Budgeting

This post is sponsored by Diamond Bloggers. All opinions expressed are my own. Thank you.

When you start a family, you’ll be given different pieces of advice and financial warnings. You’ll be told that kids keep you up all night which they do. That your personal time is seriously cut down which it is. How incredible it is to have children and to love someone more than you ever thought possible. What people won’t talk to you about is the cost of having a family. That information they’ll let you figure that one out all by yourself.

Have you seen people driving around in expensive sports cars and planning luxury vacations? You can feel fairly certain those people don’t have kids. Or, if they do they have discovered the best ways to make your finances work for you when you have a family. That’s what we’re going to explore today, and we’ll start by looking at the right way to manage your budget.

Setting Up Your Big Monthly Budget

Everyone should have some sort of budget that they stick to each month or year. It will help ensure that you don’t spend more than you should and that you are able to keep those costs under complete control.

With a budget, it’s also possible to make sure that you have money in savings and that’s important. Most young couples don’t even have a thousand in savings, and that means they have no money at all for unexpected costs such as the potential bills they might have to pay. So, how do you set up your family budget the right way?

Well, you need to think about all the money you make. Include everything in this sum such as side hustles and investments. We’re going to look at both these options a little further down. Now that you have your total you need to look at your outgoings.

If you’re not sure of this, take a peek at your monthly statements. Look for patterns to give you an idea of what typically leaves your account each month. This will include food bills, energy bills, gas for the car and the list goes on.

When you’ve noticed and confirmed these patterns try and find cheaper ways to live your daily life without affecting your lifestyle. It can include anything from your bank charges, insurance, transportation cost. You can even go as far as getting cheaper energy rates. It will make your expenses more manageable and help you manage your finances better.

Once you have a substantial list subtract them all. Now, take a third of the total and mark that as savings. What you have left is roughly the amount you have to spend on luxuries, unexpected costs, and little things for your kids. It should be a fairly substantial amount, and that probably makes you wonder where your money goes. You definitely don’t have that much left at the end of the month do you?

Stop Overspending

It’s so easy to overspend and let’s look at the food shop as an example. By looking at your statements, you should be able to see how much on average you spend on your food each month. You want to work to cut this down as much as possible, and it’s easy to do.

One of the best ways to reduce your monthly food shop is to not be a slave for brands. We all have our favorites brands, but when you take a good hard look, you’ll see they aren’t really special at all. Offering more or less the same and when you realize that you’ll be able to look for the cheapest one every time you shop. Then, you can think about looking at vouchers and coupons online.

There are plenty of sites online like Coupons.com that provide great deals for parents looking for cheap deals on products that they buy regularly or even every time they head to the superstore.

Of course, food shopping is just one of the areas that you might be overspending where costs can be easily adjustable. Another example would be your energy bills. If you have a home full of kids then you might find it’s difficult to keep the energy bills under control.

That’s particularly true when you think about the amount of technology that you are probably using on a regular basis in your home. If you have teenagers, it’s possible that there’s a TV in each room along with a games console or computer. How do you keep the electric costs down when we’re all this tech orientated?

Well, you should be checking out the tech you purchase carefully. All tech on the market today has energy ratings. If you want to keep your energy bills low, you just need to make sure you’re buying tech with the best ratings on the market. In no time at all, you’ll find your bills are reduced down to size.

You might also want to think about getting a smart meter. With a smart meter, you’ll be able to find out exactly what is costing you the most money. That way you can replace it or take more control over how much that device is being used. But be careful of false economy saves.

For instance, if the dryer is costing you more money, don’t stuff it with clothes for fewer cycles. Ultimately, this will just lead to you needing to put it on, again and again, to get clothes dry anyway.

End Fixed Cost Payments

What about the costs in your budget that are fixed? Are there ways to reduce these such as car insurance or even medical plans? Both will be essential for a family to guarantee that you have the resources needed to protect and take care of your children. The answer is that you can reduce these costs.

