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Are You Spending or Investing Your Hard Earned Money?

Are You Spending or Investing Your Hard Earned Money?

According to Australian Millionaire, Tim Gurner, our inclination towards frivolous items such as Avocado Toast are the reason why millenials can’t afford to put a down payment on a home.

As outlandish as this observation may sound, there is some truth to it. I seriously doubt that your decision to eat avocados is going to deter you from ever buying a home. But the act of irresponsible spending certainly will. The future is some far-off, unknown entity, and those of us who like to live in the now tend to indulge instead of invest. And while that instant gratification feels oh so good, eventually it will catch up with us. We need to start planning ahead.

Don’t squander away your hard earned money

We’ve been hearing it over and over since we were children. Our parents would give us a small allowance and tell us, “don’t spend it all in one place.” We may have laughed it off, but they were trying to teach us a very valuable lesson: we need to spend our money wisely.

We have reached an era where adults between the age of 24-35, what used to be ample home-buying age, are not able to afford a home of their own. A number of factors contribute to this issue: Credit standards have become stricter, making it more difficult for people with faulty or no credit at all to get a loan. Student loans are on the rise, burying millenials in crippling debt. Lifestyle changes- people are delaying getting married and having children, no longer prioritizing this as their ultimate goal. Many millenials are not receiving salaries that make them able to afford a home; many of them are living hand to mouth. Individuals in this age group are inclined to move to inner cities, where the act of renting is more prevalent than buying.

Ultimately, you don’t have to save up your money in order to buy a flat or home. If that’s just not your style, then do what makes you happy. But still be aware of your spending habits. Like I said, you work hard for your money. By all means treat yourself, but also consider the time you’ve put into earning that cash. It won’t be instant, but investing in yourself now will pay off big time in the future.

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Avoid these money spending mistakes:

1. Don’t be a sucker for a seemingly “good deal.”

Imagine you’re in the market for a new television set, and you’ve narrowed it down to two choices. Both televisions are priced at $500, but one of them has been marked down from $800. Immediately you conclude that the one that has been marked down would be a better value. This thought process is known as Anchoring Bias. This means that we make decisions based on one piece of information (the anchor). In this case, the discount is the anchor. You don’t know why the store chose to discount this item, and what issues it may have.

I’m sure we’ve all been guilty of naming ourselves, “bargain shopper,” never being able to pass up a good deal or sale. Many of us fall victim to this marketing tactic during the holiday season. Everything is on sale! And since we can’t resist a good sale, we spend money we normally wouldn’t, on items we normally wouldn’t buy. The end result? We just end up with stuff. Stuff we don’t need, and doesn’t bring us any fulfillment. If anything it makes us feel empty, because everything new eventually loses it’s charm.

2. Buying the things we WANT, instead of what we NEED

Do you ever find yourself sifting through your bottomless closet, filled with nearly identical shirts and shoes, only to realize you have “nothing to wear? Shop Therapy make us feel good. But only momentarily. How good will you feel about those items when you realize you can’t pay your bills?

It is exciting to get something new, and in the moment, we believe that this new item will help to shape us into the person we want to be (this jacket makes me look professional, more people will take me seriously). But the truth is, these items won’t change us. And we’re likely to lose interest in them just after a few days.To avoid this dilemma, really consider how much you need an item before you buy it. Don’t buy it on impulse, wait until the next day and consider if you really need it. Chances are you’ll forget about the item.

3. Spending money we don’t have

You just got your first credit card, and your soaring high on the possibilities. You can just buy things without worrying about your account balance. So you buy. You buy until you max out your credit card. So what do you do? You apply for another credit card to support your spending habits. Next thing you know, you’ve racked up $20k in debt with no way to pay it off. Your credit score plummets and your phone is ringing off the hook with debt collectors.

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The money isn’t tangible, so you don’t feel any real loss as you’re spending. Credit cards make spending way too easy, and debt that much easier to fall into. You can easily miscalculate how much you can afford; or worse, go into denial about how much you’re spending.

This is why so many adults are buried in debt. Since they don’t physically see the money leaving their bank accounts, they’ve disassociated the loss that comes with spending.

