financial control Archives - Page 45 of 55

Guilt-Free Expenses

on February 25, 2022

𝟏𝟎 𝐭𝐡𝐢𝐧𝐠𝐬 𝐲𝐨𝐮 𝐬𝐡𝐨𝐮𝐥𝐝 𝐧𝐞𝐯𝐞𝐫 𝐟𝐞𝐞𝐥 𝐠𝐮𝐢𝐥𝐭𝐲 𝐚𝐛𝐨𝐮𝐭 𝐬𝐩𝐞𝐧𝐝𝐢𝐧𝐠 𝐦𝐨𝐧𝐞𝐲 𝐨𝐧. Building wealth isn’t all about saving money. Increasing your savings while spending your money is possible, as long as you spend it on the right things. Some of the items on this list are the following: a car loan, a coffee machine, and a platinum credit card. Not the items you expected? Find out how and when these items become valuable. Check out more items from this article featuring Sort My Money’s David Rankin.

Empower Kids with Financial Literacy

on February 23, 2022

𝐍𝐨𝐰 𝐢𝐬 𝐲𝐨𝐮𝐫 𝐜𝐡𝐚𝐧𝐜𝐞 𝐭𝐨 𝐢𝐧𝐬𝐭𝐢𝐥𝐥 𝐠𝐨𝐨𝐝 𝐬𝐚𝐯𝐢𝐧𝐠 𝐡𝐚𝐛𝐢𝐭𝐬 𝐢𝐧 𝐲𝐨𝐮𝐫 𝐤𝐢𝐝𝐬. 𝐎𝐮𝐫 𝐭𝐢𝐩 𝐚𝐛𝐨𝐮𝐭 𝐠𝐞𝐭𝐭𝐢𝐧𝐠 𝐩𝐚𝐢𝐝 𝐟𝐨𝐫 𝐞𝐱𝐭𝐫𝐚 𝐰𝐨𝐫𝐤 𝐰𝐢𝐥𝐥 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮𝐫 𝐤𝐢𝐝𝐬 𝐠𝐚𝐢𝐧 𝐧𝐨𝐭 𝐣𝐮𝐬𝐭 𝐩𝐨𝐜𝐤𝐞𝐭 𝐦𝐨𝐧𝐞𝐲 𝐟𝐨𝐫 𝐜𝐡𝐨𝐫𝐞𝐬, 𝐛𝐮𝐭 𝐚𝐥𝐬𝐨 𝐢𝐧𝐝𝐞𝐩𝐞𝐧𝐝𝐞𝐧𝐜𝐞 𝐢𝐧 𝐭𝐞𝐫𝐦𝐬 𝐨𝐟 𝐟𝐢𝐧𝐚𝐧𝐜𝐞𝐬. It is important to give them a meaningful level of financial independence – even for those children who are natural spenders. The consequences of these habits – in the form of much lower savings than their siblings – will soon become apparent. By ‘feeling the burn’ now and getting used to getting rewarded for their work, they might just reform their ways […]

Try Bill Smoothing

on February 21, 2022

Infrequent utility bills can sometimes catch you off-guard. Bill smoothing involves a weekly, fortnightly, or monthly debiting by your provider. Based on historic usage, a consistent amount will be debited from your account, preventing you from making infrequent payments again. 𝙏𝙝𝙚 𝙗𝙚𝙨𝙩 𝙩𝙞𝙢𝙚 𝙛𝙤𝙧 𝙗𝙞𝙡𝙡-𝙨𝙢𝙤𝙤𝙩𝙝𝙞𝙣𝙜 𝙙𝙚𝙗𝙞𝙩𝙨 𝙩𝙤 𝙤𝙘𝙘𝙪𝙧 𝙞𝙨 𝙖𝙩 𝙡𝙚𝙖𝙨𝙩 𝙤𝙣𝙚 𝙙𝙖𝙮 𝙖𝙛𝙩𝙚𝙧 𝙥𝙖𝙮𝙙𝙖𝙮. Will you be giving this a try? If you’re already doing bill smoothing, let us know how it’s going for you. Email us at info@sortmymoney.com.au.

