3 Unconventional Money Habits That Can Transform Your Financial Wellbeing
These are money snippets I’ve picked over time which have really piqued my interest because I think they could have such a killer effect on your money .
Would You Buy This If You Couldn’t Show It Off?
I wouldn’t particularly consider myself somebody who was swayed by other people’s opinions - I’m not bothered about or aware of brands really, I couldn’t really be a true fan of anybody because I don’t remember names and make connections in that way, so I always thought I was sort of immune from this ‘keeping up with the Jones’s’ thing.
But when I first heard this question, something about the way it was posed made me realise that I am choosing to portray something when I buy. I want the world to know I have good taste, I’m ethical, I’m eco-conscious for example. It might not be quite the same as wanting the world to know that I have £300 to put down on trainers but it still shapes my buying descisions so it’s worth thinking on.
Your answer to this might affect:
Whether you buy something.
How you buy it (i.e. is it really worth putting it on credit, or could you save?)
What version you buy (i.e. is there a second hand version which could do the job?).
It’s an eye-opener, hey?
Never Buy Anything After 9pm.
I’m not a fan of ‘nevers’ actually, but it’s a ‘rule’ to deal with impulse purchasing habits, so that’s how it’s couched.
The idea is that it’s the late night purchases which are less thought out, more emotional perhaps. I am definitely the kind of person who has a rush of wanting to sort my life out and be a whole new person at one in the morning when I can’t sleep and if I were also an online shopper then I can see that going a certain way!
Another related rule I saw was, never to buy anything on a Friday. This person made a connection about when their impulse purchases happened and so that’s the rule they made and it worked for them!
When do you make your impulse purchases? In the hour that you’re hanging around town waiting for Brownies to finish? When you’re out with that one friend? When you’re Christmas shopping?
The point is not to stop something joyful - a random purchase at 1am can be a thing of beauty when it turns up on the doorstep - it’s to reduce spending behaviours that are harming your finances or stressing you out, and to leave space for guilt free joy in the budget.
Invest In Your Life-Partner.
I was actually going to write - choose your life partner carefully - and I’m sure I’ll talk about that one day because, blimey, relationships and money is a biggie! But as I was chatting around this with a friend we both agreed that once you’ve made that decision, it’s on you (and them!) to nurture it - in so many ways including financially.
Are you open about your finances? There will be a million different ways that this could look but I’m talking about not letting little things grow into grudges.
Are you letting them know you care about them? Little gifts, or time, cards, words - whatever works. Who you spend your life with, marry, have children with, meld your finances is a huge factor in your financial life chances, for better or for worse so investing in them and your love together is absolutely worthwhile!
Relationships are hugely affected by money (money issues are consistently cited as one of the main reasons for divorce in the UK) and so it makes complete sense to cherish both sides of that equation - the money and the relationship.
A little bonus unconventional money tip is to build your self confidence and I’ll be talking about why that’s imperative for your finances in tomorrow’s mailing list. Are you signed up?
Love Eleanor. xxx
