At Invest Blue, you and your goals are our number one priority. We are passionate about helping people achieve their individual and family dreams. Your family goal could be a holiday, a new car, or a new home. Or perhaps your primary target is to build a strong financial plan that better allows you to manage your daily household expenses.
Whatever your goal or current expenses may be, saving is a great opportunity to bond as a family. It’s also a chance to teach your kids about the importance of saving and the rewards that come with it.
Here we have a few handy tips to make saving fun and beneficial for the whole family:
Thinking about your financial future doesn’t have to be scary. Over a nice family dinner or a relaxed afternoon, talk about your dreams and goals — both as an individual and as a family.
Encouraging your children to set goals is a healthy habit that will inspire them to dream big. Bring your current expenses into the discussion, and explain how a small contribution from everyone could help you all to achieve your goals.
Planning your goals and methods of achieving them will provide your family with a game-plan to work towards. Try breaking your overall targets down into smaller, achievable milestones, and track your progress. You may even find that a visual ‘goal chart’ on the fridge is a great way to motivate you and your children.
Establish what amount each person should contribute per week, and strive to remain consistent in this as you move forward.
Younger children might help by doing chores around the house, having shorter showers, or looking after a vegetable garden to save on groceries.
For older children who are working, encourage them to contribute financially. This will help to teach them great saving habits, a good work ethic, and responsibility as they enter the real world of adulthood.
Here are a few other basic saving tips that the whole family can help with:
Whatever individual or family goals you may have, saving towards them together can help to engender great financial habits at a young age, encourage family bonding, and ultimately help you to achieve your dreams.
What you need to know
This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. If you decide to purchase or vary a financial product, your financial adviser, Invest Blue Pty Ltd and its subsidiaries operating as Invest Blue, 1300 346 837 and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/or a percentage of either the premium you pay or the value of your investments. Please contact us if you want more information.
Invest Blue Pty Ltd (ABN 91 100 874 744) and Subsidiaries trading as Invest Blue, is an Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited, Australian Financial Services Licensee and Australian Credit Licensee.
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