Be Disciplined in Spending

on February 16, 2022

𝐆𝐮𝐢𝐥𝐭-𝐟𝐫𝐞𝐞 𝐬𝐡𝐨𝐩𝐩𝐢𝐧𝐠 𝐢𝐬 𝐝𝐢𝐬𝐜𝐢𝐩𝐥𝐢𝐧𝐞𝐝 𝐬𝐩𝐞𝐧𝐝𝐢𝐧𝐠. The trick is to keep an incidentals bank account solely for discretionary and emergency spending. Often, we are told not to spend and just save everything we can, but that’s not realistic. In short, this bank account will be for all the things that make real-life just that … real. 𝙋𝙪𝙩 𝙖𝙨𝙞𝙙𝙚 𝙖 𝙗𝙪𝙙𝙜𝙚𝙩 𝙛𝙤𝙧 𝙘𝙡𝙤𝙩𝙝𝙞𝙣𝙜, 𝙨𝙝𝙤𝙚𝙨, 𝙘𝙤𝙣𝙘𝙚𝙧𝙩 𝙩𝙞𝙘𝙠𝙚𝙩𝙨, 𝙪𝙧𝙜𝙚𝙣𝙩 𝙙𝙚𝙣𝙩𝙖𝙡 𝙖𝙥𝙥𝙤𝙞𝙣𝙩𝙢𝙚𝙣𝙩𝙨, 𝙛𝙞𝙣𝙚𝙨, 𝙚𝙩𝙘., 𝙖𝙣𝙙 𝙙𝙤𝙣’𝙩 𝙨𝙥𝙚𝙣𝙙 𝙞𝙩 𝙤𝙣 𝙖𝙣𝙮𝙩𝙝𝙞𝙣𝙜 𝙚𝙡𝙨𝙚. Now it’s up to you to decide if you want to spend your discretionary fund every month or let it accumulate. Need to learn […]

Check Automated Payments Regularly

on February 9, 2022

Imagine the confusion when this mum discovered she has been paying for a $25-gaming subscription overseas. 𝐖𝐡𝐞𝐭𝐡𝐞𝐫 𝐲𝐨𝐮 𝐰𝐞𝐫𝐞 𝐨𝐧𝐜𝐞 𝐚𝐰𝐚𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞𝐬𝐞 𝐬𝐮𝐛𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐨𝐧𝐬 𝐨𝐫 𝐲𝐨𝐮 𝐝𝐨𝐧’𝐭 𝐫𝐞𝐜𝐚𝐥𝐥 𝐞𝐯𝐞𝐫 𝐞𝐧𝐫𝐨𝐥𝐥𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞𝐦, 𝐢𝐭 𝐢𝐬 𝐰𝐢𝐬𝐞 𝐭𝐨 𝐜𝐡𝐞𝐜𝐤 𝐲𝐨𝐮𝐫 𝐚𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐩𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐫𝐞𝐠𝐮𝐥𝐚𝐫𝐥𝐲 𝐚𝐧𝐝 𝐦𝐚𝐤𝐞 𝐬𝐮𝐫𝐞 𝐲𝐨𝐮 𝐚𝐫𝐞𝐧’𝐭 𝐥𝐨𝐬𝐢𝐧𝐠 𝐦𝐨𝐧𝐞𝐲. Read this mum’s take on David’s money-saving tips, and how it changed her perspective about finances.

It’s Good to be Mindful of Your Spending

on February 7, 2022

𝐓𝐡𝐢𝐬 𝐪𝐮𝐨𝐭𝐞 𝐦𝐚𝐤𝐞𝐬 𝐮𝐬 𝐠𝐢𝐠𝐠𝐥𝐞 𝐛𝐞𝐜𝐚𝐮𝐬𝐞 𝐢𝐭’𝐬 𝐭𝐫𝐮𝐞! Ever heard the tip “give it five days” before purchasing something unnecessary? It works because you are delaying gratification and actually realizing you don’t really want that item, and now you’re saved from that expense. The quote tells us that getting rich is rarely easy, but it isn’t so bad when you have discipline. Need proper financial planning? Get in touch with us at info@sortmymoney.com.au.