For many of us, money is going to be tighter than usual for the foreseeable future. But there are some simple things you can do to help manage a little better.
For many of us, money is going to be tighter than usual for the foreseeable future. But there are some simple things you can do to help manage a little better. One good place to start is the Money Advice Service.
Set up by the government, and funded by a levy on the financial services industry, the Money Advice Service’s job is to give people free information and education on financial well-being. Everything from how to make the most of your money on a week to week basis, through to long term planning. It’s an independent source of advice and they have a very handy budget planner, which you can find here.
Here are some of the main things to do and keep in mind…
Do a retrospective.
Sit down and work out how roughly much you spend each month: household bills, essential living costs (especially food), travel and transport, social life.
Get everyone in the family involved in planning your budget together.
What might you cut back on? What’s really essential, or important to you?
Are you getting the best deals on the big outgoings, like utilities, insurance and mortgage?
Check out all the information and tips available here.
Once you know what you need to budget and plan for, HyperJar is a great tool to help you do it.
Creating and naming jars makes it easier to set budgets and stay on track. You’ll see your money – and where it’s supposed to go – visualised much more clearly than in a normal bank account. And you can share Jars with other people if you’re spending or planning together, whether that’s friends, family, or people in your community. We’ll be writing more on good, safe practice for our Shared Jars soon, and how they can be helpful when so much normal social contact is on hold.
Stay well and support each other.
The HyperJar Team