Things that can have an affect on your finances.

In our Financial School series, we have previously talked about the basics of finance and how the social economy affects your personal finances. This time we thought we would take a closer look at other things that can also change your own situation on the money front. The fact is, that there can be various things that can affect your personal finances, such as rising interest rates, employment, rising living costs, inflation. There are a lot of factors to consider when it comes to your personal finances.

Calendar year

What many people don’t take into consideration is what the upcoming calendar year can look like financially. It’s not so uncommon to not think so much ahead, but on the other hand it can be a practical thing to do to be a little prepared for the year ahead. 

During the year you will most likely attend family gatherings such as birthdays, graduations, weddings, Christmas’, and other holidays like Easter and midsummer can affect your wallet as extra expenses. It’s good to stay ahead of these types of events with some financial planning, so no surprise expenses can disturb your personal finances.

Another thing that is good to keep in mind when thinking of the calendar year is for some households, living expenses when it comes to your utility expenses, such as energy consumptions, electricity etc. During wintertime for example some utility expenses rise because of higher energy consumption. 

Supply and demand

In addition to other household expenses a lot of the food that we buy is seasonal. Some products’ prices go up when it’s harder to get a hold on the product and the price goes down when there is a lot of it or when there’s plentiful amounts, it’s all basically supply and demand.

Certain foods are cheaper during different seasons. When thinking of finances, it’s good to keep in mind that planning for different seasons can have a positive effect on your finances. 

Everyday expenses

Your home is one the biggest expenses you most likely have that affects your everyday expenses. In addition to main household expenses such as rent or your mortgage, you need to take into account the previously mentioned energy costs and other additional costs that can be due to unexpected renovations or other general maintenance needs. These costs can wary, but these are important to keep in mind, especially for those who live in a villa. 

For those who live in apartments in areas where there isn't free parking, what are the parking expenses and if paying for a rental parking space is cheaper than paying daily parking fee. 


Your lifestyle also impacts your everyday expenses, this may feel like a no-brainer when you think about it. But your monthly shopping habits,  traveling and what kind of electronic devices you spend on or how much you spend on cultural events, such as museums, concerts and how much you dine out can have a significant impact on your finances.

It's good to think about how much of it you really need and what are the things you can do yourself. Could you change your car tires yourself? Or for example buy furniture and electronics second hand or eat in more? There isn’t one correct way of reducing your unnecessary spending, but small changes really can make a big difference and you may even be able to save up during the year more than you anticipated. 


It kind of goes without saying, having a good balance is a good foundation for your finances. If you have read the other articles in our series you can see that a lot of it is about knowing what and  how you spend your income. We would like to just remind you that despite the rise of cost of living and increased interest rates or energy costs, a lot more can happen that is good to keep an eye on. When you’re more prepared and planned it’s easier to handle harder times as well. 

Small things and changes in your own finances can have big long lasting impact in your everyday life when it comes to your finances and can increase your financial opportunities in what you can do in the future.