Money Stories | 1 min read

Money Stories - I wanted to preserve flexibility, but that option did not come cheap!

People who know me and work with me generally appreciate my ability to get things done. But, the key ingredient for that to happen is a deadline. Without one, the engine's idle.

What does that mean for my money? Often I'm getting things paid on deadline (or after!), not because I don't have the funds or wouldn't want to pay. But rather the ability to focus on the activity of paying is the hurdle. It's admin -- who get excited about that.

There's a price though. Especially when the unexpected comes-up, there may be no margin for error. Fees or penalties can rack up.

One story crystallised this perfectly. I had a trip to visit family that I wasn't 100% sure I could make -- partly because of work and partly because it was "extra." Time came and I could get away for those days, so I'm sitting at the airport. Then I realised, I hadn't completed the purchase of a return flight! Sitting at the airport and waiting for my outbound flight to be called, the return leg I bought was a one-way, last minute fare that was nearly as expensive as the rest of the trip together.

I wanted to preserve flexibility (beyond a reasonable limit), but that option did NOT come cheap!

What is your biggest struggle with money?

Procrastination.... I reconcile myself to paying more than I need to, because I'm focused on one thing at a time.

What is your tip to help others save?

Set-up payments, deposits, savings, etc. to happen automatically. This avoids late-fees and missed payments simply from getting too busy at the last moment. There's a lot of compelling data behind "nudge" thinking.

This money story was written by Anonymous. 

 

Do you have your own money story to share? Share your story here.  

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We hope that by sharing stories we can help break the taboo around talking about money, inspire others to share their stories, and ultimately encourage people to take control of their personal finances.

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