When I was 18 I was incredibly good with money, I did not earn large but I had a mortgage, car payments and never went into an overdraft, it would seem I was not alone as statistics show 16-24 year olds are the most clued up (check out this video) when it comes to money, being internet savvy being a huge help. In fact it is my parents generation that are the most clueless and less likely to even check their bank account.
Since having some major financial problems back in 2004 I have never really got myself back on track, it isn’t like I don’t know how to, in fact I am quite money savvy, I mean my day job is running a business accounts and making sure we run to budget, but when it comes to my own finances I am burying my head in the sand.
I was interested when Satsuma asked me to take their quick quiz on how clued up I really am when it comes to finances.
I got a score of 22 – Not bad at all. We reckon you’re pretty savvy when it comes to finances. Make sure you ask for advice if you ever get stuck though. There’s so much choice and so many different providers out there. There’s plenty of places to go for information. Talk to your bank, a financial adviser, family and friends to glean as much information as you can and try reading the money/personal finance sections of the newspapers and online as they are a great source of useful information.
So I wasn’t wrong deep down I can do it, but clearly something is going wrong, money is incredibly tight now that we can only work certain hours due to Grayson’s care, in fact our outgoing are currently higher than our incoming, but I know that doesn’t mean you need to loose control, the quiz really got me thinking, we haven’t looked at our providers in years, although I constantly look at our bank account (have to love online banking) we don’t actually have a financial plan in place, I have no idea when bills are due to be paid.
So that is my plan of action, to start getting back on track and seeing where we can save money, here are my first 3 goals.
1. Write a Home Finance Planner and stick to it (some great templates on Pinterest)
2. Check out other utilities providers and compare ours
3. Write meal plans and shop to plan to try to reduce our very high food bills
Do come back as I have decided to share how I get on, getting my life back on track in all aspects is very important to me at present, finances are definitely one of the most important as I wont lie they are keeping me awake at night.