Building a strong financial foundation : Assess your spending habits

This one is for both engaged and single ladies, building a strong financial foundation tomorrow with your potential spouse means you will need to assess your spending habits. Why do I say that? because I’ve been there and I’m there. When you say I do, both your actions have to help each other and support the financial foundation of the home. A woman is known for buying things she feels are essential, while the man will see it as possibly irrelevant, that can range from clothes, beauty products to food, yes food. So let’s talk about that.

Clothe wise, men hardly buy trend items. You will probably find if he does it’s because you suggested it..lol.  As a woman, we see shop displays change, and even notice what was last on the mannequin, I can agree to some women buying trend items more for the colour or style rather than to ‘keep up with The Jones’ but if you buy to keep up with The Jones, Lady you need to ‘ASSESS’…LOL.

Beauty products can be a whole shopping list in its self now, you try to give your spouse a list of your products and price..(drops on the floor), it’s not a joke anymore and then we have our hair care and products too. I am sure he knows you spend good money on your appearance, I’m not saying you have to give the list over, but you can personally assess your spending.

Regarding food shopping, it’s not that serious, but you can look at what you spend on your food weekly, 2weekly, monthly if you leave on your own, even if you live with parents. If you live with parents it depends if you shop for the house which can be more or you buy personal items you eat. The amount will change when you start a new life, so if you have a clear idea on your essential to comfort food items, you’re sorted. Also where you shop for food is a big one, if you are moving from your area and the closest supermarket is a place you don’t shop, you may want to have food delivery or swap (it’s not lazy but can be efficient, when needed), but it’s something to think about. We also have cultural food stores, if you use them, that will be added to your list.

Casual outings, dinner dates, meet up with friends. Yes, part of the list. You don’t know a number of your bills or have finalized home furniture yet, so the sooner you note down what you spend in this area, you can keep some spare to continue your meet ups etc.

Look at what you spend and if you can make any adjustments to suit the building up of your home in future. Are everything you buy a most, need or want. To be honest, this area wasn’t fully discussed while I was engaged or in counseling,  but a personal lesson learned, and I’m still learning. our generation has changed a lot,  I think it is important to prepare for this transition too and apply wisdom accordingly.

After assessing and you think you can change a few things, you can still look fab! This is to only allow you step back and look at your finance if you haven’t already, rather than going through the flow and getting a shock after. Remember any changes can be for a short while depending on what you want to do with the spare cash.

Clothing items can be the biggest spend if not controlled. Be a person who buys what is needed and will be worn more than twice. That is more in the casual clothing context. Buying occasion wear and also be a pain, especially if you feel you have to buy on every occasion because you don’t have it prepared. Most times we don’t buy occasion dresses till the need arises, try budgeting to buy one in advance.

A wise woman builds her house, a foolish woman plucks it down with her hands. 

Invest well …

  • Save, save, save- nothing is too small to put aside. even £1 a day is £365.
  • Buy some shares in the company you work, if they are on the stock market or buy shares in another company (retail, food, travel etc).
  • Add a little extra payment to your bills so it becomes a credit to your account. i.e water bill is £60 and £10 to the payment online if you can, also with rent, you can add £50-100 which becomes credit.
  • Pay extra to your monthly car finance.
  • Buying multiple inexpensive products that you have to buy again within 2 months is not best.
  • Buying a product that may be expensive but will be used multiple times, is a good option.
  • Invest in good products for your face, hair, and clothing. You still have to look fab!
  • Buy things that can last but are cost effective, if you can make a dress, why not sew many yourself too.

Start thinking of ways to build your house tomorrow, you don’t have to wait till you move in. Start today!

God bless your journey, contact me with a question or prayer request.

Sarah

Advertisements

Published by

A Ladies Heart

A Lady after Gods heart. Encouraging and helping women on their journey of faith.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s