Finasana - All your money questions answered.
Written by Gabi Slemer, Founder.
In this article, we break down our top strategies that can change your money approach from “avoid like the plague” to “confident and in control”. And the best part? They’re actually pretty straight forward.
Money is the number one cause of stress in the UK today – ahead of work and relationships. It sounds scary – because it is for so many of us! Particularly as working mothers, finances are just one more thing on our never-ending to-do lists.
At Finasana we’re all about striking balance and reducing stress. How can we use our finances to improve our lives instead of having our finances control us?
· Plan ahead
o Whether you’re looking to add a new member to the family sometime soon or you have a full house, planning ahead is always beneficial when it comes to our finances. Planning gives us clarity, helps with goal setting, and gives us more time to prepare financially, and otherwise.
· Track your money like you’d track your new-born baby’s whereabouts
o Budgets get a bad rap – usually because we view them as the fun police. But the truth is that budgets don’t have to be prohibitive or restrictive. They can take many different forms, but at the end of the day all good budgets have one thing in common: they give you an unfiltered and objective view of your spending habits.
o Categorising your expenses will help you understand your spending habits better, and therefore control them. Tracking our expenses gives us more information. Having more information enables us to make better, mindful, and deliberate decisions about where our money goes.
· Have open conversations with your partner
o Money and relationships are generally not a pair made in heaven. But with a little bit of openness and transparency it doesn’t have to be such an awkward and difficult topic.
o Talking about money isn't always fun – but keeping quiet can be worse, especially when there are more mouths to feed than just each other’s. Talking openly about money can help us avoid adding an extra layer of financial stress to the equation.
· Strive for consistent, not perfect
o Like most things in life, consistency is key when it comes to our finances. You’re not being graded, and success means something different to each of us.
o The truth is that you don’t have to have it all figured out all of the time – very few of us ever do. When it comes to money, perfect is an unattainable target. We have to balance frugality with convenience, wealth with happiness, and perfection with good enough.
There’s no silver bullet when it comes to managing household finances. But the good news is that you don’t need to have a doctorate in finance to manage your money successfully and confidently.
You got this, and we got you! Finasana is your go-to source for all things money.
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Email gslemer@finasana.com
Website: Finasana
IG: finasana