Don’t even think of relying on a guy to save you from financial ruin. As money guru and author Melissa Browne explains, it’s easier to save yourself.
Don’t even think of relying on a guy to save you from financial ruin. As money guru and author Melissa Browne explains, it’s easier to save yourself.
Sleeping Beauty was awoken by a Prince, Snow White was brought back to life by a royal male heir, and Rapunzel was rescued from her tower by – yep, you guessed it – yet another Prince.
When we’re brought up on a steady diet of fairytale endings like these, it’s no surprise many women are passively waiting for their own knight in shining armour to charge up on his white horse (or in his white BMW) and save them.
If we’re not careful, our subconscious can sabotage our future happiness and security. This kind of thinking can lead to YOLO and FOMO spending that lets us have our pick of the season’s best fashion now, but leave us broke further down the track.
Fairytale future
So what’s a good way to find your perfect ending? Become your own Prince Charming. Act as your own financial white knight and make sure you’re having a great time now while setting yourself up for an even better future – regardless if a real prince appears or not.
It all comes down to one word: planning. While the thought of contemplating about your finances and future can be daunting, but if you don’t start, you can’t ever plan.
So instead of being a passive princess, you might find yourself more of a desperate pauperess – and nobody wants to play that character. So, ask yourself:
What do I want?
Think about what you want to be doing in three years’ time. It’s a hard question to answer, but it’s a great one to start with because it forces you to work out what’s important to you. If, in three years, you want to finish a degree or buy a home, at least you’ll know what you’re aiming for.
What do I need?
If, in three years, your plan is to go overseas for six months, work out how much the trip will cost. Or if your plan is to start a business in 12 months, sit down and work out how much money you’ll need to get started and to save. Don’t skimp or be unrealistic – be very generous with your estimates because you’d rather have too much money than not enough.
How do I save?
Once you work out the amount you need to save, start saving by setting up an automatic transfer. That way, the money will be taken out of your account and deposited into a savings account that you don’t have access to on a daily basis. If you don’t physically see the money, you won’t be tempted to spend it impulsively. Outta sight, outta mind, right?
How will I stay on track?
Sometimes, having a longterm goal can be tough to stick to, so print out pictures of what you want to achieve with the amount you’re saving and stick them up where you’ll see them every day, like above your desk or on a mirror. This will help you stay motivated and inspired when yet another ASOS or Topshop package arrives on your co-worker’s desk.
Happily ever after...
All this healthy financial behaviour means that if or when you do meet your own Prince Charming, you’ll enter the relationship as an independent woman, not a damsel in distress.
It also means that if he is a dirt-poor musician with piercing eyes, boyish charms and an empty wallet, you will be empowered to rescue him instead! Either way, you’re a princess with freedom and options. Now that’s a fairytale ending!
Wallet Wonders
If you need help in the savings department, these apps (available on iOS and Android) are what you need. Better yet, they’re free.
Wally
Get close and personal with Wally – he’ll track your income and expenses, then project your savings each month. Budget sorted.
WhyMoolah
Learn money management the fun way with this life simulation game. It uses real-life data and prices, so you can get a feel for what it might take to hit your financial goals.
Dollarbird
This easy-to-use app takes the pain out of figuring how much you should be spending and on what. It won’t judge your margarita fund, either.
