Get your Child Ready for University Life

As a parent, having a child is such an amazing experience. However, when the time comes they grow and no longer are a child, they are a free-thinking young adult that will eventually be able to leave for University or College. It can be a tough time for them and for you, as you may be fretting you on how to properly prepare them for such a big transition. This article will hopefully show you some good tips and tricks on how to prepare your children for the big change of university.

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Teach them how to Budget

This is the first time that your child may be managing their finances by themselves, and it is a big step for them to take. It’s worth taking a bit of time to talk them through the basics of budgeting to help them keep on top of their money once September comes around. Although a lot of expenses – including utility bills and internet costs – will be included in the price of their rent if they are staying in university accommodation, they will still need to budget for food and other day-to-day expenses, as well as having fun. You can find more information on budgeting in the fees and funding section.

 

Something that can also be advised is by showing them and purchasing a Prepaid Bill phone if they have not already. In this sense, you can then have the peace of mind that they are going to be ok and can contact you.

Teach them the Basics of Cooking

Cooking is a basic life skill, and to teach it you do not need to be a big-time chef. You will probably still be able to offer your son or daughter some useful tips on cooking. Find out if there’s anything they’d particularly like to learn how to cook themselves. Make sure they at least know the basics and have a few meals that they are comfortable preparing.

 

You should also help them buy the basic cooking utensils, crockery and cutlery that they’ll need when they arrive. If your child is moving into University Accommodation then most of them offer basic facilities like a kettle, oven and hobs, but they will most likely need to bring their own pots and utilities. You can take them shopping and then educate them and show them the things that they need. It can be a nice bonding session and more.

Banking

Most students will need to open their own bank account before they move. This is something that you need to consider when it comes to helping your child. Helping your son or daughter compare the various options and work out which is best for them is a good exercise for both of you – you’ll know they’ve got an account that will provide them with all the financial services they need at university and they will hopefully have learned a bit more about financial services and how to compare them. Every account will have its own benefits, so make sure you look carefully and educate them with the differences! 

Money Matters: How To Make 2020 The Year Of Reduced Waste

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The start of a new decade is the perfect opportunity to reevaluate your lifestyle and adopt the changes needed to become a better person. Right now, the need to reduce our physical waste in a bid to save the planet is more prominent than ever. But what about saving your finances?

 

Living costs rise at a far faster rate than salaries. This is why your New Year’s Resolution should revolve on the concept of making your money work harder. Here are 15 ways to turn your 2020 vision into a reality.

 

#1. Quit Bad Habits

 

Let’s face it; quitting bad habits will always appear on the NYR lists. While you’ve previously given up within a few weeks, focusing on the financial elements could transform things for the better. Quitting cigarettes will save the average 20-a-day $50 per week. You could save half of the money while using the other half as a weekly reward for staying on track. It’s great news for the body, mind, and bank balance. This new approach will ensure that 2020 is the year you succeed.

 

#2. Analyze All Purchases

 

There’s nothing wrong with impulse buys that will actively enhance your life. However, wasting money on products that you will not use is a huge problem. It’s easy to be won over by fancy marketing gimmicks, but buying the latest tech gadget for the sake of joining the herd is often a bad move. Where possible, sleep on the decision. If you aren’t that fussed about having not bought the item when you wake up, it probably isn’t needed. You should see a decline in regrettable choices.

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#3. Lose The Need For Ownership

 

In addition to avoiding unnecessary purchases, 2020 can be the year where you embrace a healthier mindset. While society may suggest that you need to own everything, you don’t. There are many situations in which leasing a car may be better than buying one. Meanwhile, renting an outfit for an vent is often a smarter decision than wearing it once and letting it sit in the wardrobe collecting dust. The money saved by hiring goods can allow you to spend more money elsewhere.

 

#4. Trim The Fat On Bills

 

Overspending on monthly services is another very common problem. Here is a guide to cutting cellphone costs that can save hundreds of dollars each year. Similarly, energy bills, home insurance, and broadband packages can be trimmed down. Tailoring the package to your needs rather than what the company tries to sell you can make a big difference to monthly outgoings. Better still, you won’t see any difference to your daily life as the features you cut out aren’t being used anyway.

 

#5. Shop Around

 

We can all appreciate the benefits of browsing the market for a better deal. The introduction of price comparison sites made a huge impact on major purchases. However, you can now add tools to your browser that automatically search for vouchers and discounts on all purchases. Even if you save a few dollars during each online shopping session, the savings soon add up. They can be used to buy clothes, groceries, and gifts for loved ones during the festive season. The possibilities are endless.

