You work too hard, you work long hours and still lose money instead of saving up? How come?
We live in a culture that has a habit of making you feel guilty if you are not spending half your time at work. Yet have you ever stopped to think, whether working too hard makes you spend money you could have otherwise saved?
Say you’ve been at work from dusk till dawn. You get home and the last thing on your mind is cooking. Your fridge needs replenishing anyways because you didn’t have time to stop at the supermarket. So, you open your favourite delivery app on your phone and order in, easy! The next day, your fridge still needs some TLC and you don’t have the time to shop and prepare lunch early in the morning. You get to work and end up working through your break – so you order in again.
Or how about that discounted gym membership you got yourself in January for your new year resolution? It’s already May and you’ve been there, what, two times tops? Not to mention, the film streaming service you’re paying for monthly. You purchased it with the intention of kicking off your shoes and helping yourself to good glass of red to relax after your workday – but that doesn’t happen often either because you’re so knackered, you doze off within minutes.
If any of these situations feel close to home, you’re not alone. Our lives have become more hectic. The demands on our time and energy are many, varied, and they all affect our financial wellbeing in one way on another. Running on empty with your money leaking down the drain because you just don’t have the time to plan, is a horrible cycle.
OK, so what can you do about it?
Take a hard look at your life. You spend most of your time at work and come home late. Go through all your subscriptions and unenroll from the ones that you pay for monthly and don’t have the time for. Try not to jump into an open subscription because it attracted your attention and take count of how many times you made use of your subscription in a month. Same goes for your gym membership. Only opt for a long-term membership if you have truly settled in a gym routine.
We’re not saying not to spend any money on yourself. It’s just as important to have a ‘self-care’ budget to spend on things you truly enjoy. Just make sure you get all the value you should get out of them!