Do you think that being financially responsible will turn you into a boring person? One that can’t have fun because you’re on a budget, or will stop doing the things you love because they cost too much?
Well… let me tell you!
Being financially responsible means you can have exactly what you want – all that fun, the good meals, going out. It just means you’re doing it intentionally, and not wasting bits of money on other stuff that’s blah or that’s not right for you… such as paying too much insurance by paying Lazy Tax (Barefoot Investor calls this the amount where you haven’t even bothered to ask for a better deal and just pay the new premium – which has gone up again).
Being financially responsible means that you can have fun – and probably more than before.
Being financially responsible means that you have control over where your money goes, and you’re spending it on what you want to focus on.
What It Actually Means
Yes, there’s some work to do to become financially responsible, but once you’ve set up a system, it’s easier (and quicker) to review on a regular basis.
Being financially responsible does not mean complicated spreadsheets, or delving too much into a detailed analysis of your finances. Close enough is good enough – especially with the cost of living fluctuating. It means that you know what you want to spend your money on and how to make that happen.
It means making sure that your super money goes into your super fund and calling out your employer if it doesn’t.
It means setting up buffers so that you aren’t stressed out when shit hits the fan, or fuel prices go up by 20%.
It means understanding where your money goes, so you can make decisions about whether it’s a priority or not to spend there – and then taking action to cancel a payment that you no longer want to pay.
Disclaimer: This information is general in nature and doesn’t take your personal circumstances into account. Always seek professional advice for your specific situation.
