“Budget Lessons”

Lessons we should be thought in school.

Money Lesson 3:

Join a Money Community for Financial Support

Many financial tasks can feel solitary: You often select investments, cut line items from your budget and pay bills on your own (or with one other partner).

But what if it doesn’t have to be?

What are the benefits of joining a community where money and personal finance talk is ok. Where you can reach out and have the support of a group who are all in it together?

Having some sort of financial community is beneficial for the same reasons talking about money with your partner or friends is: You feel supported and less alone. Money is can be a highly emotional topic for many people and can often be confusing and frustrating. And now, with so many people facing ever increasing price rises or fearing job and income loss, talking to others and asking questions, or simply reading about what others are dealing with, can ease stress or inspire you to reach your goals.

Your first stop can often be social media, following accounts like mine or watching videos on YouTube. This is a great place to start and a fantastic introduction to the world of community support amongst others of the same mindset.

Eventually you may be wondering what is your next step in looking for support. What if you feel you would like more input. More answers to your questions?

This was my thinking around launching the “Money Hub”. I want to create a community where everyone can and will have access to a variety of tools to help them get a grip of their finances. It does not matter if your employed, self employed or on social welfare, there will be an option for everyone. Community saving challenges, any tax related issues, help with what entitlements you may be missing out on, continued support not only from me but other members. The Money Hub will be a ‘safe’ place to talk about finances.

In fact how many of us even understand our payslip? I know I don’t I am ashamed to say. A community based hub will also help in the sense members will be there to help and encourage each other in skills that one may have but not anther. It is exactly as it says on the tin, a community project.

Regardless of the type of support group, participants report many of the same perceived benefits from participation:

• Fostering hope
• Learn from other members
• Learn success strategies
• Overcome isolation
• Learning from successful role models
• Feeling more in control of your situation
• Overcome stigma
• Learning about what services and help are available

My aim of the group is for the lowest possible cost, members will feel safe to talk, have access to member only talks with accountants and other professionals who can guide you in the right direction to success.

The research on money groups have shown the success of community groups members. Even reading my blog will put you ahead with success in your personal finances.