Financial stresses can take a toll on family life, and it can sometimes feel like an uphill struggle when trying to raise a family. However, there are ways you can improve your financial future by just making a few changes.
Talk to Someone
Don’t be afraid to speak out about your financial problems. Children need their parents’ attention, and they won’t receive that if you’re constantly worried about debts. We’ve all had money worries that have bogged us down, but that doesn’t mean we can’t get rid of them once and for all. Speak to the Citizen’s Advice Bureau for advice or Churchwood Finance who could arrange a debt management plan so you can make more affordable repayments.
Open a Savings Account
There’s always some form of unexpected bill when raising a kid. They’ll come home with a torn school shirt or have to go on an expensive trip. Whatever the cost, you should have a savings account so you have some cash to fall back on. So you won’t have to worry about the cost and your little boy or girl won’t miss out!
A Child Savings Account
We all want to provide our kids with a better financial future than our own – which is why it’s a good idea to open a child savings account. You can choose when they receive the money, and the cash could go towards future university fees, their first car or a mortgage deposit.
Learn to Say No
One look at our kids’ cute little faces and we go to mush. However, you must learn to say no in order to improve your finances. By letting them going without the latest pair of trainers or all those sweets after school, you could take them on a family holiday, creating memories that will last a lifetime. They’ll thank you in the long run.
The Value of Money
Teach your children the value of money so they will grow up to be responsible adults. Get them to wash your car for their pocket money – cutting back on the cost of a car wash service. Or allow them to take up a paper round once they’re old enough – so they can make their own money and won’t depend on pocket money.
Holiday for Less
You don’t have to go on an expensive holiday abroad to create those all-important family memories. Cut the cost in half and spend a holiday in a nearby city. Kids will love the adventure of the trip on the bus, train or car, and they’ll experience a holiday that won’t cost an arm and a leg.