Expert Resources

Short-term Pain means Long-term Financial Gain

I’ve never been one to succeed much at sport or exercising for long periods. But I know small and steady wins the race. It’s definitely painful for me to exercise, my feet ache, I feel awkward in the Zumba class, and can never run fast enough in team sports to actually get to the ball, let alone return it in a seemingly painless looking manner.

Carol Yang

I’ve never been one to succeed much at sport or exercising for long periods.  But I know small and steady wins the race.  It’s definitely painful for me to exercise, my feet ache, I feel awkward in the Zumba class, and can never run fast enough in team sports to actually get to the ball, let alone return it in a seemingly painless looking manner.  Tennis is a great example of this, however I understand the long term benefits of my Zumba class, spin sessions and tennis with the girls.  I understand that although this stuff does not come naturally to me, I need to go through this short term pain to achieve the health and longevity I want and deserve in my life.

Just as sport is painful so too is trying to save and afford a lifestyle that fits in with your current pay!   One tip I use when it comes to being able to save and manage money effectively so you can learn to make it stretch each month, last the duration and become a healthy habit is to use cash.

Using cash has so much power.

I remember that Noel Whittaker, in one of his books, wrote that if you use cash to pay for items, you will feel more pain and therefore spend less. Now, I’m not sure if Noel’s words ring true for you, but I certainly find this works.

Here is what wI suggest to clients who struggle to manage their money.

  1. Take from the bank only what you need to spend each week for “fun”
  2. Take this out on Monday
  3. Make this money last until the following Monday
  4. Try spend less at the start of the week accumulating more for the weekend ahead
  5. Reduce a coffee where you can, and treat yourself to a lunch out every second Friday instead of with the work mates every day!
  6. Focus each week on saving more and more for weekends and you’ll soon find the aches & pains of spending your cash become part of the ritual or habit – as easy as exercise or sport may be for you (certainly not I)

We have used this method and researched it with clients in the past and the ones that stick to it – seem to put away a lot more savings than they ever knew possible.  They simply didn’t need to draw more on the weekends after a few too many cocktails!

They soon found they became more concious of what they were spending AND what they actually had to spend.  The results seemed to surprise themselves, but mostly the awareness and excitement of savings became more of the motivator than spending.  If you use cash, you feel more pain, so spend cash on luxury items and “fun” and see how little you can actually spend when you are truly conscious of its worth.  Plastic is fantastic and convenient but encourages us to spend way too much over our limits.

Go on I dare you to try spend cash!

Report back as to how you found the experience and if it works for you. We’d love to know!

 

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