Focus On The Little Things

Focus On The Little Things

Since Facebook’s Trending headlines section is here to stay, there’s no escaping the latest Trump flub on the political world stage, news about another gun massacre in the States, or the ravages of Hurricane Maria. By comparison, the fake news of click bait is now a welcome relief!

Unless you’re reading about a Millennial who managed to retire in her 30s and who’s travelling the world on her millions. Or the other young professional who made it rich with very little effort. Or the couple who don’t work yet somehow live in a Manhattan penthouse.

Click after click, you open these articles hoping to find a financial secret to riches. And click after click, you realize the heroes of these stories rarely have hard work and ambition to thank for their fortunes. These articles almost always reveal how the individual came into a huge inheritance or how they snagged a $100k job right out of university thanks to mom or dad.

Click bait, while great for showing you how cute raccoons are when they eat, isn’t an effective financial tactic. There’s no single secret to your finances. Your finances are a product of thousands of tiny decisions. Make enough bad choices, and you’ll have less money than you want. Make enough good ones, and you may have enough to retire one day.

When it comes to your budget, the little things count, but like a single grain of salt, these little things aren’t always easy to spot. The big things, like how we want to avoid credit card debt with a payday loan or how we want to save for retirement, are obvious! What small decision in your day will get you there is another story all together.

If you’re having difficult identifying the little things, take a look at this quick list of tips that will put you in the right direction.

Stay off social media: Keeping up with the Kardashians will cost you. If you follow the world’s richest people, you’ll feel envy over their perfect selfies and pics filled with product placements. Before you know it, you’ll be making costly mistakes just so you can emulate their lifestyle.

Rather than follow Insta’s richest people, follow the thrifty side of the app. There’s another side to IG that can help keep you grounded.

Cut cable: Every year, hundreds of thousands of Canadians cancel their cable subscription. And for good reason. Even with the CTRC’s involvement, it’s difficult to find a package that fits a modest budget. You can only watch one channel at a time, so there’s no need for a package of 3,000 stations.

Think about cutting the chord and replace your TV with a streaming service like Netflix. Despite its recent price increase, its $10/month is still miniscule in comparison.

Save your change: After you buy your pumpkin spice latte or that chocolate bar at the gas station, what do you do with your spare change? If you’re like most people it goes straight back into your wallet to be spent on other frivolities.

Try saving this change with every cash purchase you make. Eventually the loonies will add up! Some of the nation’s biggest banks also have a digital version of this with accounts that will round up your debit purchases and invest the difference. Or you could download an app like Mylo that does the same thing for any account you give it permission to link.

Though small, these are often habits we barely think about. Now there’s the key in saving more money: thinking differently. Approach your finances with a creative mindset and search out other ways—small and simple—that can help cut down on your expenses and save you more. Your task won’t be easy, but it’ll be a great distraction from the bad news in the world and provide a better strategy than any click bait article!