The Strains On Your Wallet That You Could Do Without
Finances don’t have to be a tricky thing. After all, it’s income vs. expenditure. It’s two items in a relationship, and you just need to ensure one has its head above the over. It’s not always that easy, especially when you’re running a family and the little purchases add up. Frankly, it might be that you’re not earning enough – but don’t worry. Let’s have a look at the strains on your wallet and finances and see if we can’t break them down.
Firstly, I’d advise treating your money and finances with respect. It’s far too often that someone is awarded a credit card minutes before a splurge. Treat your credit card as a safety net, not something to reward yourself with. Use it to buy small essentials that are needed – food, petrol and water. Don’t use it to buy makeup, takeaway and video games! Also – ensure your credit cards are paid off on time as the fees and interest can create a huge strain on your finances, and it’s perhaps the most common form of debt one can fall into – and it’s a vicious cycle – you spend to live, then spend on your credit card, then spend to pay off the credit card meaning you need to use the credit card to see you through to your next paycheck. You’ll never be able to build savings that way, and you’ll have no-one to blame.
A practical solution may be to buy less and/or buy smart. This might not sound amazingly attractive, but you can save some serious cash so that your family can enjoy the good times out.
Tech runs our lives, and that’s ok – but it is so darn fragile! Paying over five hundred dollars for a new phone might seem like a necessary expense, but paying for repairs at one hundred dollars a time can be costly, especially if you multiply that with a few kids. Insure and protect your phone and in the worst case take it to someone like Forever Wireless who can get it fixed up with you having to file for bankruptcy.
Be careful about subscriptions as well. It might seem awesome to organize finance deals at fifty dollars a month to go with your Netflix and Comixology subscriptions, but this adds up, and you could find yourself paying out $200 a month purely on subscriptions! Madness. Regulate and budget your money so that the small monthly subscriptions do not sneak up on you!
Think of your finances as a virtual safety net for your family. Would you tear a monthly hole in that safety net just for short-term gain? Of course, you would not. You would not even consider it if it was a physical manifestation, so why tempt it? Keep track of those small strains as they can build up to be the kindling of a humongous and utterly unenjoyable bonfire.
Tia, and TipsfromTia.com is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram