Finance. Did you just get a chill running down your spine? Because I sure as hell did. As a general rule, a lot of us completely suck at handling our money. We look through our bank statements and wonder where we could have possibly spent $25 on a Tuesday. Ah, yes.. all you can eat dumplings (possibly worth it, lets not deny.) But, if you’re wanting to take a step back from that broke life, without giving up everything, there are ways (you’re welcome.)
Financial Minimalism Is Key
Minimalism is about the simplification of something (obviously), and can be very helpful when trying to not blow all your cash at once. Just like the concept being applied to design and art, simplifying your money tends to be more straight forward and direct. Financial minimalism doesn’t have to mean you don’t treat yourself or buy what you need (you gotta survive, remember?) Instead, this is about reducing the financial clutter. Maybe you have a tonne of credit cards with no clear idea about the purpose each one has. In this case, you can either condense your accounts or reestablish what you’ll use each card for.
Re-Evaluate Your Money Woes
Sometimes we’re just too stubborn to see why we’re all down in the dumps with our money. Or maybe we all know why we’re shedding tears over our online bank statements, but we like living in avoidance. Whatever the reason is, it’s good to re-evaluate what’s really important to you. If you really love getting away for holidays, budget accordingly to make sure that you’re not spending more unnecessary money elsewhere. If you want to make a deposit on a house or car, find where you’re spending is most excessive, decide if it’s worth it, then put that money towards your goal.
Set Little Goals
Little goals are more attainable than extravagant, large ones. This, of course, would come as no surprise to anyone. But we can often get caught up in the big picture of things and try to fast track our progress. When this happens, we become disappointed when our money plans go awry and are more likely to give up on what we want. Little goals could be as simple as buying one less coffee, or eating less takeout, and putting it towards something else. You definitely don’t have to give up everything you enjoy doing (where’s the fun in that?) instead you can re-work how you spend.
Use Financial Tools
There are a heap of apps that can help you snap out of the avoidance you’ve been hiding under. Some are focused primarily on helping you save your dosh. Others tend to focus on helping you to invest your money, like Acorns. While these are common approaches, there are tools that focus on your spending, rather than saving, such as Free2Spend. This can ultimately help you change your overall mindset on money, and possibly give you more freedom with smart spending. An app such as this one, allows you to understand the direct impact your spending has on your savings goals.
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