Save money

The start of any year is a great time to reflect on the year passed and look to the year ahead with renewed determination. New years resolutions have been a tradition for decades and personal finances are often at the top of the list. For those of you with financial goals in mind – well done, and I would love to give you a few pointers to assist you on your way to achieving them. For those who haven’t made any such decisions, read on and consider joining in. Research shows that people who set goals are considerably more successful than those who don’t.

Most of us already have an Idea in mind as to that we would like to achieve financially, but an idea has to be turned into a milestone that is specific, measurable, attainable, realistic, and has a time frame. That is where “S.M.A.R.T goals” come in.
S – Specific
There is no point simply setting a goal like “be richer” because there is no actual target. The more general your goal is, the harder it is to truly accomplish. To make sure that your goal is “specific” answer the 6 most famous questions: Who, What, When, Where, How and Why.
M- Measurable
Ask yourself “How will I know when I have accomplished my goal” if you have a good answer, then your goal is Measurable. Make sure that your goal indicates stepping stones so you can keep on track. The proof that you are on track with your goal will help to keep you motivated. It is a good idea to write your goal down, along with what steps you will need to take and when. That way, you can refer to it as often as you like to ensure you are on target.
A- Attainable
Is your goal really one that can be achieved? To make sure that you have set a goal that is attainable you need to look one step further and see what is required for your goal to be achieved. If there are aspects involved that are out of your control (for example, winning a large sum of money) then the goal is not an attainable one.
R- Realistic
You need to ensure that you know what it will take to achieve your goal, have the means to get there and be willing to do EXACTLY that. There is no point setting a goal that requires you to put aside $100 a week if you have no intention of acting on it.
T- Time frame
make sure that you goal is designed for a specific time frame. Having a date in mind for achieving your goal will stop you from putting it off and eventually forgetting about it. If the goal is a longer term one, it is a great idea to break the goal down into a few sub-goals that are spaced closer together and ultimately become your main goal. This will mean that you stay focused and motivated all the way through.

Once you have decided on your goal its time to write it down somewhere where is can be referred to often and progress can be tracked. An old fashioned notebook can be used for this but I really recommend signing up and using heaps! as their goal setting function is designed specifically for your financial goals.

Best of luck with all of your goals! Just remember:
A goal without a plan is just a wish
Happy New Year!

So Christmas is over for another year. I hope everyone had an amazing day and is now looking forward to a great new year!  Whilst the happy memories of Christmas are still fresh in your minds, perhaps it is time to start thinking about next Christmas and how you can make it a little less painful for your bank account.
Nothing dampens the Christmas spirit like a hefty bill waiting for you at the end of your celebrations, so here are a few tips for surviving the world’s most feared and loved day of the year.

1. Secret Santa
When there is a large number of people to buy for, a secret Santa is a great idea.  In most family and friend circles, at least half of the people involved in gift     buying will have financial concerns surrounding Christmas. By buying for one you can pour a little more into the gift without any underlying feeling of guilt.     Quality over quantity!

2. Re gift
At some point in your life you are bound to receive a gift or two that JUST isn’t right for you. Re gifting can be a touchy subject for some, but if the item in question would really be nothing more than a dust collector for you, isn’t it better  that it is passed on to a more loving home? If you are a believer in the value of re gifting, just be sure that you make a note of who got if for you so that you don’t give it back to the original purchaser (or someone close to the purchaser).

3. Keep it cheap but thoughtful.
Although we would all love to be generous to the people we love, sometimes it just isn’t practical.  No matter how great an expensive gift may be, would the person you are buying it for really love it if they knew what it meant for your bank account?  Sometimes it’s a good idea to agree on a price limit before Christmas so that there is no pressure to spend more that you can practically afford.

4. Get creative
If you have the time and ability to create a gift, then go for it.  Gifts you make yourself can cost you next to nothing but be worth a lot to someone else.  If you are good at baking, sewing, painting or making mosaics then problem solved and savings made!

