Some people can initially find it quite daunting to assess their finances. However, looking after your funds doesn’t have to be difficult. There are a few basic principles of money management that, provided you follow them effectively, will mean you always have complete control of your money.

The three basic rules of effective money management are fairly obvious when you think about them. However, it’s all too easy to lose sight of how best to look after your money. There is a lot of temptation out there, so always remember to distinguish between what you need and what you want.

The things you need are the essentials of everyday life – the things you can’t do without. Anything else is just something you want. Draw the line between the two clearly and you can avoid many of the pitfalls of financial trouble. Beyond that, follow the three simple principles below and you will give yourself a good chance of getting in decent financial shape:

Live within your means

Essentially, this means that you should not spend more than you earn. Create a basic budget for living, taking into account how much money is coming in. If you always ensure that what goes out is less than that, you’re in good shape. It sounds easy and if you get into good habits, it really can be. If you develop expensive tastes or start squandering money on unnecessary items, then you could be in trouble.

Save regularly

It is important that you look after the excess that you will be left with each month. Create a new bank account for saving and get into the routine of topping it up. Having a contingency like this might come in useful in the event of a nasty surprise. At the very least, having a little nest egg always makes good financial sense.

Invest wisely

If you keep all your money in one account, then it might not be working as hard for you as it could be. Interest rates are currently very low and show few signs of increasing any time soon. If you want to see a good return on your savings, then you need to invest it wisely. There are plenty of secure schemes run by reputable financial institutions that offer great potential returns. Do your homework and seek the right advice before making any decisions and you could make your money work much harder for you.

Guest Post

Spring has sprung and summer will soon be here, so today I am discussing how to make a little extra cash to spend over the summer holidays.

Why not set yourself a deadline of the next six weeks to get your house in order and make some money from the clutter and unworn clothes that you have lying around.  Yes you can sell clothes for cash

Selling online at sites such at Preloved, Ebay or Gumtree

• Photographs are key.  So make sure your clothes are all clean, pressed and take good quality photographs of them in natural light on a plain background.  I tend to take photos on the conservatory floor or on a hanger against a white door.
• Sort the items in to groups.  ir age range, sex, seasonal.  Make a decision to sell in bundles, outfits  or are you going to list some individually
• If selling in outfits then make sure to photograph them as an outfit
• Make sure your listing has a good title - Item, gender, size, brands, condition
• Put all the information in the body of your listing.  Make this as comprehensive as possible.  There is no such thing as too much information, so size, condition, colour, measurements, age range, brand, does it have an adjustable waste.  The more information the better.
• End your sale at 7pm Wednesday or Sunday as these are the busiest times for ebay
• State whether you are willing to sell outside the UK and get postage costs for this too
• Set realistic postage costs, do not set them too high as this puts people off bidding

Selling at a car boot sale

• Presentation is key for clothes are a boot sale , so make sure are all clean and pressed.  I take a hanging rail and put the clothes on to hangers
• Set a realistic price
• Be prepared to haggle
• Take a flask and change with you!

Featured Post

As a WAHM it is essential to me that my children join in with keeping the house clean.  Not only to help me, but also to understand that we all have to do things to keep the family ticking over and for the good of our family, but cleaning is such a chore.  Now if I find it a chore I am sure they do too, so what can we do to make cleaning more fun fo0r children and to encourage them to help.

Have a quick clean up Song

By having a song for quick clean ups you are setting a time limit and a deadline.   You can encourage the children to put all their toys away before the song ends.  Also you are ingraining a habit in them. “Oh listen it is the tidy up song, so it must be time to put our toys away”.    This is a trick that is used in the boys school and also one I have used since they were tiny.

A place for everything and everything a place

Make it easy for your children to know where things belong.  Shoes belong in the shoe storage, cars in the basket with a picture of a car on the front.  We have a basket system in our play room.  When the boys were younger the front of the baskets had a picture and text on showing what went inside.  So there was a basket for playmobil, one for Duplo, one for cars, one for trains and track etc.  Create zones so that if they are reading they do in in that area and this keeps the mess separate and they do not have to get everything out.

Give them their own equipment

Both the boys had their own dusters, sweeping brush etc.  They want to copy what Mummy does so I made it easy for them, but giving them a cleaning kit each.

Use Natural products

Use cleaning products that they can use without fear of any nasties, this way you can give them the water and vinegar spray to clean the sticky fingerprints off the glass doors.

How do you help your children do chores?

