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It’s important to make solid financial decisions and preparations that will start and keep your family on track for a bright future. Some of the things you can do take time and research but others are everyday lifestyle changes you can make today. Take a look at the ideas listed in this post and try to put as many in place as you can over the next 6 months. Looking after your family’s financial future is crucial, and no one else will do it for you. If you have some savvy tips on preparing for your financial future, please post them in the comments!
Build that Nest Egg
If you haven’t already, start saving and building a nest egg. The financial market is turbulent at best, and that means job and business security is not guaranteed. Have some money set aside in case the worst should happen. Saving can be difficult, especially if you live pay check to pay check, but no matter what your present income is, you need to start preparing for your future. Setting money aside gives you and your family a safety net, as well give you better choices for future spending.
Start that College Fund
If you have children, then you want to look ahead to their financial needs, starting with their higher education. There are many things to think about where your kids’ future is concerned. A lot of parents set up college funds for their kids and even encourage the children to contribute to this as they get older and have an income. This is an excellent way to teach them responsibility and prepare them for their financial future. You will need to be disciplined with their college fund and make sure it’s not accessed until your child is ready for college.
Consider making some investments to set you and your family up for the future. Now, a lot of people are interested in investing but aren’t really sure how to get started. You need to be careful because many of them can be high-risk. Seek out tips and advice for professional or credible sources. For instance, if you wanted a stock tip you could get it from moneymorning.com. If you want to invest in real estate, you’d need to meet with a broker. Make sure you have all the facts before you make your decision, and never spend more than you can afford.
It’s important to be disciplined when it comes to spending money. And this is something that a lot of people seem to struggle with. How many times do we go to the store for one or two things and come back with bags full of crap we don’t need?! Stop doing this if you’re serious about being financially prepared! We do not need every new gadget, fashion trend, or membership out there! Though, that clever marketing and advertising would have us think otherwise! Cut back on that impulse buying and make sure you’re only buying essentials when you shop. This is the perfect way of ensuring that you have more disposable income left over for emergencies and the occasional treat or luxury.
Recycle and Reuse
If you have kids, one of the best things you can do is make use of hand-me-downs. This is perfect if you have two kids of the same gender. I raised 5 girls, and you better believe there was some passing on of many things, including clothes, shoes, toys, books, and even school supplies. Most of the time they didn’t mind, as long as they didn’t only get hand-me-downs. We still had regular shopping trips that allowed them to buy a few new things to express their individuality. However, we spent much less by utilizing what we already had.
We often recycled many household items and thrift store finds to create new and useful items for school, play, and entertainment. And, with resources for creative projects available on the Web, it’s so easy to find doable, easy ideas to save money and time.
Use Discounts and Coupons
The Internet has made it so easy to make use of special offers and coupons. I don’t buy anything without checking promo code sites and coupon databases. Even your local newspaper has valuable grocery coupons on a weekly basis. If you combine these with the store’s sales, you can save a bundle on food and essentials. Make it a fun game for kids to help you search for ways to save money on the things you always buy. Give them a reward for helping you save money.
Adopt Eco-Living as a Lifestyle
Introduce a greener way of living into the home. Becoming more environmentally friendly will not only benefit your health but your finances. You can save a lot of money over the long term as a result of paying attention to cleaner, more efficient ways to live. Things, like recycling and composting, are great for the environment. If you really want to save, start your own herb and vegetable garden. If you have an abundance, you can even sell your harvest at the local farmer’s market. Purchasing energy efficient appliances and setting rules for energy use are both ways to save money and help the environment. Watch your energy bills go down each month and put the savings into an account for vacation or a special event.
The point to all of this is to encourage you to do something for your financial future. Waiting will not serve you. All of this requires attention and some change…two things that trip up even the savviest of women from time to time. You’ve got this! Just take baby steps to reach your first goal. Post any questions or thoughts in the comments below. Happy financial future to you all!