Let’s face it, being a millennial anything is the most confusing thing there is. Given the rates at which a woman disappears and is said to struggle every day, surviving is an extra tool on its own. What then when you are a mother?
Millennials are said to be the generation born between 1981 and 1996. If you were born between those years, and you are a mother, here is some financial advice.
Number one, you have to sort of understand that, no more hangovers for the rest of the year. This means that you now have to plan your finances. Have a budget. By this, I mean that you ought to write down how you are going to use every penny. If you have a spreadsheet, wonderful. If not, use a pen and paper. But whatever you do, make sure to note down your financial plan. It will save you from buying unnecessary things.
Many people have arguably said that the envelope method works for them. How this works is that, when you receive your money, take it ALL out and put in an envelope just what you need. Whatever is in the envelope, that is what you will spend and nothing more. If you do not like handling cash, there are apps for how to best use your money.
When you have a baby on board, one must forget the impulsive purchasing of unnecessary things. This means that you need to make sure to only pay the necessities and then save the rest. Doing this will really balance your financial life. With this comes time management and knowing how and what to put your time to. Having a schedule will save you time and it will as well create opportunities for you to think about saving plans.
However, my best advice is that you know when to treat yourself. Despite the abovementioned advice, you should not forget that you are from a generation that has to fend for itself. A generation where one’s mental health is of paramount importance. Thus, treat yourself every once in a while. It will make you feel good about yourself.
• Frieda Mukufa’s lifestyle section concentrates on women-related issues and parenting every Friday in the New Era newspaper.