5. Share the host duties
You may love the idea of hosting the whole event, It’s a great way to show people how much they mean to you, but the reality may be that you bite off more than you can comfortably chew.  Asking other people to contribute would make the task a lot less daunting and much cheaper.  Generally, most people do like being asked for help – it makes them feel valuable.  Putting someone else in charge of the salad, desert or nibbles can make all the difference.

Always keep in mind that cost is inversely proportional to time – the more time you allow yourself for preparation, the less it will end up costing you.

Starting a family is such a wonderful, emotional and exciting time. For many new parents this time can also come with quite a lot of worrying and frantic researching into the stages of pregnancy, the birth and how to raise your new born child. But how can you prepare financially? As they say, ‘children are not cheap’ and there may be many costs you have not considered.

We spoke to Stefan Korn and Scott Lancester from DIYFather about how to financially prepare for having children, as they shared their own experiences and gave us a few tips for how to prepare for those hidden costs in this new and wonderful stage of your life.

The fantastic team at DIYFather have published an ebook called Baby on a Budget made up of tips on how  to save literally thousands of dollars during pregnancy and the first year with your newborn child. DIYFather.com is an online forum that offers practical parenting information specifically aimed at dads. The site has hundreds of blog posts from a wide range of parenting including finance and budgeting. DIYFather aims to assist men to become the best fathers they can be by using stories to inspire and encourage fathers to spend time with their children. Check out more of our DIYFather videos about How to teach kids about money, How to never blow the family budget and How to do fun things on a budget.

For an easier way to manage your money, check out our free personal finance software.

Feeling stressed about finding a birthday present for a friend or family member? It’s so easy to leave it to the last minute, meaning more stress and less thought about what kind of gift you should buy. But with enough preparation, thought, and ready-bought supplies, you can give a very gratifying gift without having to spend a fortune or deal with extra hassle. Try these tips:

Keep a supply of cards on hand

Always have cards ready (this can also work for graduations, Christmas, etc.). Make sure the supply includes cards for both sexes, a wide range of ages, and many occasions. Buy in bulk at sale time – Whitcoulls usually has a half-price sale on cards during the year. And if you really want to get creative, make your own cards.

Buy it when you see it

Buying a gift doesn’t have to occur right before the actual occasion. It is not a bad idea to purchase something any time of the year if it is on sale and if you think it would make a great gift for someone you know. Not only can this save you money, but it will give you peace of mind knowing you have a stash of gifts ready to be wrapped and gifted.

The good old regift…

You can also look around your home to see if you already have something that they might like. Was there a gift you were given, or something you bought on the spur of the moment that you just don’t use? Maybe someone else will enjoy it much more than you.

Get creative

If you are really close to the person, some sort of collage, a frame with a picture from a wonderful shared memory, and other sentimental gifts can be made and purchased for pretty cheap. What about printing out photos and creating an album of your memories? Or editing video clips from your camera into a mini movie for that person? How about creating a poster full of inside jokes? Try to put yourself into their shoes, wouldn’t you love a gift that seems that much thought and effort has been put into it?”

Have you got some tips on buying presents to share?

What does fun mean to your family? Is it a day in the park, or playing the latest video game together? How much does fun cost for your family? How much do you usually spend on fun? Whatever your style, having fun with your family does not have to cost you a bundle. We chat to DIYFathers  Stefan Korn and Scott Lancester about ways you can save money and still have fun with your family.

DIYFather.com is an online forum that offers practical parenting information specifically aimed at dads. The site has hundreds of blog posts from a wide range of parenting including financial planning, money management and family budgeting. DIYFather aims to assist men to become the best fathers they can be by using stories to inspire and encourage fathers to spend time with their children.

Be sure to check out other great videos from DIYFather and heaps! such as how to  teach your child about money and tips on how to stay on top of the family budget.