Money Management

This blog post has been requested a lot from readers both inside and outside of the club. I understand why, when I was growing up my mother used to tell me that money burnt a hole in my pocket (because the minute I had any it was spent). I’m an impulsive person and i love buying things. From discount stores to high street, I WANT IT ALL! I also cant say no to a bargain, I love watching tv shows like extreme cheapskates and extreme couponing. I’m actually really jealous that couponing isn’t a big thing in Ireland.

I’ve learned how to spend wisely in the last few years and I’m here to spread my wisdom with anyone who needs some help with managing their money. I’ll be sharing my advice on everything from how to save and where to spend so keep on reading if you want to find out a bit more.

First things first, be honest with yourself about spending. I used to be that person who ignored my bank balance and played Russian roulette when paying for things. I would just pop my card in and cross my fingers hoping that the payment would approve. On the occasion where it would decline I’d act shocked and pretend that I had no idea what was going on. It’s awful, you’re in the queue at Aldi and you’ve made a miscalculation. There’s a line of irritated shoppers waiting behind you. That’s when it happens, Your card declines! Your hands are sweaty and you feel like an idiot. The cashier says “Don’t worry, it’s probably just the machine”. But you know the truth, it’s not the machine, your spending is out of control and you literally want to run for the hills screaming. Ok, it’s not really that dramatic but it feels pretty shitty at the time.

I don’t like to use the word “budget” because I feel like I’m limiting myself but sometimes you just need to be realistic. That new jacket can wait until next week if your rent is due. It’s important to know how much money you need to get through your week and spend accordingly. It’s pretty boring but hey, welcome to adulthood!

Don’t spend the money if you don’t need to. Bargain stores are your best friend. Why pay €16 euro on shampoo and conditioner when you can get both for half the price at a discount store? My shopping routine is a little something like this: Hygiene, snacks and cleaning products are bought in places like Dealz & Mr Price. Fruit, Veg and condiments are purchased at Lidl or Aldi and anything that I can’t get at the above eg. dairy free products or specific alcohol can be bought at bigger supermarkets. So basically, stay away from expensive supermarkets as much as possible.

Now that you’ve got all that extra money lying around you are free to treat yourself! Money is for spending after all but figure out what the necessities are for you. When I started dancing I went CRAZY with my spending because I could but in the end I didn’t have much to show for it. Things I now spend money on are getting my bikini waxed monthly, my hair done professionally 2-3 times a year and certain cosmetics. Some of my favorite make up comes from NYX, it’s cruelty free and really reasonably priced. All of my work outfits come from online or discount stores. I don’t see the point in spending lots of money for work because men don’t know the difference anyway.

One thing that helps me save money is that I only spend my tips. This one is aimed at dancers and anyone who works in hospitality. When I’m working I don’t count my tips in my overall income. Bigger bills go straight in my safe, 20s, 10s and 5s go in my wallet. I completely forget about the safe money until I need to pay for something specific. I also advise to keep your savings in cash or deposit them in a credit union. If you’re anything like me I spend too much when I have money in my bank account because I can’t physically see it and it’s too easy to access. Spending in cash means I can only bring a certain amount with me and I can’t over spend.

Summary:

  • Be aware of how much money you have
  • Discount stores are your best friend
  • Treat yourself wisely
  • Dont keep your savings in your regular bank account

If you enjoyed this blog post let me know in the comments or by spreading the word online. Do you have a blog idea or submission? Visit the contact page to get in touch!

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