5 Basic Money Management Tips to Secure Your Family’s Future

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Managing your money effectively doesn’t just mean enhancing your current situation; it can also secure your family’s future. When you take steps to minimize wastefulness and boost your capital, you can transform your family’s finances and give future generations the financial support they’ll need to thrive.

Of course, knowing how to manage your money isn’t always straightforward. If you want to take control of your finances and secure your family’s future, take a look at these top tips now:

  1. Create a Household Budget

If you aren’t sure where your money goes every month, then you aren’t in control of your finances. What’s more – you’re probably spending more than you need to. By creating a household budget, you can determine exactly how much you’re spending and savings. If necessary, you can reduce your day-to-day outgoings so that you have a larger sum of money to invest in the future.

  1. Plan Your Estate

Estate planning is essential if you want to decide what happens to your finances and assets after you’re gone. You’ll need an experienced lawyer to help you draft estate planning documents, so take advantage of firms who give you the chance to ‘meet our lawyers’. By working with a lawyer, you can ensure that your home, wealth, and investments are distributed appropriately in the future.

  1. Become Debt Free

If you have outstanding debts, you can transform your finances by reducing your liabilities. Paying off debts with high-interest rates first can be a viable way of tackling financial issues, for example. Alternatively, negotiating lower interest rates with creditors or consolidating your loans could be an appropriate way for you to reduce your liabilities and save more each month.

  1. Start Investing

The right investment can increase your capital and provide you with a regular income. Of course, it’s important to recognize that the value of an investment can fall, as well as rise. By choosing an investment opportunity that matches the level of risk you’re willing to take, you can ensure that you don’t overstretch your budget. Some families are able to cater to future generations by making just one savvy investment, so it’s well worth pursuing the opportunity to invest in ‘the next big thing’.

  1. Set Realistic Goals

When you’re planning your family’s financial futures, it’s essential to have goals in mind. With realistic goals, you’ll know exactly what you’re working towards and what you need to do to get there. This gives you a clear timeline to follow and a financial plan that’s workable and realistic.

Getting Financial Advice

Planning your family’s finances requires expertise and experience, so don’t hesitate to get professional advice when you need it. With help from financial planners, lawyers, tax advisers, and investment managers, for example, you can find the right way to manage your family’s finances.

No matter what your current capital, income or budget is, financial planning can help you to make the most of what you have. By doing so, you’ll be protecting your family’s future and ensuring your loved ones have the best level of financial support you can provide.

Will 2021 Be The Year You Break Free Of Debt?

Have you got a large amount of debt? Many of us have, whether it is a mortgage, finance on a car, loans, store cards, credit cards, or something else. When you have a significant amount of debt to your name, it may feel like you will never be able to clear it. Add to that the current economic situation that many of us find ourselves in because of the ongoing COVID-19 pandemic. However, it is always possible. Sure, it will take time and probably a lot of sacrifices and changes, but it is more than doable. 

Here, we look at some of the things that you should be thinking about doing in order to make next year the year that you break free of debt.

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Add up what you owe


Before you can do anything, you need to know how much you owe and to whom. This can be the hardest step, but you can’t move forward with paying off and sorting out debts until you know this. Grab a drink, take hold of all of your bank statements and letters from creditors and all of your bills and work out what your overall total of debt is. Make a note of who it is to, and when the debt was taken out. 

This really is the most frightening bit for lots of people, and many people find that they owe more than they thought. However, if this is the case for you, do not panic. You are taking the first step towards freedom from your debts and getting them sorted out. Burying your head in the sand is the worst thing that you can do when it comes to finances – that may be what got you in this situation in the first place.