All you need to do is use price comparison sites. This will help you find the best deal each time you get the chance to renew these plans. For instance, you can use Gomedigap for more info on the best Medicare insurance companies to guarantee that you do get the greatest deal for your money every time. It’s important that you look at this coverage carefully to get the best savings and everything you need for your family.

Boost Your Budget

If when you look at your total that you have to spend at the end of the month, it’s less than you’d like there are ways to boost your earnings. Investments are a smart choice here, and the basic option would be a savers account that provides a high level of interest. That way a little money will be added without you even needing to try. You can look at the best savings accounts on NerdWallet.com.

Or, how about a side hustle. There are lots of choices here including working at home. When you look into these, you’ll find that the market is wide open and there are lots of available opportunities to help you make more money.

Debt Consolidation services with Trout Associates

Sometimes the best way to better your family finances at home can be with debt consolidation services. Financial services strategies to help families with their finances by paying off one or more lines of credit in exchange for a loan that’s better suited to complement your financial goals.

Reasons to consolidate debt include allowing families to be able to more easily pay off your credit card balances with a personal loan that could help you save on interest, increase your credit score and change your debt from revolving to installment debt, among other benefits. Revolving debt in the form of debt that many credit cards use. Most consumer credit cards are categorized as revolving credit, and the amount you use has a considerable effect on your utilization ratio and credit score. Using consolidation services, families can more quickly pay off these sums in order to better their financial situations at home.

Debt collection services, such as from Pacific Collection Group, can also help businesses ensure that borrowers more quickly pay down installment debt, such as a mortgage, auto loan or student loan. By paying off your debt with a personal loan and moving your balance to a consolidated payment, families could see an increase in your score and the payment plan could help you get out of debt for good. Consolidation services can also help consumers to lower monthly payments and shorten payment terms as well. By moving all of your unsecured debt onto a personal loan, you’ll only have a single payment to make each month.

Although consolidating debt isn’t the right option for everyone and all situations, it could significantly improve your finances when it does make sense. Get started by doing your research. find out with consolidation services you may qualify for.

In order to see if your family qualifies for consolidation services, be sure to have information on-hand including the balances and rates on your credit cards so you can compare your current rates to your new options. You should also check your current debt interest rates and decide how much you want to consolidate. You don’t have to consolidate all of your cards for the convenience of a single payment. However, if all of your cards have a higher rate than your new offers, you may be able to save by combining them all. When choosing your amount, remember to check the origination fee on your loan.

With this information in mind, you can apply for consolidation services and options you like, finishing the last steps of your process is simple: after you’ve applied for the loan you desire, just verify your info and sign your loan! Once your loan is signed, you can receive your money sometimes as soon as the same day.

If you think you meet the minimum qualifications and want to pay off your credit cards or other high-interest debt, you can get started and see your options, such as with Trout Associates consolidation services.

Friends, while family finances generally no picnic, utilizing the tips listed above can help make your finances easier to manage this season at home. And if you have any tips for bettering family finances yourself, feel free to leave those suggestions in the comments below. 

Think about how many luxuries are in your life at the minute. It’s so easy to think that we don’t have much in life but if you think about all that we have compared to other people, it’s a hell of a lot. We like to envy those around us because of the things they’re able to flaunt but forget that the things we have in our life now we used to wish for so bad. A happy relationship, a job earning sufficient money even if it’s not riches, a house, perhaps even a dog and a family. So you see, even though we know it’s easy to rush around and stress as an adult, you have more in your life than you think.

As adults, it’s so easy to feel hard done by because we’re not rolling in money, but think about how many luxuries you buy each month before you put money into the things that you really need. It’s funny because as adults we’re usually so focused on payments going out of our bank account, and we put off simple responsibilities because we need money for social events, or new closes, or as a just in case. So, we’re going to talk you through some of the payments adults like to miss, and how you start paying for them. 

