What is your goal?
For example: Is it to save money for a specific item you want to buy (a car, a holiday, a special outfit)? Do you want to pay off a credit card? Or do you want to limit your spending to start a general savings fund?
Be honest with yourself
There is no point making your goal ‘to be a millionaire by next year’! Really think about what is achievable and if you manage it, you’ll have the experience and confidence to go further next time.
Write down your plan
Make a note of your end goal and then write a list of steps to getting there. Choosing regular smaller economies is more likely to be a successful way to reach your end goal than making dramatic gestures you find it hard to stick to.
So one economy could be to spend less money on that specific product you buy every week on the supermarket.
Set a deadline
With some money goals there might be a time limit anyway, but if not, put a timeframe on what you want to do by when, otherwise your plans will drift.
It’s so important that you and your husband agree what the problem or goal is, and what to do about it. So after you have done some research, involve your other half so the plan of action you put together is something you both believe in.
Reassess and reward
If you make progress in small, manageable steps, reward yourselves and recognize your progress. But don’t blow all your money on a celebration every time!
Get free advice
Most high street banks now offer free consultations on planning for savings, managing budgets etc. Check out your bank’s website first to see if they have an online planner, or make an appointment at your local branch.