When it comes to our personal finances, fighting ourselves rarely goes well.

The fastest path to results is to accept ourselves, and take small steps towards change.

So whether we’re more of a Spender or Saver type, here’s some ideas on how to counterbalance to achieve results.

SPENDER type :

Pitfalls : Avoidance, too much risk
Areas to improve : Saving / Budgeting
Balance with : Expense tracking / stable savings & investing weightings.

Spenders may benefit from making this as easy as possible to achieve results in, without the constraints of strict budgeting.
Starting with expense tracking and tallying today, tomorrow, onwards. With a running tally too.
I started this on paper, and it made an impact to see it all there in writing.
Now I use iXpenseit app, which has cute graphs and can photo receipts.

A budget that might work for this type is the ‘No Budget budget’ – allocate savings and necessities, then spend the rest as you like! We cover this and a few other options in the Budgeting pillar.

Spenders may also benefit from checking their balances are stable in savings & investing too.
Ensuring there’s 3-6months emergency fund in case accessible within 24hrs by either party in a relationship. (Which we cover in the Savings sampler and full pillar)
And building in boring stable investment diversification as recommended by our financial advisor, so we’re not too heavily invested in risk areas. Here’s my article on why that’s a huge avoidable money mistake.

Try the Savings / Budgeting samplers for insight and ways to make this easy!

SAVER type :

Pitfalls : Fear, hoarding money
Areas to improve : Budgeting / Investing
Balance with : Education / Practicing spending in comfortable ways

Savers might want to increase familiarity to an area they’re curious about, and continue exposing their brain to education on the topic.
This neuro-hacks the fear by using exposure familiarity to increase our comfort levels. In turn, this can help us feel more comfortable moving forward and making decisions.

If we save a lot but hoard money (watch out for the trap of hoarding in savings and losing money by depreciation!!), we can try using money to buy experiences in the least stressful way possible.

For example, holidays at all inclusive resorts, or buffets and set menus. Practicing using our spending muscle on valuable, fun, memorable experiences will help train our brain that it’s safe to use money in this way.
And making an effort to allocate money in the monthly budget to spending on FUN.

Try our Money Mindsets / Investing free sampler for a peek into your current status.

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Thank you in advance for sharing our free samplers, or making the effort to try apply our 5-Pillars in your own life!

Here’s todays live video :

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