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Your Eyes & Ears 

Your eyes and ears are going to deteriorate. Whether it’s your eyes because your sight is going, or whether it’s your hearing because you’re asking everyone to repeat themselves all of the time. Even if it’s not happening to you right now, that dreaded eye test appointment is one that many adults like to ignore because of the costs that come with it. If you have to use your glasses for low-level use, you’ll probably be one of the people putting off having your eyes retested in case the slightest change means a new set of glasses.

This can easily cost over $100 when you account for the cost of an appointment. This glasses buying guide should help you to get the best deal. It might be that you’re going for a shape or style that’s not appropriate for your price range. We know some people prefer to have a branded pair of glasses, but who is going to be able to tell the difference?! As for your ears, if your hearing is changing you do need to book an appointment with an audiologist. It may be that deterioration is not the problem, there could be an underlying medical condition that needs addressing. 

Dentist Nightmares 

If you enjoy going to the dentist then this one might not be as hard for you. But most adults have not only the fear of the dentist telling them they need some work done but the fear of the cost that comes with it. It’s enough to have drills and needles crammed into your mouth, but to pay for the torture at the end is something adults can’t bear.

This is why so many elderly people have problems with their teeth. They’re not visiting the dentist from the age of 20+ unless there’s a problem, which can lead to cavities, gum problems, fillings that turn into tooth extractions. Bite the bullet and save some money towards your dentist es. nightmares.

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Being out of work is incredibly stressful, not only do you lose part of your identity when you don’t have a job but making ends meet can become incredibly difficult. Whether you were fired, made redundant, the company went bust or you had to leave for your own reasons it’s not the nicest of scenarios to find yourself in. Here’s how you can make things a little easier until you’re back at work.

Claim what you’re entitled to

First things first would be to see what help and money you’re entitled to that you can live off until you find another job. This could be some form of benefits or welfare if you don’t have significant savings, it could even mean speaking to an injury lawyer and claiming compensation if you’re out of work because of something someone else did. Having this bit of money to get by at least allows you to make ends meet until you’re in a better financial position.

Rework your budget

Take a look at your budget and work out where you can make cutbacks. You’ll need to tighten the purse strings, so any luxuries or extras you don’t need can be cut out for the time being to allow you to use the money you have as best you can. If you’re out of work and having to claim benefits then this will likely be a lot less than you were getting before, so it’s important to use this money in the best way you can. Cancel your Netflix and Amazon Prime subscriptions, work on reducing your grocery bill and stop ordering takeaways. You don’t have to do this forever, but just until you’re earning a stable wage again. 

Speak to your creditors

Falling behind with bills and getting into debt is one of the most stressful things about being between jobs. One of the very best things you can do is make some phone calls and explain your situation. Some companies will agree to freeze your account for a few months, and others will prevent letters being sent out demanding money. At the very least, this should make things less stressful for you during a time that’s already stressful. Creditors and bill companies will be well aware that they can’t get blood out of a stone, you might be able to negotiate lower tariffs, interest rates and other things which can save you money or at least stop you from falling behind as much. 

Start a side hustle

While you’re out of work, why not start a side hustle? If you’re claiming benefits then you might be limited with the money you’re allowed to earn, but if not you can make some extra cash freelancing. Writing articles, designing logos or websites- think about the skills that you have. If you own an established blog already, you could look into ways to monetize such as by joining sponsored post websites. Anything that you can earn can be helpful when you don’t have much coming in. 

Please note: This post is sponsored by Diamond Bloggers. All opinions are my own.

Divorce. It’s a tough process. Both emotionally and financially. Especially when it comes to untangling two people’s finances at home. Which why long before the discussion of spousal or child support is awarded or your post-divorce budget is in place, you’ll need to prepare your finances for the work ahead. And because each divorce is unique, specific advice can only come from experts familiar with your case. However, the following tips should point you in the right direction.

Take all non-professional advice with a grain of salt.