4. Buying instead of investing

Say that you’re an Instagram star, promoting a vegan lifestyle and the benefits it provides. You could spend $1000 on a new hand bag, OR, you could spend that money on a Nutrition Certification Course. Consider which is more beneficial to you: buying an expensive handbag that you’ve had your eye on, or investing in something that could potentially further your progress in life?

Sure, you’ll get that temporary high from buying that handbag, flaunt it around and be the envy of the town. But as soon as you’ve felt that satisfaction, that handbag no longer benefits you. It’s old news. However, if you spend it on the Nutrition Course, you could be well on your way to expert status on a subject that truly interests you. That is a benefit that will pay off for years to come; well after that ragged old handbag fell apart and became useless.

Never let the instant gratification trump you from investing something more rewardable.

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5. Trying to “buy” a relationship.

Your relationship has been on the rocks for a while, and you’re not really sure how to show them that you care. So you buy them tokens of your affection, showering them with gifts. This may temporarily fix the tension in the relationship, but the core issue is still there.

If your partner is only with you because of what you can offer them materialistically, then you should know it isn’t real. You shouldn’t have to buy your friends or romantic partners with extravagant items. If your partners love for you is determined by how much you spend on them, then they don’t love you for you. They love your money and what it can get them.

You are buying the relationship; an investment that will ultimately end in loss.

6. Opting not to invest in Health Care.

You take great care of your body. You eat right, work out daily, and take all of your vitamins. You feel great! There’s no need for health insurance, your health is just fine. One day on one of your runs through the park, you slip on some mud, fall awkwardly, and fracture your neck. An ambulance picks you up and takes you to the hospital. They perform x-rays, cat-scans, keep you overnight for observation, and provide you with painkillers to alleviate your suffering. When all is said and done, you now owe the hospital just shy of $30k. Your health was in great shape, but you just can’t predict these things. If you had health insurance, you wouldn’t have to worry about these costs on top of your injury. But now you do.

Millenials may feel that they don’t need to waste their money on Health insurance, because they’re still young and still have plenty of energy to spare. Health isn’t the first priority, because time and age is still yet to take a toll on us. But before we know it, our bodies start to give out on us. We eventually will age, sending our energy levels and health on the decline.

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Now, health insurance or not, you need to seek medical attention. And without coverage, your payments will be astronomical. An issue you never would have dealt with if you just sucked it up and made the monthly payments. Maybe you don’t need it now. But someday you will.

Invest in yourself and the future, and the payout will be well worth the sacrifice

When you really break it down and consider what is important, you realize you don’t actually need very much. What do you actually need? Your health, food (if that includes avocado toast so be it), water and shelter (clothing optional, but for the purpose of social norms I suppose we’ll include that as well).

Featured photo credit: Mashable via google.com

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Brian Lee

Chief of Product Management at Lifehack

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Last Updated on October 5, 2020

10 Best Calendar Apps to Stay on Track in 2020

10 Best Calendar Apps to Stay on Track in 2020

The success of our day is largely dependent on the quality of our planning. Not to miss out anything in their to-dos, some people prefer to make a list of upcoming tasks in a notebook, while others have long started using digital technology solutions.

Calendar applications are some of the main tools that are worth using to organize our life and plan your time carefully.

Many people have switched to specific tools; however, there are still some who do not use calendars on a daily basis. They may find some applications uncomfortable to use, non-functional, or expensive.

In this article, we are going to check out the best calendars apps to help you stay organized.

Before You Download

As you are no doubt aware, there are all kinds of calendar apps available. Instead of you sifting through the hundreds of them, we’ve handpicked 10 of the best calendar apps you can get. On top of glowing reviews from each one, we’ve considered the following aspects when creating this list:

  • User Interface – How you navigate the app should be smooth and simple. The buttons on the app should be clear, obvious and easy to move through.
  • Synchronization – Whether it’s with other calendar apps or with other apps, syncing apps should be easy and enhance your overall experience with the app.
  • Additional features – Since there are so many options for calendars, many of these apps offer additional features. These features make the apps stand out from the other apps and provide unique experiences to you.

1. Any.do Calendar

    This calendar has direct integration with Any.Do To-Do List, which gives you a unique tandem of two applications.