Featured content

Severe weather

Extreme weather conditions and the related risk of flooding have been high on the agenda at both a regional and national level in recent years. Record levels of rainfall, thawing snow and out-dated flood defence schemes have combined to create misery for thousands of home-owners up and down the country, and it is rare for a wet spell to occur without the familiar helicopter shots of devastated streets reaching our television screens and dominating news reports. Whole swathes of the country that were previously thought to be safe from risk have had cause to be placed on alert by the Met Office, and the chances of re-occurrence show no immediate signs of diminishing. As well as the traditionally susceptible coastal and riverside areas, antiquated and poorly maintained municipal drainage systems can put previously unaffected homes in other parts of the UK at risk

Financial peril

Whether or not the seemingly increased frequency and seriousness of flooding in the UK can be directly combated by any particular scientific breakthrough or climate change policy remains to be seen, but ongoing research and increased media attention can be of scant consolation to those already caught up in the problem. The combined damage from any one of these saddening incidents can reach high into the millions of pounds, meaning that it is more crucial than ever for home-owners not to be caught out by insurance policies that fail to cover this eventuality. To be forced to carry out serious repairs and replace cherished possessions damaged by flood is a stressful and upsetting prospect – however to be left homeless and penniless, having previously assumed that your insurance would pay out in these circumstances is an altogether worse proposition.

Don’t get caught

The simple solution is not to wait for disaster to strike in your area before examining the small print of your insurance paperwork. Contacting your insurer to determine your coverage in case of flood could mean the difference between having the chance to start afresh or being seriously caught out. If your provider is reluctant to set your mind at rest when questioned, or you recall flood-risk by its conspicuous absence from when taking out your policy, it could be time to switch.

What are the options?

This seemingly daunting task need not be the headache it first appears. Certainly, when looking to find home insurance quotes it is hard not to be overwhelmed by the sheer amount of information available online. Countless comparison sites, as well as individual providers are all quick to promote their own attention grabbing deals, and getting solid reassurance about cover from flood damage may seem require some serious detective work. Those looking for a more user-friendly interface and faster, readily available information would do well to investigate Swiftcover, who have clearly taken these concerns into consideration when putting their website together. All categories are clearly laid out and full details are readily available when clicking through the relevant screens.

When Cass, Becky and I set up Frugal and Fun it was to publicise our Ebook Enjoy the school holidays the Thrifty Way.

We are currently in the process of updating our ebook and will be starting to promote it again soon.  This has got me thinking about how small business promote their business, especially on a tight budget or when it is not their main priority.

We are very lucky in the fact that Becky is great at getting our ebook featured in the local and national press.  She has cultivated some great contacts and also makes sure that she sends out a press release before the date of publication.   It always pays to contact your local paper and ask for the names of contacts so you can do the same, especially if it is a topical or timely product.

Testimonials are also a great way to gain publicity.  We asked people if they would review our book for a free copy and then got their opinions.

We also provided guest posts for bloggers with unique content in exchange for a plug of our book.

I appeared on local radio to discuss the book and put its information on various facebook pages that were relevant to our niche.

If you are looking to advertise a local service you can always get flyers printed and delivered, or if that seems like hard work the Royal mail have introduced their new Royal Mail Door to Door service, where your fyer or brochure will be delivered with peoples regular mail.

Unique business cards always make an impact.  You can hand them out to people and also leave some in places where you know that your product would be useful.  For us soft play centers would be a great place to advertise.  Moo produce great business cards and each one can be printed differently.  They also have a mini card facility which makes them very affordable.

A small business owner has to pretty much do everything themselves and this can be hard and challenging.  Advertising and self promotion does not come easy to most people, but it really pays to promote your product.

Featured Post 

I have been looking into changing our family car and have recently wrote a post on The Mad House about the things I look for in a family car and  Becky has stated that she is after a car with three front seats!

But all this looking at family cars and lusting after them is all well and good, but the reality comes into play, when you have to figure out how much your car is worth.  I would really recommend doing your homework before you actually even walk in to a car show room.

So as I was looking at a Honda I decided to  find out more about Honda’s used car valuation service.  The online service is independently powered by CAP,the market-leading provider of vehicle valuations, to give you an impartial and up-to-date value for your car.

You simply fill in the online form with the requested information, including car registration number.  current milage, your contact details, if you want Honda to contact you and how and you will be provided with a current value of your car.

By having this information before you go looking at cars, you can sit down and work out how much you have to spend and if you want to trade in your car or sell it privately.  Having these things firm in your mind makes car buying a much less stressful experience.

Featured Content

While you may have received a nice stockpile of babysuits, booties, hats, and mittens at your baby shower, kids outgrow their clothing quickly, rendering the need for frequent shopping trips to keep them clothed in the appropriate sizes. Yet as you probably already know, shopping trips can be an absolute nightmare when you’re out with the kids. The younger ones begin to fuss when they feel tired or hungry, throwing crying fits and temper tantrums in the midst of other shoppers, while the older kids will likely whine about every article of clothing you choose for them. Simply put: a few hours spent shopping with the kids will likely leave you feeling fatigued and frustrated.

