How to budget for the fun things when your money is stretched and costs keep rising

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Many of us have had our wallets and bank accounts squeezed by increased grocery bills, petrol, rent or mortgage repayments this year.

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Inflation has gone up since the last results in June and with wage growth easing, and other cost of living pressures, some of us are feeling the pinch with our finances.

For many people, finding ways to tighten household budgets is a challenge.

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With the holiday season approaching and our social calendars filling up, finding the money to pay for eating out with friends, presents, and generally going out for fun can be stressful.

We caught up with Aleks Nikolic, a financial blogger who runs the website Broke Girl Wealth, and money educator Nicole Pedersen-McKinnon, to get their tips on balancing your budget between essential household and wellbeing costs, and the “fun stuff”.

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1. Be honest about your money situation

Aleks is a lawyer by day. In her spare time, she helps other women improve their relationship with money by sharing financial tips via her podcast and website.

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