expenses in itself! Once you're aware of what you're doing, you consciously make an effort to spend more wisely and thus end up with more money because of it (almost without even trying)!
Hans Schoff recently posted..Creating Wealth – The Type Of Income You’re Making May Be Costing You The Most
Most people spend without giving any thought to it so, when you actually check each spend, it means more to you.
Money management is actually very essential for the secure prospect of the family. One must always take care of emergency funds.
Use of monthly bill organizer sounds great. A wise planning is really required to manage money. I will try this.Thanks for such post.