Money stuff is easy to shove to the bottom of your to-do list. It’s rarely urgent—until it suddenly is. You lose your job, your car breaks down, or you get hit with some massive bill you didn’t see coming. That’s when you’ll wish you’d dealt with it earlier. And look, being smart with your money isn’t about having loads of it. It’s just making sure you’re not completely screwed when something goes wrong.
Build a Buffer, Even If It’s Tiny
You’ve probably heard the whole three to six months of expenses thing for an emergency fund. Which is great advice if you’ve got cash lying around- but like most of us, you probably don’t. However even a few hundred bucks makes a difference so ANY buffer is worth having. That could be a plumber paid without having to put it on a credit card, or a new washing machine if yours breaks down. It could pay for a car repair as we all know how they like to hit us out of the blue. If you can, squirrel this away somewhere you won’t accidentally spend it like a separate savings account.
Don’t Cheap Out on Insurance
Insurance might seem like a waste of money when you’re trying to reduce your outgoings, it can feel like something thats easy to cut out. Until you actually need it- then suddenly it’s everything. The mistake people make is going for the cheapest plan just to tick the box but cheap coverage can sometimes be completely useless. If you actually have to claim, you’ll get hit with massive out of pocket costs. Spend time getting this right, whether it’s health, dental, pet, home or car insurance so you have it if you need it.
Keep Your Credit in Good Shape, Even If You’re Not Using It
Check your report once or twice a year. In the US, you can get a free one from AnnualCreditReport.com. Yes it’s boring, but it’ll save you from future headaches. If you’re debt free be sure to keep at least one credit card going. Just use it for something small like Netflix or your grocery shop. Pay it off each month as this keeps your history active, which helps your score.
Know When to Call in the Pros
You’re not supposed to be an expert at everything, and sometimes it really is worth paying for help. Taxes are a big one, if you’re self employed or making extra money on the side then talk to an accountant. They’ll probably save you more than they cost by spotting deductions you’d miss. And if you ever get into an accident caused by someone else (even if it seems straightforward) it’s worth speaking to a personal injury lawyer like Bolger Law Firm. You don’t want to be stuck covering bills that aren’t your fault.
Give Your Finances a Once Over Now and Then
Every so often, give your finances a glance. Check your insurance still covers what you need and make sure you’re not bleeding money on random subscriptions. And if something feels off, change it. Your future self will thank you for it.