Look at how to reduce your outgoings

This is where the sacrifices that we mentioned above come into practice. If you are going to pay off your debts, you need to cut your spending. Let’s take a look at some of the things that you can cut out or reduce:

Home and shopping costs

  • Heating: Look at whether you can turn down your thermostat down, even by one degree. If it is cold, put on amn extra sweater or snuggle up under a blanket rather than immediately turning the central heating on.
  • Windows and doors: Close all of your windows when you are not in a room to keep the warmth in. Consider using draught excluders if you have cold air sneaking in under doors. 
  • Utilities: Review your utility bills – use a price comparison website to make sure that you are getting the very best deal
  • Replace all of the standard light bulbs in your lights with energy saving bulbs
  • Turn off any electrical items when you are not using them. Remember, leaving things on standby still means that they are using some electricity
  • Cancel any newspaper or magazine subscriptions and read them for free online or borrow them from your local library
  • Check your cupboards and pantries. Do you have lots of excess food that you can use instead of going to the supermarket and buying more groceries?
  • Consider writing out meal plans to avoid buying food that you do not need, and look at how you can use up leftovers
  • Look at swapping from premium brands to store brands. One way of seeing if you like it is to start with the very cheapest brand. If you like it, stick with it. If you do not like it, move up to the next cheapest brand and so on
  • Look at the loyalty schemes that you are part of and take advantage of any offers

  • Consider couponing – look online and in brochures and magazines for any coupons that would save you money on your usual shop


  • Are you paying for extras with your bank or building society for services that you no longer use or need?
  • Are you paying high overdraft charges but have money in other accounts that you could use instead?

Phone, internet and TV

  • Are you being charged for any additional services such as roaming by your cell phone company that you do not use and can cancel?
  • If you have more minutes, text messages or data on your plan than you can use, see if you can reduce your plan
  • Look at your TV subscriptions. Do you really need to be signed up to Cable, Netflix, Amazon Prime and Disney Plus? Can you cancel any?

Work and lifestyle

  • If you jump in a cab regularly to get to places, see if you can share lifts with friends or use buses or trains instead
  • Cancel that expensive gym membership and find some free workouts on YouTube to do at home or go out for a jog with a friend
  • Stop picking up a coffee on the way to work and take one from home in a flask or travel mug
  • Spend some time each night making a packed lunch or easy to grab breakfast to take to work instead of paying for something on the way or in the staff break room

Increase your income

You can only cut back your income so far. There are always things that you have to pay out to get through daily life. If you have cut back as much as possible and it still is not enough to make a significant dent in your debt, you may need to look at ways of increasing your income. Here are some ideas:

  • Make sure you are claiming any welfare or benefits that you are entitled to
  • Check to make sure that you are not paying too much tax, and claim for a tax rebate if appropriate
  • Increase your hours at work if possible or take on some overtime
  • Ask for a payrise!
  • Get a second job – if you have any useful skills such as writing or photography, look at setting up as a freelancer on the side and earning some cash in your spare time. Websites such as People Per Hour, Fiverr and UpWork are good places to start looking for gig work.
  • Look around your house – is there anything that you no longer need or want and can sell to generate some money?

Once you have increased your income as much as you can and cut back on your expenses as far as possible, you will have a much better idea of where you stand with being able to pay off any debts. 

First of all, if you are in serious debt, you may want to get in touch with Leinart Law Firm/ to see how they can help you. You should also look at the statute of limitations law. Essentially, after a particular period of time, a debt is no longer enforceable. Of course, the creditors will not tell you this and many people will continue paying debts that they are not obliged to. This varies state to state and there are conditions attached, so do your research first. 

Something else that you can consider doing is contact your creditors and negotiate with them. If you have the money available to pay off a chunk of your debt in one go, they may be willing to write off the rest of your debt. Others may halt or lower your interest rates, whether permanently or until you are in a better financial position. This is more successful if you have previously maintained a good relationship with them and have kept the lines of communication open.

If you have some savings, now may be the time you need to think about breaking into them and using them to pay off at least some of your debt. Of course, it is lovely and a wise idea to have a cushion of money to sit upon. However, if you are allowing it to sit in an account going unused and earning very little in the way of interest while you struggle with debts, it is not working well for you. You do not have to use all of it, but if you can pay off the debts that are more urgent or have a higher interest rate, you will find that in the long-term, you will be better off.

Debt can feel overwhelming. It can feel isolating and worrying, and so many people bury their heads in the sand and try to ignore it. While this may bring short term comfort, in the long run it will just create more problems which become more difficult to get under control. Take action and look at the various avenues and options available to you that so that 2021 can be the year that you finally begin to break free of debt.

Feeling Protected During These Uncertain Times: 8 Tips to Navigate the Next Lockdown

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It is undeniable that this holiday season will be a particular one. We won’t be able to take that long-haul vacation to a Caribbean destination as we had planned, and we will need to limit the number of guests invited to our Christmas dinners. With all that is happening, it is possible for anybody to feel left unprotected, fragile, and anxious. 

