There comes a point in life when everything isn’t just about you and your choices. The saying “Your choices define you” starts to scorch brightly in your mind. This is purely because at that point, you have a family – a husband, kids, in-laws and all other factors that come with marriage. Being responsible for your family and all the other aspects that come with it is an overwhelming task. And handling finances, is possibly one of the most challenging parts of it. Other than the daily household expenses, it is important to factor in the needs of your children and your spouse. We understand how difficult it can be to manage the expenses that come with family life and so we thought we’d come up with a few ways to make your lives easier. If your spouse if the primary bread-winner of the house, you automatically become the Finance Manager. And a Finance Manager’s job is never easy!
Communication is key in any relationship and hence communicating with your spouse about your current financial situation is always a good idea. This will help you set ground rules with your spouse regarding expenditure and where you can cut costs. Maybe you can suggest that your spouse carpool to work with his co-workers. Not only will this help in controlling your automobile and petrol expenses, but it will also reduce your carbon footprint! At the end of the week, it’s also a good idea to look at all bills and receipts with your spouse to understand your expenditure in depth. It is also recommended that you use your sodexos wisely in order to trim costs from your household expenditure. A lot of grocery stores offer coupons or discount deals which are often beneficial if you’re looking to buy something in bulk. Remember to also look out for deals for household necessities or electronics on amazon.com. It may also be a good move to consider buying furniture second-hand on websites like olx.com
Since we mentioned bills, it is important to point out that most bills have a late fee and in order to avoid that, make a conscientious effort to pay your bills. Electricity is an expensive necessity and it is indeed a daunting task to keep track of all the ways in which you unknowingly add to your electricity bill. Remember to switch off all lights, bulbs, fans, air-conditioners and geysers. If you happen to be travelling at any point, make sure to clear out your fridge and turn it off to avoid an alarming electricity bill. You’d be amazed at how much electricity your fridge takes up on a daily basis!
Managing Finances is a time and energy consuming task. And as the finance manager and the home-maker of your family, the responsibility of finances ultimately falls down upon you. So take the challenge heads on and save expenses to spend on things that are truly worth it in the long run.