After getting paid, in which order do you spend your money?
- Save/Invest, Pay bill, Buy things I want, No debts
- uy things I want, Pay bills, Debts can wait, What’s savings?
- Buy things I want, Pay bills, Pay debts, Save/Invest
- Pay bills, Save/Invest, No debts, Buy things I want
You’re due for an upgrade on your phone. Your current one still works but you’ve had an eye on a newer version. You decide to…
- Get the upgrade… after all, you’ve had the old phone for so long and the new one looks awesome.
- Keep the old phone as long as you can — every month you put off the upgrade, you’re saving money towards a new phone.
- Yep Upgrade me! I guess I could sell my old phone if I have to.
- I knew I was due for an upgrade but my phone still works well. I will upgrade, but not right now.
It’s time to go grocery shopping. Do you:
- Write a carefully constructed grocery list and price compare different stores
- Go to the nearest store with a general idea of what you need…you’ll figure it out when you get there.
- Buy what’s on sale…you can get creative with recipes!
- Who has time to grocery shop? Or to cook? Order in instead!
Congratulations– you got a bonus at work! What do you do with the money?
- Pay off any debts first then put towards saving/investments.
- Splurge on a night out or new outfit to celebrate.
- Straight to the retirement fund.
- Go shopping or plan a holiday — it’s well deserved!
You’ve decided to stick to your resolutions this year and get into better shape. You…
- Sign up at the closest gym to your home or office so there’s a chance you’ll actually go.
- Kick off your plan with new workout clothes from the mall for extra motivation.
- Who needs to pay to work out? I can exercise outside or at home for free!
- Do your research — take advantage of free trial weeks and search for the lowest monthly rates in the area.
Your friend’s birthday is coming up and you’re low on cash. You decide to…
- Make them something homemade…a DIY gift is thoughtful!
- Buy them an expensive present you know they’d like…you’ll figure out a way to pay it off later.
- Organize a group gift with your friends — that way you can all split the cost!
- Take them out for a coffee or a drink — it’s the remembering that counts, and we get to spend some time together.
Your friends are planning a dinner out but you’re dangerously close to exceeding your budget for the month, do you:
- Luckily I have some fun money set aside for these type of occasions.
- Ask a friend if they can pick up your tab — you’ll get them back next time!
- What do you mean ‘budget’? If everyone’s going out, I want to be there – I’ll just fill up on bread and order something cheap if I’m short on funds this week.
- Decline, send my apologies and offer to host a dinner party next time instead.
You find the perfect home, but the rent is way out of your price range. Do you:
- Look for a roommate to split all the costs with.
- Sign the lease anyway and hope for a raise.
- Keep looking, expanding your search to cheaper areas or smaller places– a nice place isn’t worth going broke over.
- You love it too much to let it go, so you take on a part-time job to make up the difference.
A new bill arrives, do you….
- Avoid looking at it, your afraid to know how much it is.
- Pay it immediately, you’ve been planning for it anyway.
- Work out who you can borrow money from to pay it.
- You go with the flow and pay what you owe.
Your child is BEGGING for a new toy he saw somewhere, and he’s been a really big help lately. But it’s over $100. You…
- Tell him he’ll have to wait until his birthday or put it on his Christmas list — let Santa deal with it!
- Help him count what’s in his piggybank and encourage him to save up the rest to buy it for himself.
- Just put it on the credit card. He’ll love it so much, and he’s only this age once — it’s worth splurging for even if it’s more than you can afford right now.
- Tell him it’s too expensive, but you can’t deny him. You’ll take a few extra shifts at work if it comes to that.