Money should be fun - Part 2

You might well ask the question? How can money be fun, obviously it cannot be fun in itself it is merely a means of exchange of goods and services but how we use our money can make our own lives and the lives of others more fun.

I do not know about you but I find February the most gloomy month of the year and so I use it, or certainly used to use it, pre-pandemic to plan holidays and trips. I then had an annual  plan and I knew what the trips were going to cost and I would save accordingly or allocate a certain amount of my existing savings for this purpose. I talk to a lot of people about their finances and one of the things I notice is that people say things such as ‘I really should save more’ or I think I could save £100.00 a month’ , what they fail to do is to put a ‘purpose’ to the saving, what is it for? Once you put a label on the savings, ie it is for a holiday or to take the kids away or so you can retire early, the savings has a life of its own and becomes more interesting. You are then keen to check how the fund is performing and to add more if you are able in order to achieve your goal.

My message for this month is to give a label to your savings, ask yourself why are you saving, are you reaching your goal, this will make saving more fun because you are visualising how your life will be improved even for a short time, when you spend it.