It’s been almost eight years since I began managing my personal finances. I can’t believe I’m getting closer to that decade mark! It’s been an enjoyable journey so far mainly because I had the benefit of realising at a young age that saving is key to being financially stable. The journey has only really just begun because I’ve started earning more than I ever have before. So how do I keep going? How do I keep working to improve my situation? View full article »
Tag Archive: spending
Recently I’ve started using my first credit card. The benefits of using a credit card can be huge for those who can control their use of one. Below I’ve compiled a list of benefits and possible pitfalls.
For my last birthday I received a book by Daisaku Ikeda called ‘A Piece of Mirror and Other Essays’. It’s a really nice book with a collection of interesting ideas that have influenced my thinking in a positive way. View full article »
Since starting work I’ve been keeping track of my spending but less frequently than previously.
In terms of how well I’m doing I can say that so far I’ve managed to take in a packed lunch everyday. View full article »
My iPod mini turns 5 years old today. Back in August 2005 I paid £139.99 for my iPod mini and to this day it still works. The sound quality is fine and it’s slightly bruised due to my clumsiness but all in all it’s healthy.
Next month my laptop turns 4 years old. Back in September 2006 I paid £499 for my laptop. Unfortunately, unlike my iPod, I can feel my laptop is wearing out. It overheats very quickly, the mousepad doesn’t work and it has one key missing. I must admit I’m sad to say it won’t last for much longer.
Even though I can tell that both of these items are old and in need of replacing, I’m adamant that I won’t replace them until they die. Whereas I might buy a mobile phone just before my other dies, I refuse to give in when it comes to my iPod or laptop. Why? Well, with my mobile phone I can justify an early replacement if it might jeopardise my safety. The whole point of my mobile is so that I can contact anyone at any time especially if I’m out on my own. If it dies then I’m pretty much buggered. My iPod is less of a necessity which is why I’m waiting until it completely breaks. My laptop has become somewhat a necessity but I can borrow my sister’s laptop to order a new one when the time comes to say goodbye to my laptop.
The point I’m making is that by delaying such purchases which can be quite costly at between £200 & £500 I would rather have that money in a high-interest savings account until I really need it. I’m not fussed about having the newest technology so I don’t mind waiting until I really need to replace those items. Using things until they break can help you build up more interest in the bank but it can also prevent you from joining many others in being obsessed with having the newest gadget. This isn’t necessarily a bad thing but it’s not a priority of mine…for now at least.
There are few changes you will notice once you leave school and start uni. One of the biggest changes will be the issue of money. Whereas the discussion of money has become somewhat taboo today there is a definite change once you start uni. View full article »
