Getting Serious About Saving My Family Money

Blog Image for article Getting Serious About Saving My Family Money

We all want to achieve financial freedom, but it can be difficult to save money, especially when you're living on a family budget. Paying your regular expenses such as mortgage, electricity bills, school fees, grocery bill, etc. can make it hard to stick to your savings goals.

Building wealth has to start somewhere and our reader, Agnes has reached out to ask Ben about how families, particularly those limited on a Visa can begin with saving money.

Ben makes some pretty good points and might make a few of us shuffle in our seats with his personal advice and money-saving tips to help you achieve financial security and to his credit, they're valid! 

Check out what he has to say.

Key call outs. 

Look at your numbers

Laying out all of your spending to see where all your money is going and looking at the opportunities there are for you and your family to save can help a lot in your money management and financial well-being. There are a couple of places to start: 

  • Compare necessary expenses. Insurances, utilities, and other providers can help you save. It might not be mind-blowing but it all helps, and any saving is good saving! 
  • Uncomfortable discussions. Look at your discretionary expenses. We spend so much every day on things less planned – food, coffee and carving out the expenses can make a very big difference. If you're serious about it, the more honest you can be about your spending habits, the more you will save!

 

It is periods like this that people who build serious wealth generally build a lot of their wealth so not all hope is lost. It's simple but not easy. Once you see the results, you will be thankful for getting uncomfortable. 

Thanks to Agnes for sending in her question. Ben can answer your financial question too, just pop in a quick form for us to submit. 

Ben Nash. Financial Adviser and the founder of Pivot Wealth, helping people invest smarter so they can create a life not limited by money.

He runs regular live online events which you can check out here. | Follow Ben on TikTokLinkedinInstagramFacebook

Pre-order Ben's book, ‘Replace your salary by investing' today!

Disclaimer: The information contained in this article is general financial advice in nature and does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your personal circumstances before acting on it, and where appropriate, seek professional advice from a finance professional.

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