Making Your Financial Future Shine Brighter

Image Source

It’s sad but it’s true- money makes the world go round. We need money to eat, keep a roof over our head, clothe ourselves and buy the essential things we need to survive. Therefore as adults, one of the best skills you can learn is how to manage your money. Whether you’re dealing with a little or a lot, there are things you can do in regards to finances which will ensure you can pay your bills today and are secure in the future. Here are just a few ideas to consider.

Take Out Insurance

Taking out insurance means that if the worst were to happen, you’re covered and won’t end up out of pocket with a large bill to pay. Contents and buildings insurance will protect your home- so if you were to be burgled, come under attack by an arsonist, experience a flood or anything else that damaged your property, your insurance would cover it. If you live in a country where there’s no access to free health care, health and dental insurance are both worthwhile. If you have pets, pet insurance means if they get ill and need an operation or treatment you’re not forking out thousands. Even writing a will could be seen as an insurance policy of sorts, if the worst were to happen you’d want to make sure than your assets and wealth went to the places you wanted- you can access free will writing online or speak to a solicitor. If you take out life insurance, if you were to pass away you know they would be covered. It can feel morbid planning for things like lost jobs, death and things going wrong. But doing so is smart, if anything happens at least you’re covered and aren’t having to run up debts or borrow money.

Start a Savings Account

While insurance is good, sometimes in life when things happen you need access to cold hard cash- and fast. Having some savings in the bank as a buffer is something that everyone should be aiming to do. If you have things that you’re saving for, whether it be a new sofa, tv or holiday, have these in a separate account. Then have your main savings account for emergencies only. Maybe you’re made redundant and need money to pay your mortgage for a few months. Perhaps you get stranded abroad and need to book more flights, or something else could happen out of the blue where you need cash. If you have savings and can access this kind of money when situations crop up you will save yourself a lot of time, hassle and expense compared with having to take out new lines of credit.



One way you can prepare for leaner financial times without saving cash is by stockpiling things like food and home products. This might not be something you immediately think of when it comes to your financial future, but if a situation arises where you need to use your savings or don’t have much money, you have items already in your home to keep you going for a few weeks or months. Tins, jars, dried ingredients such as rice, pasta and grains all last for years if they’re stored properly. Building up a good selection of herbs and spices allows you to create tasty meals out of next to nothing- some tinned tomatoes, oregano, garlic and basil will make a simple tasty sauce for pasta for example. If you have a pantry or basement make use of the space, stockpile things like laundry detergent, cleaning products and toiletries too. Ideally you should have enough things on hand that you could survive for a month without having to buy any groceries.


Make Investments

When you do have extra cash in the bank, instead of leaving it sat there you could make investments. This could turn a sum of money into something much bigger, and also gives you assets you could sell off if times got difficult. Take property for example, you could become a landlord and get money every month off a tenant, but worst case scenario you could sell it and free up the funds. Since property generally appreciates in value each year, you’re almost guaranteed to get more back than what you put in. Precious metals is another example, take gold which has doubled in value in the last decade. If you’re happy to invest and wait a little longer for returns this is a good option, investments also mean you don’t have direct access to money (so cant waste it) but you can free this backup if needed.

Work From Home

Having a side hustle, a flexible job you can do from home and earn money is a great backup plan. Things like blogging for example can be very lucrative, it takes a while to get to the stage that you’re earning money but once you do your site can become a bit of a cash cow. Work during evenings, weekends or anytime you’re free and it’s extra income that could be useful if your hours are cut at your main job or you lose it altogether. On the other hand it’s just an additional source of income that you could save or use to make life a little easier. You could start a home business or do some work on some freelancing sites, there’s lots of legitimate ways to make money online these days. Just be aware of scams, if it sounds too good to be true then it probably is.

A little planning and forward thinking means that whatever situation crops up, you’re prepared for it. It means you’re not struggling month to month, and you set yourself up for a more stable financial future. Having security is always a good thing to aim for in life, so do what you can to achieve this- you may well thank yourself for it later on.


What do you do to ensure your financial future is stable?

Author: Lyndsay Fizzypeaches

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.