Finances / Lifestyle

Your Money Should not be Thrown Around Without a Care in the World

how to expand your business

Your money should not be thrown around without a care in the world. We completely understand that it’s your money, and you want to spend it however you want to spend it. But, if you’re finding that you’re regretting the things that you’re purchasing, and you’re spending more simply because you have more, then you need to stop right there, and reconsider what you’re doing. 

In this article, we’re going to be taking a look at some of the things that you should be thinking about when it comes to your money so that you’re making the most of it. Keep reading to find out more.

Make The Right Investments

First, we’re going to recommend that you take the time to ensure that you’re making the right investments. If you’ve got some extra money, then investing it is always a good way to go. Sometimes you win, and sometimes you lose, but it all depends on the investment type, how much you’re putting in, the state of each market and so on. For example, property is generally considered one of the safest investment options because you have a high percentage of seeing a return on your investment. If you’ve got the money and the time to invest in property, then we highly recommend that you do.

But, property is not the only type of investment that you could look at. There are also plenty of others such as crypto, forex, stocks, and so much more. It’s worth looking into all of the options, as you never know what’s going to appeal to you the most. Sometimes it’s the long-game that you want to play, and you need to do your research into which is the best type of investment for this type of return.

Save For The Future

Person putting coin in a piggy bank

Photo by maitree rimthong on Pexels

It’s also important that you are saving for the future. If you think about it, you might not be guaranteed tomorrow which is why so many people say that there is no point. But, the chances are greater that you will get a tomorrow, and that’s why you need to plan for it. You never know what’s going to happen, but we promise you that it’s better to have it and not need it, than need it and not have it. 

Saving for the future might seem like an impossible task if you’re not earning a lot of money right now, but we assure you that it isn’t. If you have a specific amount of money in mind, then you can set yourself a goal and ensure that you’re meeting it each month. But, if you’re just putting money away so that you have a cushion to fall back on if things get rough, then you can just put what you can in, when you can. It might also be worth having a jar around so that your change can go in there. Let’s be honest, none of us really use change anyway, but it will all add up in the end.

Have A Separate Savings Pot 

We would recommend that you also have a separate set of savings that has a more specific use. For example, where the savings that we mentioned above should be used as more of a cushion or a nest egg, this lot of savings should be used specifically in the case of an emergency. For example, if your boiler breaks down and you need to get a new one quickly, then this is the pot for that. Or, if for some reason you ever find yourself in need of legal services such as a dui defense attorney, then it’s good to have the money somewhere.

Some people will say that it gets confusing having two lots of savings, but this isn’t really true. You know that one is for one thing, and one is for another, so there’s nothing complicated about it. However, we also know that some people will wonder how you’re going to fill two savings accounts at a time when money is already tight, which brings us right into our next point..

Sort Yourself A Budget

money management tips

Photo by Karolina Grabowska on Pexels

You should be sorting yourself a budget. Make a list of all of the incoming money to the household, and then make a separate list for all of the outgoings. At the bottom, get the total of each list, and then take away the total outgoing from the total incoming. This leaves you with the extra money that you have after everything has been paid.

The reason we say to do it this way is because it will give you a detailed breakdown of how much you are paying to each person or company every single month. Just keep in mind that this needs to be updated every time there is a change in your financial situation. This means that if the money coming into the household goes up or down, the budget needs to be amended. If you change the amount you pay on a specific bill, it needs to be amended. If you need to pay a new bill, this needs to be amended.

Your budget is there to help you stay within the lines, and keep you financially healthy. While it might not feel like it, it’s one of the best things that you can do to stop you from overspending.

Focus On What You Actually WANT

When we have more money than we are used to, a lot of the time we start making purchases that are not only unnecessary, but purchases that we don’t really want or need in the first place. For example, some people will buy designer labels simply because they think that this is what they should be seen with. Instead of doing this, you need to focus on making the purchases that you actually want. If you don’t want something, don’t buy it, even if you think that it’s something that you should buy because you have money. This is not the way that you should be living, as it will cost you more, that you could be putting towards something else you actually wanted.

Stop letting the pressure of what everyone else likes get to you. It’s not worth it, and it’s only going to end up with you having a whole load of items that you don’t even like that much, but cost you an arm and a leg to purchase.

If You’re In Debt, This Needs Sorting

If you are in debt, then you need to be sorting this out before you are doing anything else. While there are worse things in life than debt, this doesn’t mean it’s something that you actually want on your record. So, if you’ve got a little more money and you’re looking for a good way to spend it, clearing as much of your debt as you can will be a great start.

There are too many people who will just throw this money down the drain, not touching even a small part of their debt that is slowly eating away at their credit score. You do not want to be one of those people if you can avoid it. Instead of throwing your cash around, try to come up with some kind of plan in which you pay a certain amount now, and then the rest in monthly installments that are affordable to you.

Think About Your Interests And Invest In Them

money management tips

Photo by Tima Miroshnichenko on Pexels

Finally, we’re going to mention your interests. It’s not careless to throw your money at the things that you enjoy, and that bring you happiness in life. For example, if you have a hobby, then you can invest in this so that you can either become the best, or simply just to spend a lot of time doing what you love. Make sure though, that you are keeping an eye on this as the last thing that you need is to turn this into some kind of obsession.

Investing in your hobbies could mean a number of things. It could mean that you are purchasing the equipment and products that you will need to be the best, or it could mean running a group of some description related to your interest. Either way, if you’re putting money into this, and you’re enjoying it, that is all that matters in the end.

We hope that you have found this article helpful, and now see some of the things that you should think about if you’re known to throw your money about without a care in the world. Each point on this list are things that you should be focusing on when it comes to spending your money, ensuring that you’re spending it in the best way possible. Of course, we’re not saying that there is a right or wrong way to spend your money, but we don’t want you to be careless with it, and then regret it down the line. We wish you the very best of luck, and hope that this makes you think just a little harder about how you’re spending in future.

Read more lifestyle articles at Cliché
Images provided by Flickr, Unsplash, Pexels, Pixabay & Creative Commons

About Author

I'm an interactive digital experience bringing you the latest in fashion, music, entertainment, art and social media & technology. I was created in 2009 in the hopes of making your life more fun by giving you a media consumption experience unparalleled to any other.