Apr 29, 2018  | Tags: budgeting, financial planning

Our Insights

Most people think that saving and focusing on growing your wealth involves cutting out just about everything fun in your life.

But we're here to tell you it isn't so!

So how can you get the most out of life while still kicking your financial goals?

Here are some important things to keep in mind and tips that will help you enjoy a great lifestyle while saving more and making smart financial decisions.

Firstly, Make a Plan

You have to keep track of your money if you want to spend it wisely. Careful financial planning will help you manage your wealth so that you can save up while still affording to have fun in the meantime. With a plan, you'll know what you can afford to spend on your lifestyle, and what you should be allocating to expenses and savings. 

Resist the Urge to Compare

Social media makes it easier than ever to compare your life with others’. But what you see on social media is not a fair basis for comparison. People post photos and statuses with filters and comments that can make their situation look far more glamorous than it actually is.

Comparing yourself with others puts pressure on you to spend money you don’t have on things you don’t really need.

Strive for Experiences, Not Things

Money can buy things, but material possessions wear out with time. What money can’t buy is time. How you use your time and the kind of experiences you have in life are far more valuable than anything you could buy. Experiences don't need to include expensive travel or other costly ideas, as we'll explain. 

Connect with Nature 

Getting outside is good for your mental, physical and emotional health. It helps you refocus on what’s really important and eases stress and anxiety. Best of all, enjoying nature is free! Go to the beach, hike or ride a bike the next time you’re looking for something fun to do - it doesn’t cost money and is good for the soul!

Learn

There are so many cheap and free opportunities to exercise your mind and stay entertained. Museums, for example, can get you a good dose of art, history or culture without breaking the bank. 

There’s also nothing like a good book from a free library. Unplug from the Internet for a day or two and soak up the written word.

And on the internet, there are endless free courses and fantastic content that will help you grow personally and professionally. 

Spend Time with Friends 

It costs nothing to enjoy the company of true friends. You don’t have to spend a lot of cash to have a great time together, either. Plan a backyard barbeque as opposed to an evening at the pub. Grab coffee and chat instead of an expensive brunch. 

With a little creativity, you can surely think of other fun activities that cost virtually nothing.

For financial advice that fits with your lifestyle and plans, contact Calder Wealth Management.

Call us on (08) 8373 3333 to schedule your free initial appointment.

Written by Ben Calder, Private Client Adviser at Calder Wealth Management.