Everyone knows that making the right financial choices can be challenging, especially with so many opportunities to spend your hard-earned paycheck. “Budgeting”, “savings”,“Investments” the buzz words that very often end up being more of a “buzzkill”and not exactly helpful when all you want to do is make sure your finances are floating above water. You get the drift.
Be conscious and aware of marketing ploys and advertising scams. Of not falling victim to the empty promises and terms and conditions on the bottom of so many service contract sand guideline. Read the small print and set yourself financial goals. You know the drill.
And so, without pretending to know the ins and outs of your everyday life, try playing these little games when attempting to not give in to the simple, everyday mistakes well all make when trying to up our financial “game”.
Play the ‘will I use it? ’ game
Parents seem to be perfectly capable of asking their children if they need things, yet seem unable to ask themselves the same questions. If you can survive without a certain product, or you have something that does the same job (just a little slower) you need to seriously ask yourself how much you really need it when grappling with the “do I or don't I” question.
Play the ‘will I enjoy it?’ game
This point relates to the fact that the gap between social expectation and actual enjoyment is a real thing. Our advice is to always try something once, but never feel the need to repeat things you don’t enjoy, regardless of peer pressure. If you don’t like prosecutor why pretend that you do? Spending a ridiculous amount of money on a concert ticket to see a band you don’t actually enjoy seems ludicrous with hindsight– but we often get caught up in the moment. If you have a goal, or in this case an amount, that you are specifically working or saving for – keep your eye on it!
Equally, this can be said for any diet or lifestyle, everyone needs to weigh up what foods they enjoy the most and realise the most economical way to live with a satisfying diet.
If some of your mates are going to do something that you know you’re not going to enjoy and is expensive or out of your budget, find a way of meeting up with them at an event or during time that doesn’t require spending money and something that doesn’t interest you.
Play the ‘do I need to?’ game
The ‘do I need to game?’ revolves around impulse.This relates to whether you can control yourself when faced with certain situations. Normally the question is ‘do I need to look around the clothes shops?’,hopefully if you’re operating on a money saving mission the answer is ‘no’. The whole idea of this tip is to avoid areas where you are most likely to give into those instant gratification impulses.
You probably don’t need that new pair of shoes, the new jumper, jacket or pair of jeans, acknowledge what you do = have and think about how the money might be better spent, or saved.
As strange as it sounds many financial mistakes can be avoided by just taking a step back and thinking about what you’re spending the money on. If you won’t need, use or enjoy the thing that you are buying you need to ask yourself whether it is worth the investment. We don’t want to prevent you from enjoying yourself and we believe you should spend your money how you see fit, but just be conscious of where your dollar goes – especially if there is a greater goal in the mix.
The advice on this website may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial advice prior to acting on this information.