 

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#6. Consider ‘Non-New’ Items

 

It seems madness to spend twice the price on an item that you could get cheaper simply because it has been used. There are plenty of items that you’ll want to buy brand new. Still, charity shops can be a great place to pick up furniture, clothing accessories, books, and more. Perhaps more tellingly, you can save thousands on kitchen remodels and big tasks by buying the ex-display models or end of the line stock. Not having the latest season’s trend isn’t a big issue unless you make it one.

 

#7. Change Work Habits

 

Your career is the primary source of revenue in your life. However, it can be a source of huge expense too. There are many ways to cut the costs. Working from home, even or one day per week can have a truly positive influence. Meanwhile, trading the morning trip to Starbuck for a homemade coffee could save over $1,000 per year. Those simple changes can actively aid your physical and mental health, as well as your career. Still, it’s the financial savings that stand out.

 

#8. Stop Trashing Perfectly Good Products

 

Most people are guilty of hoarding furniture, electronics, and collectibles. In most cases, they’ll eventually be thrown out during a clean spring. However, one person’s trash is another’s treasure. Thanks to local online selling platforms, the opportunity to generate money from old goods has never been easier. This additionally serves as the perfect way to declutter your life at the start of a new decade. The fact it actually reduces waste pollution by recycling old items is merely a bonus.

 

#9. Ensure That Assets Sell At Their Full Potential

 

When selling the small household goods, any cash injection is a step in the right direction. However, valuable assets need to sell at the right price. Preparing the home for a quick and agreeable sale is vital for anyone hoping to relocate in 2020 or beyond. Meanwhile, expensive antiques should be independently valued. After all, you do not want to become one of those people that sells a vase for $50 at a garage sale only to see it sell for $1,000 in three months time.

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#10. Hire An Accountant

 

The idea of paying an expert to handle your taxes and other financial obligations may seem counterproductive. On the contrary, though, a personal tax accountant can save you money in the long run. Whether it’s handling small business accounts or individual taxes, their advanced knowledge will serve you well. Besides, time is money, and you can use the extra time to earn more money. When added to the emotional reassurance of making the right moves, success is assured.

 

#11. Seek Entitlements

 

You work hard, and put money into the system. As such, you should feel no guilt about seeking the financial support that you are entitled to. Whether you’re a parent, a worker in the public sector, or have a disability doesn’t matter. Even an extra few hundred dollars per year, through credits or discounts, can seriously enhance your life. Life can get tough from time to time, but helping hands are often available. Take the support that is actually designed for you, and big results will show.

 

#12. Improve The Home’s Energy Efficiency

 

If you can reduce financial waste while also reducing waste pollution, that’s perfect. This guide to creating a greener home will allow you to master both. The investments into better lighting and water efficiency will reduce monthly bills. Meanwhile, solar panels and other eco-friendly upgrades often show a positive ROI. The financial value of your property and monthly cash flow will each see positive outcomes. Best of all, the rewards will continue throughout 2020 and beyond.

 

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#13. Share Facilities

 

The idea of combining financial savings with reduced energy waste needn’t be limited to the home. Carpools are a particularly smart move to save money and resources. Meanwhile, if you have a good relationship with the neighbors, it may be possible to share items like the lawnmower. It seems a little pointless to buy and store products separately if you can half the costs and efforts. Of course, it’s not an option that’s open to all homeowners or workers. Still, it’s worth investigating.

 

#14. Move Bank Accounts

 

If you are currently losing money to interest rates on credit cards, switching to new banks can work wonders. They are fighting for your custom and will often offer 0% on transfers as well as a few months of zero interest. This gives you a chance to reduce the debt without suffering from high interest rates. In turn, this can support your bid to create a better financial situation. After all, your overall debts will shrink during that period of breathing space.

 

#15. Repair Things

 

How often do you trash a top because the zip broke, or replace furniture because it suffered minor damage? Get into the habit of repairing and upcycling items, and you’ll save vast sums of money over the course of a year. You can turn crates into garden furniture, save old garments, and breathe new life into unloved items. It’s a great way to save time and money while also providing a sense of satisfaction. When dealing with clothes, it’s an ideal way to gain a fresh and unique appearance too.

 

The Final Word

 

We can all benefit from reducing our financial waste, and 2020 is the year to make it happen. While it’s true that the first few weeks may seem difficult, your efforts will soon be rewarded. Once you see how much of an impact your efforts can bring, the incentive to stay on track will be huge.

 

Last but not least, you must remember that a setback along the way needn’t stop you from achieving the end goals. This is a lifelong transformation rather than a quick fix. Do not forget it.