The other major problem with shopping in stores is finding the time. In the daily rush to chance diapers, prepare meals, do the laundry, and fit in a little household cleaning, there just isn’t enough time in the day to spend a few hours shopping at the mall. You want your free time to be spent relaxing, not looking for your runaway child in the folds of a faraway clothing rack.

Online Shopping: A Simple Solution to an Age-Old Problem

Fortunately for modern mums, there is a simpler way to browse clothing for children and babies, without all the headaches. As you probably know, mobile shopping has been on the rise over the past decade, a solution that makes a lot of sense for busy mums. With just a few clicks of the mouse (and only a few minutes of your spare time), you can pick out new pieces for the entire family and have them shipped right to your doorstep. Most retail websites include high quality photos and product reviews of the items they sell. Another major advantage of online shopping is that most websites offer free shipping on orders over a certain price point (e.g. £20), sparing you the expense of costly shipping fees.

But perhaps the best part of buying new clothes for the family online is that it is easier than ever to find good deals. Instead of printing and cutting coupons, sign up to receive email alerts from your favourite retailers that will notify you when sales are taking place. Every retail site has a “Sales” tab as well, which provides you with a quick and easy means of keeping tabs on those desired items that are a bit out of your price range.

Of course, online shopping isn’t completely stress-free. Without being able to try on new outfits, you may find that clothes do not fit properly or look better in pictures than they do in person. Read the product details and reviews from other customers to help you make a more informed decision as you shop.

Guest Post

Your family may be growing, but that doesn’t mean that you budget is, too. With kids that wear out clothing just as fast as they grow taller, it can be hard to keep everyone clothed and fed on the same income that you’ve always had. However, when it comes to buying clothing, there are several ways you can beat the price tag and get the same items for less money. If you’re trying to stretch your pennies, here’s some advice for shopping for the whole family.

Find good deals online. Even if you have your favourite brick-and-mortar retailers, there’s a good chance you can find the same items online that you’d come across in their stores. In fact, it’s often a cheaper way to shop once you consider the fact that you can use coupon codes and online discounts to buy everything from good value leather jackets to this season’s most popular items. Make this habit easy to form by signing up for sale alerts via email.

Visit second-hand stores. Places like Goodwill often have lightly used items for a dramatic markdown when you compare their prices to buying brand new. It can be a challenge to sift through all of those clothes, but putting in a little elbow grease could result in an entirely new wardrobe for your family without breaking the bank. The key is to go right after peak donation times, such as the end of the year.

Plan for future seasons. For example, the best time to buy winter clothes is not actually in winter. You can save hundreds of pounds on clothing for the family if you shop ahead of seasons. Wait until spring arrives to catch great deals on winter coats, and invest in summer pieces once fall arrives. Just make sure to buy a couple of sizes up for rapidly growing boys and girls.

Buy pieces that can go a long way. This is a rule of thumb for budget shopping. Stick to colours that are easy to mix and match, and do the same with patterns. You may want to invest a little more money in staple pieces such as jeans and shoes and jackets that can be worn every day, and then look for cheaper items to combine them with. This will help you to get more mileage out of your budget.

Skip exclusive pieces. What retailers don’t tell you is that you can get the very same ‘exclusive’ clothing items for half the price, if you’re patient. Never go for just-released apparel; in fact, it’s best to not even shop in regular retail stores. Instead, head to a discount warehouse where you can find clothing that was released earlier for cheaper prices.

Guest Post

Moving home can be stressful enough without the process dragging on for a seemingly endless amount of time. Here, we give you some tips on how to increase the chances of selling your existing home quickly.

If you want your home to sell quickly, then you need to be realistic about the pricing. Remember, it’s a buyer’s market out there at the moment – while property prices are recovering slowly in most areas, it’s still a far cry from the pre-credit crunch boom years. It’s much more difficult to get a mortgage now, with lenders being very careful about who they lend to, and about how much they are prepared to lend.

If you bought your property before the crash, then the bad news is that you probably won’t be able to get as much as you paid for it. The flipside of this is that you might be able to pick up a real bargain on your new home, so it’s not all bad news. The danger in setting the price too high is that you might not sell your home until the property market has fully recovered, by which time the prices of potential new homes will also have increased. A good estate agent should be able to help you set a realistic price for your property, but you should also check the Land Registry to see how much similar properties are actually selling for.

