Money matters; not only is it essential for living a comfortable life in the here and now, but it’s important to think about money in the future too. Getting yourself into a good financial position now is one of the best things you can do for stability and peace of mind. With the cost of living rising and everyone feeling the need to tighten the purse strings, here are a few things you can do.

Manage your money better

When we’re feeling the pinch financially, our first thought tends to be ‘how can I make more’ rather than ‘how can I utilise better’. While earning more money is great, the first step should be to better manage what you have. Take a look at what you’re spending, chances are there are some easy cutbacks you can make without it affecting you much. How much have you really watched Netflix or listened to Spotify over the last few months? Could you put these on pause for a while and save the money instead? Could you stop spending on food and drinks out of the house for a little while and take your own packed lunches to work and on days out with you instead to save money? Could you find a better deal on your phone bill, gym membership or other utilities?

Save more effectively

We’re all different: our situations are different, and the ways we save will all be different too. Some people will do better with small and often, maybe a set amount each week. Others might prefer to transfer a chunk to a savings account every payday. Some people might only be able to manage saving a little loose change. But whichever way you do it, try and be consistent as savings will all add up. Once you have a chunk of money you could pay off a debt, or put it towards a healthy savings buffer to protect your finances during more difficult times. It doesnt have to be time consuming or difficult, but decide on how and how much you’re realistically able to save and make it a regular thing.

Start a side hustle

This day in age, everyone should have a side hustle. If the pandemic has showed us anything, it’s that none of our jobs are as secure as we’d like to think- a side hustle gives you a source of income that you’re able to fall back on if anything happens to your day job. If you get fired, made redundant or have to stop working due to illness or a family emergency then it gives you peace of mind that you have at least some money to get you through a tough period. A side hustle can be anything you like- it could be something big like becoming a property landlord if you have an initial amount of money to invest. Find houses or apartments for sale, and let it generate you passive income- if you let an estate agent manage things for you there’s actually very little hassle to you. Side hustles can also be small, you could monetise a hobby by selling things you’ve made on Etsy, or picking up some freelance gigs on sites like Either way, having a way to earn some extra cash will both boost your earnings in the here and now and give you that financial lifeline if you need it.

Greg Kononenko
Greg Kononenko

My name is Greg Kononenko and I am a full-time online blogger and owner of Dad's Hustle. I'm a dad, and my passion is to help other mums and dads to start their own "hustle" and improve the financial future of their families.

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