Money can make us feel very unsafe. You might constantly be worried about what you’ve got in your bank account, or you might be consistently paranoid about losing that spare change you’ve got in your pocket. Or maybe you can’t get your mind off of all the little grey and darker areas of the financial world, and you’d do anything to make sure you can avoid them!
This is why it’s important to try and promote a greater sense of safety around your money, and how you handle it. After all, the more secure you feel with the accounts in your hands, and the money you’ve got stashed in the piggy bank, the better! Even when you’ve developed a few bad habits over the years, there’s nothing to say you can’t change your tune a little.
This is a collaborative post.
Table of Contents
Rely on those around you
To hold you accountable, above all else! If you’re able to rely on your friends and family to keep any excess spending in check, you’re going to be on to a recipe for success with your finances. Maybe if you have the pressure of your mother or your best friend needing you to pay for a meal at the end of the week, or footing the bill for shopping that week, you have an incentive to keep your money with you.
Guilt is a pretty strong emotion, and it’s not something we want to feel, so if you’re able to take advantage of that, you’ll feel a lot more secure about your money! You’ll be able to give yourself a gold star at the end of the week in the form of fulfilling the responsibilities you agreed to.
At the same time, if you have friends and family who are aware of any monetary struggles, and want to help you get better with your financial control, be sure to reach out to them for help. For example, if you’re looking for a loan, you’re going to want to check the closest sources to you.
Lock away your safety net
If you manage to put away a bit of money every month, simply because you know it’s better to put the cash away then spend it and be without it later on, then now’s your chance to lock away your safety net. And no, you don’t have to invest in a safe and then throw away the key. But if you like the idea of having a secret safe hidden behind a painting in your house, go for it – whatever works for you!
Instead, you could take a different type of savings account. An ISA that allows you an interest bonus based on how long you leave the money alone could be of great use to you here. After all, if you access your savings within a year or so of opening the account, you lose any and all benefits associated with putting your cash away – if you’re trying to feel a bit safer about your money, you definitely wouldn’t want that!
And now you have an incentive not to reach out and use the cash before you actually need to. At the end of the interest term, you might even have managed to double your money, which would be a pretty big deal.
Buy cheaper, save better
And of course, if you’re able to slash your shopping bills month by month, the more’s the better! Because if you buy cheaper versions of the items you love, and you go off-brand as often as possible, you’ll have a lot more money left in your bank account, right where you like to see it.
Of course, we all have our creature comforts, and you don’t have to cut out everything you love. But if you can cut two or three items off of your list, and replace them with a cheaper version, just for a week or two, the pounds and pennies will really begin to add up to big money.
How safe do you feel around your money?
From a young age, we can be taught that money is a scary thing to take care of. It can go in and out of your hands faster than you can even say the word, and who knows how well those investments you’ve been planning are going to go!