How to keep your spending under control while still living your life

Keeping your spending under control when you have a family can seem difficult. The Australian Institute of Family studies found that even in the first year as parents, your newborn can cost you up to $13,000. And that’s not including what comes next—education, school fees and stationery, childcare and extracurricular activities, but having kids doesn’t mean you have to stop living your life. With our top tips to curb your spending habits, you’ll be able to still enjoy some of  life’s little luxuries. Put aside 20% of your weekly/fortnightly wages The first thing you do when your wage appears in your bank account is to transfer 20% into a high-yield interest account. You can use this money for when unexpected costs crop up or you want to treat the family to a fun day out or a holiday away. Try to keep enough money in case of emergencies (root canals, extra-large power bills, house repairs). Round it upSome financial institutions allow you to round up your card purchases to $1 or $5. So, when you make a purchase the extra can be transferred into your savings account or towards an eligible home loan. You’ll be surprised at how fast you can accumulate savings to spend on lunch with friends or an evening out on the town. Always plan out your meals for the week Only purchase what you need when you are grocery shopping and stick to what’s on your list. Shopping on an empty stomach or with the kids in tow can make grocery… Read More