Life can be so busy sometimes. Yes, it’s true, everyone has 24 hours in a day but sometimes it doesn’t feel like it. If you take into account working, running a house and the school runs it feels like there’s hardly any time at all. So how do people manage to find the time to look at their finances and make a budget which can work for them? Here are a few tips on budgeting for busy mums.
Don’t put it off
You knew this was going to be top of the list, but the first thing you need to do is make the time to look at your finances. Even when it doesn’t feel like there’s any time, if you don’t make your finances a priority, you could end up in all sorts of a pickle. It will take around 30 minutes and once it’s done you’ll feel like a huge weight is off your shoulder. So plan 30 minutes, get all your paperwork together and sit down ready to write down all your incomings and outgoings. You’ve got this.
Small Goals
When you start your budget, the aim is to usually stay on top of your finances, save money and try to stop unnecessary spending. When you start a budget it can all feel overwhelming, especially if your outgoings seem more than your incomings! So start with a small goal, it could be just to reduce your weekly shop by £5 or to save £5 a week. Don’t compare yourself to others, most people have less than £1000 in savings! Make it small and achievable so you don’t scare yourself off before you’ve started.
Be Money Savvy
A big tip when you’re starting a budget is to look at all of your outgoings to see if you can save yourself some money. Can you get a cheaper phone contract? Could you do a new insurance quote? Is there a loyalty card you haven’t signed up for? Taking the time to do these small tasks will save you money and time in the long run.
Think Payment Dates
It can be hard to budget when all your payments come out of your account on different dates. So speak to the companies you need to pay and see if you can get them all out on or near the same day. It might mean some financial changes at the start and lenders on moneymutual.com can help cover any gaps in between your new payment dates. But overall, it can make it easier to see how much money you have at the end of the month and can help ensure your bills are paid before any unnecessary spending gets in the way.
