Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
It is very difficult to feel like you need to keep up with the joneses, you see the latest gadget advertised on the telly, or you might see it on a social media post and you feel like you must have it now.
The race to acquire material things which at the time seem to mean the world to us can cause financial hardships leading to many people having to seek out payday loans“>.
The temptations are everywhere, from the moment we wake up to the moment we close our eyes. There is a constant stream of marketers telling us that we must have it, got to have it, don’t get left behind, be one of the cool kids, 0% finance today, nothing to pay for another 5 years.
Deals designed to lure the money out of your pocket, money which in truth we should not be spending on frivolous expenses but to be put towards more legitimate ventures such as saving up to buy a house or flat, maybe to make the next mortgage/rent payment or even just to afford put food on the table.
Many people find themselves caught up with having to feel as though they are failures if they don’t sport the newest phone or latest trainers. When all is said and done the only winners are the shareholders of the giant global corporates who peddle such nonsense.
So, the question is really how do we stop falling into the trap of spending money that we don’t have or can’t afford?
Read on and hopefully this article can help to get you out of that spending rut.
Yeap, good old boredom, how many times have you found yourself down the local shopping center out of sheer boredom of having “nothing to do” and before you know it you’ve just put another £100 on the credit card?
The question becomes how to fight the boredom without spending any cash? This is an easy one. Take up a hobby, we know it sounds silly, but hobbies need not require you to invest thousands of pounds to get started.
Here is a list of hobbies you might consider:
Making gingerbread houses
Building a dollhouse
Crafting (to sell online or at fairs)
Garage sales and auctions (find bargains and antiques for resale)
Freelance photography (weddings, babies, events)
Research and create a family tree
Learn about astronomy
Build model rockets
Start an aquarium
Skiing or snowboarding
Spend time, not money! Here are some activities you can do, even if you don’t feel like spending a lot of cash. These are the things that give you the most “bang for your buck.”
Once you find a hobby you enjoy the boredom that took you down the shopping center will be a thing of the past.
How many times have you looked in the mirror and thought to yourself that tomorrow you will start exercising?
There is an old saying that an amateur is someone with a million ideas which they will start tomorrow. Don’t be an amateur. You don’t need to join a gym to exercise. A brisk walk around the block is as good as a brisk walk on a tread mill and it’s free.
Nothing like a good old clear out. Hit those cupboards, rooms, loft, shed, garage and get rid of anything you don’t use or need, either stick it all on eBay or donate it to charity.
You never know what you will find hidden away and it might even rekindle an old interest you once had. Some people follow the 1-year rule which goes like this, “If something has not been used for two years then either sell it or donate it”
If its one thing which will lead to spending more money is watching the telly. Too many reality shows with celebrities flaunting their wealth in the faces of others can make us feel inadequate. We feel bad that we do not have the large 5-bedroom house in town with the sports car on the drive so we try to make ourselves feel better by going out and spending money which could be put to better use.
Going cold turkey is tough, so try to designate a day per week where the T.V is switched off, then try two day then extend it to weeks at a time and fill those hours with exercise and your newfound hobbies.
We forget how much fun it is to talk. Make time during the week to meet up with friends, have them around for tea and biscuits. Go for walks, take up shared interests. This alone will help wean you off the telly.
Spending when your are bored can lead to large bills at the end of the month, some people who would have otherwise have had the money to pay for the essentials find themselves in situations where they have to take out