One trap that people often fall into when looking to sell their homes is the temptation to make major renovations in an effort to jack up the selling price. While this can be effective in a minority of cases, it is a very risky strategy. Remember that potential buyers might have their own ideas about what to do with the property. You could end up spending a fortune on renovations that do little or nothing to make your property more attractive to buyers.

That said, a little bit of tidying up can go a long way. Simple steps such as cutting the grass, repairing fences and gates, cleaning the windows, repainting the front door and replacing damaged wallpaper can all help to create the impression of a well-kept home.

You should pay particular attention to the front of your property, as this will be the first thing that the buyer sees. A home that looks good from the outside will attract more interest from potential buyers, so it really can pay to make sure it looks as good as possible. If you have to re-decorate, try to go for neutral décor so that it will appeal to as many people as possible. At the same time, try to ensure that you let as much natural light in as possible by opening curtains and blinds, as artificial lighting can make rooms look a little bit stark.

So, while a bit of TLC can help to increase the chances of selling your home quickly, in most cases the quick fix seems to be the way to go – not only will it allow you to get your home on the market quicker, but it will prevent you from throwing good money after bad.

This information was provided to you by Allianz Your Cover (www.yourcoverinsurance.co.uk).

You might question why on a site about frugal and fun, we are talking about what an isa is or even discussing finances, but often people are frugal in order that they can save money and ensure that they have fun with their family and I know that this is the case for me.  Often having a family means big financial changes.  For some people it is the impetus they needed to start planning for the future for others it really stretches their finances to the limit.  As a stay at home mum and a family trying to manage on one income I am acutely aware of how hard managing your money can be.

Firstly I want to prefix this post by saying I am no expert and if you are thinking about taking out a stocks and shares isa or even a cash isa, please seek independent financial advice.

What is an isa allowance?

An isa is a savings plan where you do not pay tax on any interest earned.

The allowance part is the amount that you are allowed to save tax free.

The current limit is £11,280, up to £5,640 of which can be in the form of  a cash isa

• Using the maximum cash allowance. You can put £5,640 into a cash isa, leaving £5,640 available to fill with shares.
• Use it all for shares. You are allowed to invest in £11,280 worth of shares. However this leaves no room for tax-free cash savings.
• Mix ‘n’ match. Any amount under £5,640 can be saved in cash, then the rest of your £11,280 allowance put in a shares ISA.

Get Independent Financial Advice

Many people fell that independent financial advice is experiences  however, I would always suggest that you seek out a good IFA, preferably based on word of mouth.  Many have fixed fees and will take commission of any products they recommend rather than charging you.  Bear in mind that if you go to your bank for advice, not matter how good the advice is they will only recommend their products.

In our current economic climate many of us need extra cash. Not only do we need to make ends meet, but we also want to live at the standard we have become accustomed to.

Price rises outstrip increases in wages and provide us with a modern day problem. We need to boost our income through extra work and by taking on only the cheapest loans.

 1. Secondary employment

It was considered normal back in the 70s to do two jobs, such as working in a petrol station on the night shift for a couple of days per week, as well as working as a bar man or waitress at the weekend.

In taking on these jobs as secondary employment, you will automatically boost your income each month. It’s important you spare a thought for your health though and never take on more work than you can handle – burning the candle at both ends could lead to health issues which cause you to take time off work, something which will affect your monthly income negatively.

2. Selling online

You will be surprised what people are prepared to pay for that unwanted sofa bed or electric guitar, as well as less obvious items such as old Levi jeans, window frames and even materials like timber. Put any unwanted possessions up for sale using online auction sites and count the money as it rolls in.

3. Loans

For the cheapest loans currently available, you should research reputable lenders. Loans are a great way to boost your finances when you need it most and firms such as this will be able to provide options for the best way to manage your money using their products.

4. Work from home

If you had a traditional 9-5 office job then you may struggle to take on traditional forms of secondary employment. Instead, why not start your own side project from home? It could be selling products you make yourself or offering a cleaning service – whatever matches your skills.

5. Pawnbrokers

If you don’t want to sell an item outright, but still need an injection of cash, then a pawnbroker is a good choice. This is basically a loan given against the value of your goods and if you fail to buy it back in the designated period of time then it is counted as sold.

6. Cash generator

If you want to sell items but don’t have the time to list them online or handle the posting and packing associated with it, then visit cash generator shops. These buy your goods outright to sell in their shops which, whilst convenient, may not always offer you the best price.

7. Car boot sales

Car boot sales are found all over Europe, providing a place where you can buy and sell pretty much anything. These are good if you have lots of low value items which you want to sell and you’d be surprised how much money you can make.

