Over the years I have received plenty of tips, and the best ones are those that reflect how families interact and how we behave with money.
These top five tips are staggeringly simple, but incredibly effective – I know because I still follow them all!
- Have a budget
Okay, I know this one seems strange, but most families don’t even know where their money goes!
It’s not easy when money is so virtual. But a budget – any budget – is a step in the right direction.
To stop the money slipping through your fingers, try taking out physical cash from your pay.
Sit the family down at the table and then split it up into all the things you need. Make money real.
- Choose your money roles
Whether you are a single or double income household, have an honest conversation with your partner about who does what with the money. Successful money management requires clarity about each other’s roles and responsibilities.
Successful money management requires clarity about each other’s roles and responsibilities.
- Budget for family holidays
- Make your own lunches
- Never go grocery shopping without a list