You’ve read our What kind of relationship do you have with money blog, and you’re in a ‘casual’ relationship with money. So, what’s next?
What is a casual relationship with money?
If you’re in a casual money relationship, your bank balance is rarely the first thing on your mind. It’s nice to have money around, but you’re not one for keeping track of it’s coming and going. Of course you’ve saved for things in the past, but your bigger saving Goals are still far off in the distance.
How is your casual relationship with money affecting your savings?
Your casual relationship with money might be working out at the moment, but what if something changes down the line? Developing good saving habits is a skill that can help in any number of situations. Let’s take a look at some examples:
Scenario 1: An unexpected bill
A bill comes through the post, but you’re too busy to deal with it at the time. You set it aside and forget about it. The next reminder you get is at the end of the month, and you’re warned that if you don’t pay now they’ll charge you extra. You don’t have a savings pot, and you need the money you have to make it to payday.
Scenario 2: A last-minute getaway
Your friends want to book a last-minute group holiday and usually you’d be the first to say yes. But you’ve just splashed out on a spontaneous shopping trip and you’re already a bit short on funds. Guess you’ll have to sit this one out…
Scenario 3: That saving Goal
Things are getting serious with your partner and you’re ready to start saving for a deposit. Problem is, you’ve never tried to save for something so big before, and you’re finding it hard to cut down your everyday spending. You wish you’d started building these habits earlier so it didn’t feel so overwhelming.
How to harness your money relationship
Harnessing your money relationship can feel intimidating, but it doesn’t have to be. Download the Yolt app and discover how features like Budgets, Jar Boosters and Habit Builders can help you make everyday saving feel like a breeze.