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!


  1. 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.

  1. 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.

  1. Budget for family holidays

You have to budget for family time as well as for food and electricity.

The tough part about holidays as a family is that everyone else wants to go the same time you do. So, by planning ahead you can get to the destination you want at a price you can afford.

  1. Make your own lunches

Yes, really. If it is good enough for billionaires like Sam Walton and Warren Buffett, it’s good enough for you, too.

Whip out a couple of extra pieces of bread when you are making the kids’ lunches and do yourself a favour. Not only will you save a lot of money and time, you’ll probably eat healthier, too.

  1. Never go grocery shopping without a list

Supermarkets are living psychology laboratories designed to get you to buy more of what you don’t need.

Making a list first means if it isn’t on your list, you don’t need it and it isn’t in your trolley.

When you have a list, you focus on the paper in your hand, and your eyes – and your stomach – don’t stray into temptation.