It goes without saying that divorce laws vary by state, so be cautious of advice, as well-meaning as it may be, that seems to be a one-size-fits-all solution. Whether found online or received from friends. If you’re unsure of any financial, social, or familiar moves to make pre-divorce, consult with an attorney licensed in your state. They will be able to give you advice on the right first steps to make. You can also look into legal clinics in your area for similar advice as well. Qualified firms, including Huntsville AL divorce attorney. Attorneys specialized in helping to make your divorce proceedings go as smoothly as possible.

Track expenses

As soon as you know divorce is inevitable, it’s advantageous to begin the process of tracking your household income and expenses. This will not only help build a budget post-divorce, but it is also crucial for your attorney, arbitrator, and judge, during the final allocation and dissolution of combines personal assets acquired during the marriage. You should be seeking to accumulate a record of the past months, if not years. including household bills, food, clothing, entertainment, home maintenance, transportation, child care, and other notable expenditures.  And you are just beginning to track your expenses, collecting copies of bank and credit card statements to estimate spending from past years is a great place to start.

You’ll also want to consider your future expenses. Including family holiday expenses, travel costs, vacations, and household expenses, including one-time like replacing major appliances, estimates, and service calls. A good guide to follow is to use previous years’ expenses as a guide, but remember, circumstances change. Such as spending on child care, after-school activities, car insurance, and college tuition rates.

Gather documentation

While gathering copies of vital financial records will help speed up divorce finalizations. Necessary to giving others an accurate telling the story of your marriage’s financial health. Gathering these documents can be tedious and time-consuming, so start as early as possible. Documents including:

• Checking and savings account statements (within the past year)
• Retirement account statements (current statements, if contributions haven’t changed)
• Investment account statements (from the past year)
• Loan ledgers, including your mortgage, auto loans, and personal loans.
• Credit card statements
• 12-months worth of pay stubs
• Lists of assets and debts brought into the marriage.
• Lists of accumulated assets since the onset of your marriage
• 3-4 years of finished income tax returns

While gathering and requesting these documents, keep in mind that documents for any shared accounts from financial institutions or advisors can a source of shared information. In so much as financial advisors are under no obligation to keep your requests confidential. Making this information available and usable by both parties and their legal representation. And should your divorce be contested, be prepared for resistance. In amicable divorces, there is a free exchange of information, but in adversarial situations, one spouse might not release documents unless they’re legally forced to do so. Especially if one spouse controlled the household finances. If you find yourself facing such resistance, be sure to ask your attorney about court-ordered options.

Be financially prudent

While preparing for divorce, be sure to refrain from making big, long-standing financial decisions. As divorce proceedings will determine all sorts of other major financial changes. While it might be tempting to get a jump on adjusting life insurance beneficiaries, it’s often best to wait. As changes to beneficiaries, wills, retirement accounts, and the like will be sorted out during the final divorce decree. And rash changes to such items could cause judges to award your spouse instead.  Making such changes without the blessing of the court could be grounds for criminal contempt charges. So be sure to contact your attorney if you’re unsure about any proposed, long-term financial changes.

Also keep in mind, that much of the financial dissolution of a marriage depends on your state laws. As some states treat all income, assets, and debts as a single financial source. And emptying that source in the weeks and months before your divorce could be detrimental to the overall outcome of your divorce. Often there is no advantage to being the first to empty accounts. Moreover, it will often be in your best interest to remain as financially transparent with your spouse as possible.

Continue to use your accounts, both individual and joint, per your usual level of activity. If you don’t have the money set aside for hiring a divorce attorney and other related expenses, try coming to a mutual agreement with your spouse about each spending a conservative and comparable amount for mutual legal fees and expenses, and if your relationship isn’t amicable, ask your attorney about a legal separation, which would dictate how you both use the money until your divorce is finalized.

Bring on help when needed.

When it comes to getting divorced, it’s paramount to know when it’s time to seek help. This is why changing your mindset to seek out legal aid and legal assistance should be viewed as a proactive measure and not an aggressive order. Because no matter if your divorce is amicable or adversarial, dividing one’s life from another is often too weighty an ordeal for a kitchen table discussion. This is where a lawyer can help by helping you sort through the separation of your lives and finances in a more timely, civil manner.

