The advice not to sweat the small stuff may be a great way to find your Zen, but it’s a quick way to find yourself in debt when it comes to the simple financial decisions you make every day. We’ve all heard of the unassuming butterfly, whose flapping wings have the power to create hurricanes on the other side of the world, or the pebble, which can ripple an entire pond when dropped into its waters. Though quite ordinary, these things have the ability to create a lasting impact on their surrounding environments.
The same goes for the way you spend your money. Sure, splurging on last-minute flights to Bali for an all-inclusive holiday in the sun is one way to drain your savings, but these huge purchases are rare. Most of us know we shouldn’t spend all of our extra cash on things we can’t really afford. It’s how we dodged the bullet that was the Fyre Festival — the elite concert experience in the Bahamas that turned out to be a raging tire fire that stranded its millionaire guest-list. With ticket prices ranging between $1,000 and $25,000, we knew better than to splurge on this festival.
The same can’t be said about those impromptu purchases we tend to make without first thinking them through. These small impulse purchases can add up and significantly impact your finances, just like the inconspicuous butterfly.
Swinging by Starbucks to pick up the new iced blonde coconut mocha every morning before work doesn’t seem like a terrible waste. It’s less than $5 and you get a caffeinated pick-me-up before you start your day. It’s a win-win scenario until you start looking at the large picture. Every day you go to work, $5 of your paycheque gets thrown away. That’s $25 a week. Considering most people only get 2 weeks of vacation each year, that’s $1,250 on coffee alone.
Think of all the other thoughtless purchases you make, including but not limited to frequent nights out with friends, takeout lunches, and constantly updating your wardrobe. Bad habits are just like compounding interest. When put all together, they can land you in the red before you realize you’ve overspent.
It’s a hard lesson to look at your chequing balance and realize you don’t have enough cash to cover a necessary household purchase or repair because you spent the last loonie on carryout. Luckily, there are some lenders that can help alleviate some of the stress you feel. Like the lenders at GoDay, these companies offer quick and convenient short term loans that can bridge the gap between your paycheques.
As a responsible way to get you back on track, these lenders come with several advantages over conventional lenders, including
- Quick response times, processing applications in as few as 5 minutes and sending cash in as little as 1 day
- Assistance that results in no impact on credit score
- Transparent practices (with no hidden fees) compliant with all provincial loan regulations
- Accessible online and at brick-and-mortar stores
To understand the full benefits of aligning yourself with such a lender, check out GoDay.ca. In addition to their rates, terms, and conditions, you’ll be able to find invaluable financial advice tailored for those in need of payday loans.
Small mistakes have the power to create huge problems in your future, but on the flip side, healthy habits have lasting impacts, too. Start creating your own spendthrift practices by eliminating impulse buying and searching out a lender of short term loans.
