Making Time for Money Management
“There’s just not enough time in the day.”
We all feel that way sometimes, right? We don’t have time to cross everything off our to-do list, we’re overwhelmed and our family is lucky to eat a frozen pizza for dinner, let alone a full, home-cooked meal.
When your schedule is full, taking care of your finances can be a challenge. However, we have a few suggestions that may make your household expenses a little easier:
Cut down on your shopping trips. Instead of dropping into the store every day to pick up a handful of forgotten items, limit yourself to one trip per week. You’ll save time because you won’t be running back and forth or standing in store lines multiple times. You’ll also likely save money because you’ll have your shopping list composed before the end of the week and can avoid impulse buys while browsing the store aisles.
Make a plan. What’s the point of saving if you don’t have a goal? Whether you want to put away enough money for retirement or just enough for that new pair of shoes, setting a goal will help you prepare for the future and may make you feel better about saying “no” to a few small things so you can say “yes” to the things you really want.
Use technology. There are many free resources online that can help you manage your money. You can do everything from create an online grocery list to download templates that help you track your weekly spending. In addition, your financial institution may offer free resources that help you keep track of your bills and account balances, which will make it easier for you to stay on track as well.
Put some money away. If you’re waiting until you have time to start an emergency fund, you may never be able to accomplish the creation of that savings safe haven. Contact your financial institution to set up automatic transfers. Then, you’ll have money waiting for you when something unexpected happens, like a vehicle breaking down or a family illness.
Value yourself and your financial contributions. You work hard for your money; far too hard to just throw it away senselessly. Take pride in your earning power, and make your money work for you. It may take a little change in perspective to get you on track financially, but looking at yourself and your earning power as assets can benefit you in the long run.
We know your plate is full and that financial issues can often be pushed to the back burner. But, taking a few shortcuts can help you build a better financial position and prepare for the future.
Information in this article is general in nature and for your consideration, not as financial advice. Please contact your own financial professionals regarding your specific needs before taking any action based upon this information.