By Melina Byrne, the Money Maven
Whip your finances into shape with professional help from Analaura Luna, the Australian co-author of the 30 Day Challenge, a priceless money-saving manual that can help families save up to $30,000 in just 30 days.
RESCU: What are 5 top tips for saving money?
Analaura Luna: (pictured left with husband and co-author Wilson Luna)
1. Budget! If you’re serious about saving money you really need a budget, because if you don’t know how much you’re currently spending, how will you know where you can start saving?
2. Be disciplined – most budget blowouts are caused by impulse purchases, so if you know that you’re going to be tempted to overspend, take cash and leave the plastic at home.
3. Shop around – this goes for everything from shoes to holidays to superannuation funds and everything in between. Always take the time to find the best possible deal.
4. Track your ‘actual’ expenses with a spending diary. If your budget balances on paper but not in reality, keeping track of your costs can help you see where it’s coming undone so you can do something about it.
5. Be organised! Late payment fees, overdrawn account fees, quick trips to the convenience store, interest charged on late credit card payments … disorganisation can cost a fortune!
RESCU: Which online resources can help women/families organise their finances?
Analaura Luna: “The government’s Understanding Money website has some fantastic information sheets aimed at increasing women’s financial literacy and money management skills, along with some handy budget planning and financial health check tools.
ASIC’s FIDO website also has some wonderful resources for budgeting, dealing with debt and protecting your family’s future.
And of course, www.yourfamilyyourmoney.com has loads of great articles, tools and resources that women can use to get their money management skills in shape!”
RESCU: How can women ease themselves into becoming more financially savvy?
Analaura Luna: “Women have so much to do that the thought of taking on something new can be quite overwhelming, especially if it’s an area that they don’t feel confident in.
Getting organised is a great first step – create a filing system for your paperwork so that you always know exactly where your financial documents are, set up an ‘in-box’ for temporarily filing accounts that need to be paid or paperwork that needs your attention and set time aside each week to deal with your financial ‘business’.
Next, devote time each week to learning more about money management – get online, read articles and magazines and sign up for newsletters. Start with the basics and work your way up from there – you’ll be surprised at how quickly you’ll learn and how fast your confidence will grow!”
RESCU: How does your 30 Day Challenge work?
Analaura Luna: “The 30 Day Challenge is designed to help people detox their finances, guiding families through the simple, but effective, changes they can make to streamline expenses, change their lifestyle and create some fantastic new money management habits that will save them money.
The Challenge addresses key areas where families can make simple changes that will help them save money, without being too hard to live with for the long term. Basically, it makes saving fun and easy for every family!”
RESCU: What advice would you give someone who is struggling with the 30 Day Challenge?
Analaura Luna: “I’d recommend that readers of the 30 Day Challenge make the most of the interactive money trainer and personalized tracker that you can access online on www.yourfamilyyourmoney.com/30DayChallenge.htm. It was designed to support readers step by step along the program, so you are cheating yourself if you don’t use it.
Another tip would be to maybe take it slower. Although the Challenge was designed to be completed in 30 days, there’s no reason why people can’t spend as much time as they need on each day to ensure that they’re confident and comfortable with the changes they’re making before they move on to the next step. Creating new habits doesn’t happen instantly, and sometimes it’s easier to concentrate on breaking one habit at a time. It doesn’t matter if you get there slowly, as long as you get there!”
The 30 Day Challenge retails for $19.95 and is available from all good bookstores and from Analaura’s online shop at www.yourfamilyyourmoney.com
The Money Maven will be back soon with more money-saving tips @ rescu.com.au/_blog/Money
Other Money Maven blogs you might enjoy:
1. 13 websites that can save you money and offer great freebies
2. Cheap thrills: little luxuries that won’t blow your budget
3. The best ways to buy in bulk and save!
