Six ways to help you manage money worries
They can sneak up on anyone, and often, trying to hide away from them can keep you awake at night. So don’t let the budgeting bogeymen win. Here are six simple ways to keep your finances feeling a little less frightening.
Start small
Spooky season or not, big decisions can feel like trick or treating. Will you find the door with brand name chocolate and a friendly face? Or find yourself knocking on an empty door and leaving empty handed? So, start small. Saving little and often is great way to build good savings habits and get your savings pot growing. Remember, small steps can make a big difference over time.
Set achievable goals
Uncertainty can be a big financial fear. So, keep those skeletons firmly out of the closet and make sure you know what you’re working towards.
Set clear, realistic goals, like saving towards an emergency fund to buffer unexpected expenses or a pot for Christmas gifts. Hitting smaller milestones can help you stay motivated and in control.
Face the ‘Budgeting Bogeymen’
Budgeting often gets a bad name, but it doesn’t have to be boring or complicated. Understanding where your money goes can help you make better choices and worry less. Try tracking your spending for a month using a simple spreadsheet or app. You may be surprised how much peace of mind this brings (and make budgeting a little more fun).
Keep a close eye on the basics
Money worries tend to grow in the dark. Regular check-ins, once a week or even once a month, can help you stay on top of your progress and make changes before problems creep in. A little financial health check can stop your budget going bump in the night.
Watch out for your wellbeing
Worries and stress can affect your sleep, mood, and confidence. If things start to feel overwhelming, take time to focus on your wellbeing too.
From a change in circumstance, to dealing with the cost of living, having the right information and support can make all the difference. Visit our help hub for guidance and tools to help you manage both your money and your mindset.
Take away the ta-Boo!
Money is still a taboo subject for many people, but it doesn’t need to be. Whether it’s chatting with family or checking in with friends, opening up can help you feel less alone. Like most things, starting is the hardest part, but once you have these conversations, it will only get easier and can make a real difference to how you feel about money.
Now you know the tricks, so here are some treats
Money doesn’t have to be scary. With small, regular steps and a clear plan, you can turn those ‘Saving Scaries’ into something manageable.
Opening an Easy Access savings account can be a flexible way to get your savings journey started. With a Hodge Easy Access savings account, you can deposit and withdraw your money as and when you need to – as long as your balance stays between £1 and £250,000. It’s a simple and secure way to save at your own pace, no string attached. Find out more: https://hodgebank.co.uk/savings/easy-access/
To help you get started, here’s a treat full of resources to get you on the way:
- Quiz yourself to see how money savvy you already are
- Stress test your emergency fund to see if you’re saving the right amount
- Budgeting plans to suit you
- Understanding Money Dysmorphia and your Money Mindset
This article is correct at time of publishing and for general information purposes only. We recommend you speak to a professional financial adviser for advice. You can find a financial adviser and further personal finance information at https://www.unbiased.co.uk/