We’re not spending our cash the same way we used to. So where is it all going?
Trackpants, Netflix and zoom catchups have become the new norm. We’re no longer spending money on shopping sprees, going to events or on boozy nights out with friends. Our bank accounts must be jumping for joy, right?
Well that really depends.
How much attention are you paying to where your money is going now that we’re spending more time at home?
Are you fueling your online shopping addiction, renting an ungodly number of movies and practically dating your UberEats delivery guy?
Or are you diligently putting aside a little extra money so that when the sun comes out beyond this coronavirus storm, you can say yes to the next adventure that awaits you?
Hmm food for thought.
Yes, I’m a good little au pair.
If you’ve been saving your extra change as a result of staying home from the coronavirus, great work. You may pat yourself on the back, collect $200 for passing GO and continue on your merry way. You’re doing just fine. You’ll be high fiving your besties, sipping strawberry daiquiris on the beach and road tripping to your next destination in no time.
Help me, I’m one step away from au pair bankruptcy.
So, you got a little carried away for a second there, that’s alright. We all lose our way from time to time. The most important thing we can do is get ourselves back on track.
- Review your in-goings. Firstly, check where your money is coming in from. How many sources are there? Are there any ways you could increase this figure or add other revenue streams?
- Review your outgoings. Review the last couple of months and make a list of exactly where your money is going. What regular expenses do you have? Do you have any direct debits? What can you reduce or cut back on? What is unnecessary?
- Set-up and boost your piggy. Do you have a separate account, system or space for saving money? How much extra could you really be saving? What’s realistic? What would you like to be able to do in the future?
If you start now, in just a few months you could have yourself a nice little security blanket. Just imagine how much pressure it would take off knowing you can afford things later on when coronavirus restrictions are lifted. No more stressing out or feeling embarrassed and a lot more YES – to your next adventure.
Plus, the next time your friend says they don’t have enough coins to pay for their coffee, you’ll be able to tell them not to worry about it and actually mean it.
Now there’s a warm and fuzzy.