The summer holidays may seem a while off yet, but believe me, that time will fly by. Then the kids will all be around and be complaining that they are bored.
That is why it is important to start thinking about the type of thing that you want to do with the family now, and as these things tend to cost money, and the sooner you know what you’re doing, the sooner you can start to squirrel some money away for family fun days. Read on to find out more.
Track your spending patterns
Tracking your spending is a great way to have a little more at the end each month to squirrel away for fun with the kids.
You can do this by using a money management app, such as the ones listed at forbes.com. These apps give you visual data, usually in the form of a graph or pie chart on how your money is being spent each month.
Tracking your spending visually can help to save money.
What this mean site is straightforward for you to see where your most significant expenses are and whether you can cut back on them in any way. Something that can help you to free up some additional money that can go into the family fun savings pot.
Next, many people struggle to save any money because most of their outgoings are spent on credit card payments. The trouble with this situation is that because credit cards charge such a high-interest rate, we tend to pay off the minimum, which then means we never get closed to clearing the original debt. This debts then keep generating interest, and we can get into a hole that is very difficult to get out of, and that makes it impossible to squirrel away any cash for other things.
Happily, there is a way out of this destructive loop and its by speaking to companies like consolidation.creditcard that can take on the debt for you. By doing this, they pay off your outstanding credit card debts, and then you pay them a monthly fee. Something that can free up more money each month, while still allowing you to clear what you owe, completely over time.
Another method you can use to generate some extra money to squirrel away in that family fun day pot is to make some investments.
There are a range of ways of doing this such as using an online app with capital that you supply, or using an account which rounds up your purchases and then allows you to invest this in a market of your choice, such as forex and crypto.
Of course, investments are risky, and you can lose as well as make money here, so do give this option some careful consideration before you jump in with both feet.
Lastly, why not go for the old classic the penny jar? People laugh at this idea and think it is silly, by pennies are real currency too, and if you save enough of them, you can accrue a decent amount.
With that in mind, invest in a large container and place it by the door so you can clear out all you small change before you leave each day. Even if you save enough with this method for one family fun day, that is still an activity that you didn’t have to do much to pay for, making it a win in my book.