‘Do I really need the shoes? Are they too expensive? Will I ever wear them again?’ she deliberated. She decided in the affirmative. She had been good with her spending that month and it’s not often she sees one of her oldest and best friends get married. Besides they are gorgeous. She smiled with pride as she carried them carefully to the till. She was so proud of how far she’d come, the attitudes she’d changed and discipline she’d implemented in her financial decisions. In the last few months she had finally paid off the last of her credit cards and overdraft. No more charges and interest she could finally trust herself to go shopping without having to cower in guilt later or dread the bank statement.
Meanwhile he knew he shouldn’t have bought that game. He was meant to be going out with the boys this weekend and would now have to make his excuses and stay in instead. Because of splurges immediately post-pay day he was now barely able to eat after covering all his bills and rent. He flipped between obsessively checking his account balance and avoiding it each time dreading what it would be and feeling that bitter pang of disappointment at having failed again. He knew he only had himself to blame. And of course there are excuses, valid ones- ‘If only I didn’t have such high outgoings’, ‘if only my friends weren’t so well off’ or ‘well I really needed that DVD and it was my mate’s birthday so I had to go out’
How many of us live with the reality that unfortunately life is more of the latter than the former? I wonder if you, like me live with the fact that, at best, you are a work in progress with your financial attitudes and decisions. If you too feel at odds with the person you let people see- the one with enough cash for whatever they want, enough to buy that coffee for you and go out for lunch? But the recent economic downturn has taught me that you need to keep a wise and shrewd head on you if you’re to keep your head above water financially. It can be tough and it can take time, years in some cases, but it is crucial that even if you’ve made mistakes you don’t make the same ones over and over because they can be costly.
So from one work in progress to another here are the changes in mindset I am trying to implement in order to win the ongoing battle between being the overspender and the one who actually has a rainy day fund for when that thing you never imagined but really need on a day to day basis breaks. Yeah I wanna be that girl.
1. SWALLOW SOME PRIDE! This is in caps because it’s the hardest but most beneficial. Realise you may need some help and ask for it. Maybe this means talking to the bank about your options- many banks offer a free service about what is best for you or maybe it’s talking to someone who is more finance savvy about changing your perspective and financial decisions.
2. Identify what’s important and what isn’t, and no, your subscriptions to Glamour, Vogue and Grazia are not one of them. Why not cancel them and just buy one magazine a month as a treat instead. For me tithing is really important. Even at the expense of stuff I really love that for me is non-negotiable.
3. Fruit and root. Identify destructive spending habits and avoid putting yourself in situations where they arise. If it’s spending too much on coffee throughout the day make a flask in the morning or keep a jar of coffee on your desk.
4. And finally stick at it. Remind yourself it will take time but stick at it, make some decisions and keep at it. Give yourself a break.
Written by Sara Bennett
TweetMe @Sarallam
Check out her personal blog HERE