From budgeting for daily expenses to planning for retirement, making smart financial decisions can help your household thrive and avoid common financial pitfalls. So, this week on On the House: The Household Management Science Insights Podcast, host Marie Stella is joined by finance lecturer Dr. George Mihaylov to break down the essentials of household finance. Based at The University of Adelaide, Dr. George Mihaylov’s expertise comprises biodiversity and climate finance, superannuation and household finance, and risk management and insurance. Currently, Dr. George Mihaylov is interested in applying financial research and finance principles to a wide range of interdisciplinary problems. His research typically evaluates the financial consequences of individual decision making for households, small and family businesses, and large listed corporations, including in industries as diverse as tourism, manufacturing, and agriculture. In this episode, Dr. George Mihaylov offers insight on the most common financial mistakes made by households — from budgeting to superannuation — and shares his perspective on the renowned 50-30-20 budgeting rule. Additionally, Dr. George Mihaylov sheds light on the benefits of owning a credit card, as well as factors to consider when selecting one that fits your lifestyle and needs. Together, Marie and Dr. George Mihaylov tackle budgeting questions from internet users, and discuss useful habits to practice when adhering to a household budget. So, whether you’re just starting your financial journey or looking to fine-tune your approach, tune in to this episode for research-backed tips and actionable insights that’ll help you manage your home and finances with confidence! Follow Dr. George Mihaylov’s work: https://www.adelaide.edu.au/directory/george.mihaylov# Produced by the Household Management Science Labs, a division of LMSL, the Life Management Science Labs. Explore LMSL at https://lifemanagementsciencelabs.com, and visit https://householdmgmt.lifemanagementsciencelabs.com/  for further information about Household Management Labs. Follow us on Social Media to stay updated:YouTube: https://www.youtube.com/@householdmanagementsciencelabsFacebook: https://www.facebook.com/householdmgmt.science.labsInstagram: https://www.instagram.com/householdMgmt.science.labsTwitter: https://twitter.com/HMScienceLabsLinkedIn: http://linkedin.com/showcase/household-management-science-labsTikTok: https://www.tiktok.com/@household.m.science.labs You can also subscribe and listen to the show on your preferred podcasting platforms:Apple Podcasts: https://podcasts.apple.com/us/podcast/on-the-house-the-household-management-science/id1648508806Spotify: https://open.spotify.com/show/2E9powtiwe0ee7ycQQCTHlAmazon: https://music.amazon.com/podcasts/a654971d-e3e3-46c8-80bd-10655fb6064a/on-the-house-the-household-management-science-insights-podcastiHeart Radio: https://www.iheart.com/podcast/338-on-the-house-the-household-102862777Podbean: https://householdmanagementinsights.podbean.comPlayerFM: https://player.fm/series/3402161Podchaser: https://www.podchaser.com/podcasts/on-the-house-the-household-man-4914170