Keep Working and Keep Spending to Stay Financially Afloat

Keep Working and Keep Spending to Stay Financially Afloat

A couple reviewing what money they brought in and spent to see if they can remain financially afloat.

Different people manage their finances in different ways. You may come across people who always keep track of their finances but never have any money to spend and people who never seem to run out even though they have no idea how much they're spending. Obviously, the people who don't have financial issues are doing something right (assuming they didn't inherit a lot of money or win the lottery). So it helps to take a look at their spending habits and figure out how exactly they're managing to stay afloat. Here are a few offbeat financial ideas that might help you stay financially afloat.

Keep Working to Stay Financially Afloat

This might seem like it goes without saying, but a lot of people stop working when they find that they can't get the kind of job they want. They might feel like a certain job isn't paying them enough, so they don't take it up. Or they might not feel very interested in the job that's being offered to them, so they refuse it.

But if you look at people who always have money, you'll find that they keep themselves busy making money. If they're not working at one job, they're working at another to stay financially afloat. And if they stop that job too, they might start investing their money. Or they might start a small business. They're always doing something which has the potential to make money. They never give up altogether, whether they're in the middle of a pandemic or the economy is in a slump.

So think about it yourself. Have you been turning down job offers and then wondering why you don't have money? If so, then go ahead and take up one of the jobs you were offered. It doesn't matter if it pays less because it might lead to something that pays more. Or something new might come along later. The important thing is that you keep doing something that makes money, even if only a little of it.

Keep Spending to Stay Financially Afloat

If you think a great deal before you buy anything, you might not buy anything that day. After you've repeated this pattern, you'll feel so deprived that you'll go binge shopping. Thus, spending much more than you expected to spend!

Instead, it makes sense to stop deconstructing everything you spend money on. If you need something, it's pretty simple. Spend money on it. If you think that you're going to use something and it's going to improve your standard of living, go ahead and spend money on it. The more you hesitate and prevent yourself from buying things that you really need, the more likely you are to binge-spend later on.

Avoid Impulse Buys

If you want to prevent binge-spending, you can decide, before you go out, how much you're going to spend on food, clothes, office supplies, etc. Once you know your budget, don't go over it to stay financially afloat. Don't go for "impulse" purchases or spontaneous purchases unless you are 100% sure that they are going to be useful.

Let's say you need a pair of shoes. You probably know, off the top of your head, how much shoes cost in different stores. So think about shoes that you've purchased from different stores in the past—how do they look and how comfortable are they? Then decide, before you even go out, where you're going to buy your shoes from. You might miss out on the pleasures of browsing, but at least you'll never go over your budget when you follow this technique.

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