Financial trouble? Beat it with these budgeting tips!

The media is filled with financial crisis at the moment. Huge economic shifts are happening and it can often feel as if we are powerless to do anything about it. Many people don’t enjoy their jobs but feel as if they have no choice when they are trapped by financial circumstance. In order to get a new perspective on the financial situation, I interviewed Michelle House who runs . Her focus is on helping people to budget and manage their finances to improve their financial situation.

How can people make the best of these uncertain economic times?

Firstly, take a deep breath!  I think people can panic before they know the facts of their situation.  I highly recommend that you sit down and do a budget.  Write it down, don’t walk around with it in your head!  By sitting down and taking an honest look at your situation, you can determine if your expenses outweigh your income.  If they do, it’s time to knuckle down.  If they don’t, congratulations! 

But, it is really time to make sure that you are putting away some of that money.  With the people that I have coached in household money management they have all agreed that  it’s not reasonable to have just one party responsible for the budget.  It’s up to both parties in the relationship to be responsible for the money, it’s not fair to leave the responsibility with just one party.  If you’re on your own, it’s up to you!

What are your key principles around money?

  •          Be accountable – know what you are using your money for.  Don’t impulse buy/spend.
  •          Budget – have it written down, not just in your head!  Review it regularly
  •          Honour it – you worked hard for it!
  •          Make it work for you – aim to not work for IT
  •          Pay yourself first – the first money principle I learnt from my mum who learnt from The Richest Man in Babylon

Tell us a bit about your business is a website that offers free tools for managing the household budget.  It also includes a growing database of savings tips and ideas that is contributed to by online members.  The Personal Budget Organiser is a wallet that i designed after needing one myself!  I have always found it difficult to keep track of my balance with cards, seeing cash is much easier and curbs impulse buys!

Why did you start your own business? Is it better financially than working as an employee?  

I’ve had my own businesses since I was 22, so I only ever had 2 full-time jobs with other employers.  What I love the most about being my own boss is that I can constantly challenge myself to achieve more.  I can also change the course of the business as I need to and of course when I need flexibility – it’s there!  It does require a lot of self discipline and constant review of where I want to be.  As I continue to grow the business I can see the financial rewards coming.  Initially though, it’s probably harder than working for someone else!

You are also a Mum. What are the 3 most important things to tell /show your children about money?

.            * We don’t just buy things when we’re out eg drinks, lollies etc…  we plan what we are doing and what we’ll be coming home with.  My 5 year old is really starting to see the value in this and takes her own pocket money if she wants a treat.  It is decided before we go though…

                * We consider everything we buy e.g. we limit take-aways and other entertainment so that we have more money for holidays, we make our own kids treats and then put the saved money in a jar – teaching the value of making your own

                * They are aware of the business and that we have customers that pay us money, that pay bills, and then what’s left is profit.  We also have a game called Cash Flow for kids that they’re about to start playing and learning from.

Is there anything else you would like to share with the readers?

Money does indeed make the world go around.  In these times of “financial crisis” that are being talked about its’ time to take stock, work out if you may need to get another job to boost your income, consider selling anything that you cannot afford.  These times come around every 7 years or so…. now’s the time to be really, really responsible with your money!

My best tip – Reduce expenses by 10%, increase income by 10% and you’ll be up 20%!!

Michelle House from

Michelle House from


Get your FREE budgeting tips here!
Michelle House is bringing up a young family and manages the finances of a family business in property maintenance. She has also become well known as a budgeting expert, thanks to the creation of her practical budgeting tool called the ‘Personal Budget Organiser’, or PBO. The PBO works as a portable filing system within a wallet – perfect for organising money, receipts, or anything that will help you budget. Teaming her product with a useful website,
 Michelle hopes to inspire people to ‘get back to basics’ with their understanding of expenditure and money.


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One Response to “Financial trouble? Beat it with these budgeting tips!”

  1. Lost Your Job? What You Need To Do Now - by Joanna Penn | How To Enjoy Your Job... Or Find A New One! Says:

    […] Cut back on expenses and look at your budget […]

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