Flourish - eMag - Mar 25 - Flipbook - Page 19
How you can
control your
finances with
three simple
hacks
We’ve covered many tricky terms that, we hope, informs you on why we’re
experiencing a cost of living crisis. But empowerment is key, so we have
some helpful tips that outline how you can save money and control your
spending during the current economic climate:
Smooth those bills! Many service providers for key utilities such as
electricity, gas, and insurance offer bill smoothing. This means you can break
down your bills into manageable payments instead of being forced to pay
your bills in one lump sum, which can make it easier for you to budget.
Create a budget: We probably sound like a broken record here, but create a
budget. Identify how much money comes in each month, minus your bills –
i.e. rent or mortgage payments – and then minus living essentials, such as
groceries. Then you’ll know how much you have left to save.
Don’t go big – to begin with: Sometimes, we think we need to radically save
during economic uncertainty – which can make us highly stressed. We can
also become overwhelmed by the mounting bills on our kitchen table. So, try
starting small. Focus your energy on one area at a time. Track your spending
to see where you can reduce it. It could be as simple as substituting a named
brand item for a much cheaper home brand item in the supermarket.
Financial coaching is here with Converge
At Converge, we offer a range of services, including financial coaching. Visit
our website or the Converge App to book an appointment with one of our
financial coaching experts. We’re here to support you anytime, anywhere!