Guest Post

My boys are now coming up 8 and 7 and both of them have been very lucky and experienced many concerts and live events including  The Wiggles.

Most of the events they have been too have been aimed specifically at children of their age and therefore, we have been secure in the knowledge that they are age appropriate.  However, as a parent you can never cover all options and understand just how upset some of the people who had tickets for Justin Beiber at the O2 must feel after he decided to turn up two hours late for his concert.  We have taken the boys to see Glee pretty save in the knowledge that inappropriate language was likely to be minimal, but we also had a conversation about putting on a show and how swear words are not appropriate for everyday use even if the performer uses them.

Often concerts have a support act first before the main event come on stage and you have to factor this in to the time, but you also have to factor travel to and from the concert in to things too, especially on a school night.

Then there is always the chance of the event running over.  Established artists such as Bruce Springsteen (‘visit StubHub for Bruce Springsteen tickets‘) have such a long back catalogue that they have a much higher chance of running over as fans want to hear all their old songs, in addition to any new ones and often a performer will come back on stage for an encore.

We always try to go to events where we can park near and know that we are not going to get stuck in the car for a long time, as there is nothing more annoying than being stuck in a traffic jam for an hour or so before getting home.

Another way of introducing your children to the idea of live concerts is to purchase a DVD of one and sit through it at home.  Then you will be able to explain what to expect and also know if your child is ready to sit for that length of time.

Content Partnership

You’ve kicked the tyres and studied the bodywork. You’ve examined the engine with the same scrutiny as a surgeon about to operate. You’re just about to sign on the dotted line and buy that used car you’ve set your heart on – but wait – there’s a nagging question at the back your mind:

Are you being ripped off?

According to a survey reported in the Telegraph, more than one in 10 of 1500 motorists claim to have been ripped off when buying a used car. And the Office of Fair Trading reports it receives more complaints about the purchase of secondhand cars than anything else.

So how do you know your set of wheels won’t conk out the minute you’ve driven it off the forecourt?

Though cheaper than buying new, a secondhand car is still a considerable investment for many. There might be bargains around for under £1000, but it could be worth spending a little more. Whether you plan to save up for the purchase or apply for a personal loan, it’s worth carrying out a few checks beyond the obvious to make sure you get what you’re paying for.

Here are a few hints to help beat the car cheats and ensure you drive off in a real Bobby Dazzler.

Check one: Ask an expert

The salesman tells you it’s a good little runner with just a few miles on the clock, but what about that large oil patch underneath, or the spray paint on the door handle? While it would be great to know a thing or two about cars, most of us aren’t trained motor engineers. But you can take along someone who is. Organisations such as the AA and RAC offer a car inspection service, or just ask someone from your local garage. They’ll give your chosen car a good check over and impartial advice to help you negotiate a fair price. Of course, you’ll be charged a fee, but it could end up saving you a fortune.

Check two: Go for a test drive

The motor engineer will let you know if the car is roadworthy, but the test drive is your only opportunity to check it meets all your needs. Do your child seats fit in the back? Is there room for your golf clubs in the boot? Is it a comfortable, pleasant car to drive?

Check three: Perform your own data check

Find out your chosen car’s hidden history by carrying out a data check. An Autotrader or HPI search could uncover some invaluable information such as whether it has been stolen, previously written off or if there is still an outstanding loan attached to it.

Check four: Ask to see the log book…

…and if there’s not one available, walk away. Otherwise known as the V5 registration document, this legal (and watermarked) piece of paper must match the vehicle’s registration number, engine and chassis numbers as well as the name and address of the registered keeper.

Check five: Check the MOT and service history

All cars require an MOT or Ministry of Transport test after three years. The test is designed to ensure cars are legally roadworthy. Check whether the car has a continuous series of annual certificates after this time, and that each one is genuine. Also, check the car has a service history (preferably by the dealer), and look out for any persistent faults that continually crop up on invoices.

Check six: How much is the car worth?

The Parkers website and Glass’s guide can give you an idea of much the car is worth for its make, model, age, condition and mileage. But beware: some car sellers like to squeeze every last penny from customers, so they may not stick to price guides.

Remember that, like a house or other major purchase, a car is only worth as much as the buyer is prepared to pay for it. Good luck…

This guest post was written by Tamsin McCahill on behalf of Money Matters, the Sainsbury’s Bank blog. The views expressed in this post are those of the author and not of Sainsbury’s Bank. Though it may include tips and information, it does not constitute advice and should not be used as a basis for any financial decisions. Sainsbury’s Bank accepts no responsibility for the opinions and views of external contributors and the content of external websites included within this post. All information in this post was correct at date of publication.