Pay day – why you don’t have to spend it all (even if you want to)

You know that day we all pray for, the day that trumps all other days of the month. Yes, that is right – its pay day! By now most of you will have been paid for October and are itching to think of ways to spend it.

We are all guilty of saving images or products, holidays and events we want to attend once we have the dollar bills in our pocket. But, are we also guilty of spending our wages and are left the last two weeks of the month skint and getting friendly with our overdraft? Yes, you are all secretly nodding and shamefully checking your banking apps. Why do we do this to ourselves? We know we will get stressed at having no money plus, events and spending opportunities don’t stop the last two weeks of each month.

This may be an unusual blog for a recruitment agency to post but, we are all about helping about candidates and clients not just for finding new jobs. But for you to be happy and balanced in every aspect of life.

We are fast approaching 2019, (eek!) and just like every year we promise to save money and not spend it all. Let’s do this together and get our plan of action ready early!

The benefits of putting a little money aside each month

There are huge benefits to saving your money, if not being stressed is not enough then here are a few more:

• No need to shut yourself away! When it gets past week two of the month and our purses are empty we tend to stop going out. We eat left overs and tinned food to last until the 31st when we can splurge on Nando’s and extravagant dinners. But saving a bit aside can mean if an amazing opportunity comes up you have money to fall back on.
• Future opportunities! I know, this is adult stuff here but at some point, you will want to buy a house, move abroad or start a family. So, saving money now even just a little bit can take the pressure away down the line. We all must be responsible at some point.
• Rainy day fund – if you are already a house owner, commute for your job or are thinking of changing careers, sometimes there may be a gap of no income. Be smart and put money into a savings account, that way instead of passing up on an incredible new job offer because it may mean a short career break you can do it!
• You can progress your career – how many of us have dreamed of taking on an extra qualification or attending charged events to meet your professional idol? Put your hard-earned wages into something worthwhile! Seriously, do you need another hand bag or expensive tie?
• The dreaded word – redundancy! (I promise I am touching wood as I type this to not jinx it), but what would you do if you lost your job? Unfortunately, companies do fail and brands can restructure, so if the worst happened would you be able to financially support yourself and your family? Food for thought!

Set yourself a goal and a reasonable target! Don’t put away half of your wages in the hope to save more faster, start off small and work your way up to when you get used to spending less. Over time the money left in your account will come to be the figure you live by, especially if you set up a direct debit so the saving is done for you! You control what happens in your life, don’t follow the crowd – look after you!