In addition to your attorney, a certified financial analyst can offer expertise concerning your divorce’s effect will likely have on your current and future financial health. CDFAs can help you to even determine if a divorce is financially feasible, sometimes even before contacting an attorney. A licensed, qualified CDFA can also help you to judge the merits of your divorce settlement and how to best structure it.

Ensure You Are Not Left With Nothing

If you are not able to settle things amicably with your spouse, then you need to protect yourself financially. Ideally, you cannot take money from joint accounts that don’t look like usual spending. As such, you have got to ensure that you are not left with nothing if your spouse is currently trying to keep the money from you. It might be the case that you need to find another job to tide you over until this is final. We know that this isn’t fair, but you don’t want to do anything that will go against you in the divorce like emptying the joint account.

Think about starting a side hustle to keep you on your feet for a while. If you’re crafty, you can look at creating things and selling them on a platform like Etsy, just ensure that you check the Etsy seller fees first to ensure that it is worth it for you. This is money that you have earned after divorce is filed for, and keep a record of this so that they can’t come for it.

While divorce is more than simply dividing debts and liabilities, it’s also very important to talk with a financial expert and legal expert to help prepares your life as you continue on your journey in life sans marriage. So if you are considering a divorce, be sure to consider the before-mentioned financial and legal steps before filing a complaint. Steps that will help you be more prepared for the divorce process and ensure your financial needs are protected during the divorce. Because the more organized you are before filing, the easier your divorce process will be. Now I want to ask, for those contemplating divorce or are in the process of divorcing, are you currently securing your finances with any of the steps listed above? Leave your thoughts in the comments below.

Your main goal in life is to protect your family from all harm. This is why you don’t let your children ride their bicycles without first putting on helmets, and why you insist that your other half put their feet up and relax whenever they are feeling under the weather. To truly provide your family with the level of protection that they need to live happily and comfortably, however, you need to do more than just safeguard them in a physical sense. To keep your family seriously safe, you also have to protect them from a financial standpoint.

To find out how this can be achieved, be sure to read on:

Budget 

Sometimes, you will have to go without certain luxuries and amenities in your personal life if you want to ensure that your family members have everything they want and need to remain comfortable. It is for this reason that you should consider placing a budget upon your spending.

Rest assured, you can still have fun on a budget! This can be achieved by:

• Staying local and exploring your hometown
• Enjoying more nights in
• Taking cash and leaving your debit/credit card at home
• Making use of vouchers and coupons
• Booking advance tickets online
• Learning to say no

Grow an Emergency Fund

As stated by Entrepreneur, it is essential that you have an emergency fund to fall back on at all times. With a rainy day fund in place, you won’t have to worry about your family finances being stretched too thin in the event of a disaster.

To grow a fund that will not prove itself useful in unexpected emergencies, you must:

• Set yourself monthly saving goals
• Keep whatever change you are handed
• Declutter your checking account
• Pick up a supplemental income
• Save your tax refunds
• Assess and adjust your 401(k) contributions

Pay Your Bills

Paying your bills is one of the most important things that you can do in your bid to protect your family from a financial standpoint. First and foremost, staying on top of the money that you owe will allow your family to retain the standard of living that they want, deserve, and are used to. Also, keeping up with your outgoings will keep you away from the sharp end of debt, which will ultimately help you to steer clear of having your family’s worldly belongings repossessed.

Should you ever find yourself in a position where you cannot stump up enough cash to pay off a certain bill, but know you have money coming in soon, you should consider taking out a payday loan. Don’t have a great credit score? That doesn’t need to matter, as the credit broker Cash Lady can help you to secure a loan no matter what state your rating is in.

Your families are your pride and joy, which is why you would do absolutely anything to protect them from danger. To perform this all-important task, it’s essential that you do all you can to keep your family finances on track at all times.