While these are all understandable feelings to have during these times, it is important to take action and thrive through the hard times ahead. Indeed, even if the next months seem to be bringing only challenges, there are also opportunities that are there, up for grab. Here is what you can do to feel safe and protected, so you can start focusing on your next idea!

Start a New Mindful Practice

A lot comes from within, and starting a mindful practice such as yoga or meditation can help you rediscover and explore your connection with your body and mind. These practices have been seen to be extremely helpful in reducing feelings of anxiety and stress, and they offer you a practical tool for you to use every time you feel overwhelmed by emotions. While it might take you some more time to implement them in your routine, they are a natural alternative to medical treatments – and they work instantly!

Take Up a New (and Safe) Hobby

Hobbies can help you occupy your free time in a way that is constructive and entertaining. Whether you have opted for a hobby that helps you focus your mind or for a more physical activity that allows your mind to wander, you should try to keep up your new routine! And if you have been looking for the perfect hobby to keep yourself busy during these times, there are so many that are safe, suitable for the winter times, and infinitely relaxing!

Make Sure You Always Know How to Call In an Emergency

Emergencies can happen, and they can be made even more severe by the social distancing measures and travel restrictions in place. Indeed, even if it has been normal for you to get in touch with your friends and family if something had gone wrong, now you need to have the number of a professional at hand. This is crucial to ensure that you get professional help at the moment in which you need it the most. 

Nonetheless, finding the right expert for your needs can be difficult, especially if you are about to put matters of vital importance in their hands. So, for example, researching in advance to hire a personal injury lawyer when you need it the most can help you count on the help of someone you have learned more about, and you can trust. 

Keep in Touch With Who Matters the Most

Creating solid connections with the ones around you is extremely important, especially during these times; they might not always be able to offer you the practical help you need, but they can offer emotional and psychological support. And, most of the time, this is everything you need to feel safe and protected, or it can even help you deal better with the feelings of grief you have been experiencing.

The current social distancing measures have made it incredibly hard for individuals to look after the relationships that matter the most. However, technology, this time, is on our side! So, making regular appointments with your friends for a weekly catch up or socially-distanced tea and cake can make all the difference. 

Helping Others Can Help You Feel Better

During these hard times, it is undeniable that a large group of the population might not be doing as well as others. So, deciding to help these people, providing food, drinks, and help, can give you a sense of purpose that might be difficult to find during these times. Additionally, such meaningful actions have been seen to be extremely helpful in making yourself feel happier and more at ease. Get in touch with a local charity and find out how you can safely help today!

Learn Something New Every Day

Learning something new is an extremely important aspect of our lives and can help us keep sharp and smart throughout the years. Of course, in normal times, your career, kids, responsibilities, errands, and housekeeping tasks make it almost impossible to dedicate an hour to learning something new. However, now, the lockdown has given us the chance to work from home and find a better work-life balance.

So, you can now use the time you have saved from not having to endure your daily commute to learning a new skill, piece of knowledge, or even trivia! This is also an excellent way to keep yourself sharp and exploit your passions.

Give Your Career an Interesting Turn

One of the aspects that have been worrying and stressing professionals around the world is the fact that many jobs are at risk due to the international economic situation. However, the pandemic has sped up many processes, such as remote working and managing teams through online platforms. If you have been feeling like your jobs are at risk – and you have started to worry about what you might be doing next – find out more about the opportunities that, for how slim, have been sprouting during the pandemic. You might find that there is another career path you might enjoy or another job you are better at. Explore your opportunities!

Don’t Be Intimidated to Reach Out for Professional Help.

Sometimes, the help and support we receive from the ones around us can help us feel much safer and protected. However, in some other cases, you might need to speak to a professional. While this choice has always been seen as controversial, you should not think twice about asking for an expert’s help. 

What is truly important when making this choice is researching the person you wish to consult. Indeed, while you will be able to find the support you need, it is crucial to find out whether a professional is suited for your personality and personal goals. Don’t be afraid to spend time researching and treating yourself to the best support you can find – it will pay you back in motivation and confidence to start something new!