Every one struggles with financial burdens, and everyone wants financial freedom. I have had my share of ends and outs and troubles concerning our household finances from one time to another. I have found some things to be tried and true, and I will share them with you.
First of all, it is important to know what bills you have and when they are due. Take an inventory of all the bills, commitments, debts you have and store them in a safe place, recording each in a ledger. Now you can use a simple composition notebook, which is what I do at my home. I list all my bills, and what I am going to pay in columns. Yes, I do include bills such as Doctors, Dentists, and school things. I always start my balance page off with the payroll amount we get at each pay period, then I subtract as I write the expenditures, or bills that I have paid or committed to already.
I take all the bills from my overhead first thing, then I make allowances for all the extras, like shoes, new clothing, birthday gifts, groceries, etc. I budget from that list how much to spend on each extra thing. Sometimes my groceries will lack because something has come up , unexpected and I need more money for it, so I take from grocery amount. That is one area where I can make allowances and my family will not suffer.
I do extra writing at some places,for which I get paid that goes into an account other than our families account. This is where I get money to buy fast food and maybe a few items just for pleasure, like a new pocketbook, or some extra makeup. I never assume that the family funds will help me to do this.
I also use an e-pay service offered through our local bank, this will guarantee that bills get paid first, before any other thing. It is free and I love it. I can plan for weeks in advance, on paying certain bills, there is an option of repeated paying that I save for the Car payment, which is a certain time every month. Also our house payment is automatically withdrawn from our account , this saves time and worries. This has made paying bills a success for me and my family. No late charges, or trips around town to pay a bill. The bank does everything, and again, it is FREE.
I also have a jar for which I put change and dollar bills in for the week, or every time I get it. This jar serves as money for the kids lunches, and it works well. This will save you from writing a check for lunch services at school.
I have an automatic transfer each month which will transfer a certain selected amount into my savings account from my checking account. It is not very much, but it serves it purpose, and it is helping to replenish our savings balance. So maybe in a while we can take a much needed vacation, or trip. Maybe you could start one, did you know that as little as five dollars a month or weekly can add up to be a substantial amount in a year.
Allowing kids to earn some spending money. next time your kids wants something, tell them they can earn the money for it instead. By allowing your children to do service for pay you not only teach responsibility but you teach them to work for themselves and for their wants, which makes a good citizen and person. A child will be more apt to help around the house, or in the yard, if they know they are earning towards something they really want. This will in turn give you help and make money giving much easier on your wallet.
If you have medical bills, dental bills, or you owe on a loan, make sure you are paying something, at least every month. Hospitals, and others will see that in your effort to pay them, you are trying to make things right, and they will not call or harass you. This will also cut your bill down considerably, even if all you can give is ten dollars a month, you will see your amount lessen and lessen till there is no more left to pay. Make this a goal of your. Because of needed services like medical, dental, etc, you do not want to get turned into a collection service and be denied help when the time arrives.
Make sure you pay bills on time if you can, because late fees will hurt you even more. One bill I had one time charged $15 dollars each month, as charge for late payments, it killed us trying to keep ahead of that bill. Eventually it got paid, thank goodness. Charges for late payments or behind payments can add up to lots of money, money you could be saving or using towards another bill.
I hope I have helped you maybe think about something more you can do, towards gaining financial freedom or getting to a better way to pay your debts. I have kept these tips so long now, they are my system for acheiving a better financial goal.
