Lydia here from Financielle.
I recently went on holiday to Mallorca. On the way to the airport, I excitedly emptied my precious holiday sinking fund into my bank account, feeling very smug about how organised I was.
Here’s where I f**ked up.
No money minutes were taken
My fiancé and I spent like we had monopoly money. Ice creams at the beach? Sure. Another dinner out? Go on then. Horseriding adventure in the forest? Hell yes.
When I got home, I did the thing we tell you never to do – I avoided looking at my bank account.
Since then, my whole system has crashed, because I’ve not been using it. And messiness breeds messiness. Money seems to be missing, so I’ve only paid half of what I usually put into my pension this month. This is not good for my lovely net worth graph.
It’s time to get back on track and make that graph go up.
The system that usually works
Normally, I do my payday budget and move everything into my Monzo pots. I keep a £100 buffer in my main account, and whenever I spend, I reimburse myself from the right pot like I’m my own sugar daddy: “here you go baby, don’t worry about it.”
It works brilliantly. Until you stop doing it.
We’re saving for a wedding, so this is really not the time for me to forget all my Financielle training.
My plan: a money date night
I’ve been avoiding my money minutes for weeks now, so I’ve decided to seduce myself into one instead. I’m turning it into a money date night, and here’s the plan:
- Sit down at the table with my fiancé, some snacks and a nice drink.
- Open our bank statements on the laptop (I’m a millennial, big screen = serious job).
- Work out how much each of us actually spent on holiday. Deep breath.
- Go through every transaction since we got back and reimburse myself from my pots, one by one.
- Top my pension back up and give that net worth graph something to smile about.
By the end of the night, the system’s back up and running, and I can stop flinching every time I open my banking app.
Was the holiday worth it?
Absolutely. That’s what the sinking fund was for, and I’d empty it all over again. The holiday wasn’t my mistake, it was keeping my head in the sand and abandoning the system.
If you’ve got a money system that works for you, stick to it, especially when life gets fun. If your current system is winging it, trust me, the chaos isn’t worth it. I’m a free spirit and I like to go with the flow, but a bit of organisation means you’re more relaxed on the whole.
So tell me – when did your money system last crash, and what would your money date night look like?
This content is for general information only and does not constitute financial advice. If you need advice tailored to your personal circumstances, please speak to an authorised financial adviser.