Stability and finances aren’t often spoken about in the same sentence. More likely, your finances seem to mimic a rollercoaster. Which can make things tricky when you’re trying to keep a family afloat. Any parent out there attempts to keep their kids away from instability as much as possible. Indeed, we often hear about how an unstable childhood can lead to issues down the line. But, there’s not much you can do about the instability of your finances. So, how can you keep their lives steady in this aspect?

There’s no getting past the fact that it can be difficult. Having savings behind you helps, but that isn’t always easy, either. If you struggle to build a rainy day fund, or if you manage it but want to keep it aside, it’s worth considering the following pointers.

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A mortgage you can pay

When it comes to significant monthly expenses, it doesn’t get worse than mortgage payments. These are certainly what causes the average parent the most stress. Everything else has a habit of falling into place, as long as you can make that one lump sum. To make sure that happens, you should always be aware of the date your mortgage payments go out. It also helps to have some idea of how long it’ll be until you pay it off. It’s best to pay it as fast as possible without putting yourself into financial difficulty. That’s because mortgages work on an interest basis. The longer you take to pay, the more you’ll have to spend. Hence, you’ll be on that roller coaster for even longer. Another way around this issue would be to get a mortgage from a lender like Habitat, who offer interest free options for those who volunteer their time. Either way, homeownership is a sure step to a slow and steady home life for your children.  

A set food budget

Another expense no family can afford to skip is that of the food budget. This should be a staple. In fact, it’s essential a family home is rich with food whenever your children fancy it. That includes main meals and snack foods. And, the best way to ensure you can always afford a hefty food shop is to set yourself a budget. Put that money aside the moment you get paid. That way, you can rest easy that the food money is safe and secure, no matter how erratic the rest of your finances. This could mean putting it in a separate bank account or just keeping it in a box under the bed. Either way, take it out and keep it safe.

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A happy home


Of course, no matter what’s happening with your money you need to provide a happy home for your kids. Keep all your worrying about finances out of their hearing, and don’t let them know how heavily the worries weigh on your shoulders. They have plenty of time to realize the harsh realities of money. But, that time hasn’t come yet.