Money makes the world go around. It also provides us and our families with much-needed security and home comforts.
But, we’ve all reached that stage where we find that our money isn’t going far enough and that’s when things start to get a bit scary. So, that’s why we need to look at ways us dads can take better control of our money. It’s important to come up with ideas and tips that we can all use to our advantage. Everyone has a different approach to money and how they use it. Some people are naturally frugal, while others are a bit more vicarious.
You can use these very dad-ly ideas below to help you get a better handle on your finances and balance the books. These are all things that are going to help you take better control of the family’s financial situation.
Waste Not, Want Not
The old adage goes ‘waste not, want not’ and this is something you can introduce. You might be surprised by how much food we waste in the UK. Apparently, we throw 7 million tonnes of food away in the UK annually. And this ends up costing the average family £700 per year. This may not seem like a lot, but it’s basically free money that’s going to waste. So, try to be more economical with food waste. A great idea would be to put leftovers into containers and freeze them. That way you can build up a selection of leftovers and use them for a full meal!
Ask for Discounts
Sometimes you have to just stop worrying about whether you’re embarrassing your kids! When you’re out shopping, you should ask for discounts. So many people don’t do this, and they don’t realise it can be quite effective. If you’re buying several of the same thing why not ask for a discount? The worst they can say is no, and then you’re no worse off than you would be anyway. But, often you will find that a lot of establishments or business owners will negotiate a small discount with you. Anything is better than nothing, and every little helps these days!
You need to understand what it takes to become a Super Scrimper. Hey, you could even watch the programme for inspiration! The best way of making savings and taking control of finances better is to scrimp more. And this means making use of as many offers, deals and coupons as possible. It means making things yourself where possible, and it means initiating ideas like Secret Santa. All of these will save the pennies and free up a bit more disposable income.
Taking control of your money is no mean feat, and we can often get snowed under with bills and such. That’s why it’s always advisable to get some financial help where possible. So, a lot of dads choose to hire an accountant to take care of their financial affairs. This is an important step on the road to look in after your family, and keeping your money in check. There are so many benefits to hiring an accountant, so you need to make sure you seriously consider this. It’s especially important if you are self-employed because you’ll need to sort out tax issues.
Supplement Your Pension
If you have been shrewd, you’ll be saving for a pension at the moment. And that means you’ve got some money to fall back on in later life. But, you may decide that it’s not enough and that you need to supplement that pension. You may also want to look into making more savings as well. So, how are you going to supplement your pension with more money? Well, one of the best ways of doing this is to take on more work. If you can work extra hours, take on more clients, or get a second job, you’ll be able to do this. It may also be worth considering selling unwanted possessions. Something like a car boot sale would be a good way of getting rid of stuff you don’t want, and making a bit more money in the process.
Dads are definitely diligent when it comes to cash these days, and quite rightly. We have to understand that money matters, and it matters even more when you have mouths to feed. So many families these days are struggling to make ends meet on a monthly basis. That’s why, as fathers, we all have to look at how we can be more frugal, and take better control of our financial situations.