How to manage your family’s finances

Things can truly change for the better simply by following these proven tips

08:58 27 October 2013

Recent research has proven that not less than 50% British adults (About 26 million people) are currently finding it difficult to settle their bills and lead a comfortable life. To this effect, the rates at which people seek money advice have skyrocketed over the last 6 years.

Mums can get to manage their finances by following some interesting tips which are listed below:

• Be attentive to bills such as insurance, energy, etc. and always be ready to switch to a more favourable one when required.

 

• Prioritise products in the market according to your budget. Don't search for classier purchases every time, simply shun them!

 

• Budget stores offer good quality and decent deals on a surprisingly large range of items.

 

• Plan for the finances before you want to purchase before going to the store to avoid coming short of ideas at the store.

Apart from purchasing items in the store, there are other methods of managing your finance so as not to get short of credit. They are:

• Seek advice immediately should you notice things are not going well, and don’t let the whole situation snowball on you first.

 

• Scan through your expenditures and find those unnecessary items which you’ll need to cut-off

 

• Check for cheaper deals offered by insurance companies, credit cards, energy companies and other providers

 

• Make sure your job gives you all your required benefits

No matter how difficult the struggle is, handle it by using your head. Avoid running into more credit just because you want to settle your previous debts, and ignore the temptation of trying payday loans.