This is a very personal and sometimes delicate area. I’m not a financial
manager, so these are my personal ideas only…. They have worked for me, but that doesn’t mean they will work for
you, but they could be a good guideline.
A social worker maybe able to put you in touch with a professional that can help you if you need it.
Firstly, I don’t have a credit card of any sort. If you have one,
STOP using it. Aim to gradually paying it off, but don’t add any more debt
to it. I have survived several years without a credit card, although at times,
one could’ve been handy. Most stores have a lay-by system, put cloths etc
on lay-by instead of using a credit card. It actually works out cheaper, as there
are no bank fees or interest rates etc added at the end of the month.
Secondly, only purchase goods that you really ‘need’, and save for the things that you ‘want’
as a reward. I have a “wish” list, of the things I ‘want’
and gradually work towards getting one item at a time.
Next, work out how much each bill will cost you on a yearly basis, then divide the amount by 26 (assuming your income
is on a fortnightly basis). You will need to set this amount aside each fortnight
for that bill, and then when the bill is due, you should have the money to pay it.
I use BPay online to pay all my bills, and often pay the amount I’m setting aside at each fortnight, I often
find that when the bill arrives, I owe nothing, or very little, it’s also great for the credit rating. This way, I feel
in control, and I don’t get any ‘nasty’ surprises with bills.
I also plan a week’s menu, and then makeup my shopping list, going through the pantry and fridge as I do it. This way, there is very little wastage of food, and no excess buying. If you can put
approx prices next to each item on the list, you will then have an idea of how much you will expect the shopping to total.
This will allow you to trim you list before going shopping if it is going to be over your budget, and helps to stop the embarrassment
at the register. Once you have finished the shopping, if you come in under budget,
treat yourself to something, go buy a coffee and relax.
Another tip is to save all your loose coins, put them in a jar and save for a treat.
We do this and about every 2 weeks, we can afford a delivered pizza, and sometimes hire a movie too……..
that is our special treat when we have the house to ourselves each fortnight. Our ‘coin jar’ has also helped us
out of tight spots occasionally, buying bread and milk etc. Its amazing how quickly the coins addup.