    Apart from its extended functionality, Cal Calendar is easy to use. The creation of events is very simple and fast.

    What is more, depending on the name of the event, the application automatically adds contacts and geolocation data to the entry description. You can even import your lists and entries from Any.do.

    Any.do Calendar is a great option for any type of user. It is very convenient and doesn’t overcomplicate the mode of display.

    Another good thing is that this tool is available for free, so you can use it without spending a dime for the software.

    Download Any.do Calendar here!

    2. Google Calendar

      Google Calendar is the official calendar for Android devices that has been tested out by many users around the globe. If you are right now trying to get away from it, consider changing your mind.

      Since this application is installed on most Android devices by default, many users think that there is nothing special in this program. They are wrong.

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      Google has been updating its calendar for quite a few years, and now it comes in Material Design with advanced event features, direct integration into other Google services (for example, supports reminders and Google Now), and comes with Exchange support.

      The program is super easy and will not cost a dime for you. It is a good thing, right?

      Download Google Calendar here.

      3. IRL Event Social Network

         

        One of the most unique apps on this list is the IRL Event Social Network app. As you can guess from the name, the core focus of this app is social networking. Unlike other social media platforms, you can consider this platform to function similar to Meetup.com. It’s a site where you can connect with other people within your area that share a similar interest.

        IRL is that while also providing a convenient calendar for you to schedule events and plan out your day. Though due to it being a secondary focus, you’re lacking a lot of the syncing aspects that other apps have on this list. Regardless, because of this huge social feature, it’s worth considering for those who want to make more connections.

        Download IRL Event Social Network here.

        4. Business Calendar

          Business Calendar is geared towards people who use their calendar for work purposes and business task planning. It offers different modes with wide configuration capabilities.

          The application gives a default view mode by months, and events can be marked in different colors. Display modes/ sorting can be adjusted to your needs (by month, day, year, or events).

          You can also set a multi-day viewing mode to see how things look for the next few days. Scrolling up and down moves you by month, and if you check a few days, they will be shown in a more detailed form.

          The day display mode offers hourly scheduling, and the schedule mode provides a detailed schedule for a single event.

          Business Calendar is a great tool for planning/ scheduling cases, tasks, and events. There is a support for recurring events, which can be set up in just a few clicks.

          Having purchased software, you can use it to import and export other calendars, delete, copy, or move several events at the same time.

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          Android Business Calendar application may seem somewhat chaotic, but it works fine and is easy to work with if you play with it for a while.

          A full version of the application is available for $4.99, but you can also find a free version for the app test drive.

          Download Business Calendar here.

          5. Calendar

            Calendar is a relatively new app. It works as a web app and for both iOS and Android devices. It is an intelligent app that learns your contacts, schedule and tasks. It also helps you schedule and arrange meetings according to your available time slots.

            A good thing about Calendar is that it allows you to sync up with other calendars you use such as Apple Calendar and Google Calendar. And so you can manage all the calendars you have in one place.

            Calendar also gives you analytics of your meetings, giving you a clear picture on how you can improve your time management.

            Download Calendar: Meeting & Scheduling here.

            6. aCalendar

              aCalendar opens our collection of top 10 calendar applications available on the market today. With its appealing design, easy navigation, and great functionality, it is one of the most popular calendar apps in our list.

              Some of extra functions include color schemes for each case type (48 colors to choose from), different types of demonstrations, different widgets, moon phases, and much more.

              Taking into account it functionality, aCalendar is a reliable calendar application that has an easy-to-navigate interface with three display options. Scrolling from side to side allows you to switch between the display modes of the month, week and day.

              When scrolling down and up, you are moving through the calendar at intervals in accordance with the selected display mode.

              Apart from its time planning feature, aCalendar synchronizes photos from contact lists or social networks to remind you about birthdays, anniversaries, or any other special dates.

              The program also supports data transfer through NFC and full-screen widgets, which eases your work with any data.

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              The program is available for free, but you can also get even more features if you buy the extended version of software for $4.99.

              Download aCalendar here.

              7. DigiCal Calendar

                DigiCal Calendar is very similar to Cal Calendar in the fact that the application focuses on design more than on its functionality. However, this doesn’t mean that the application doesn’t serve the purpose.

                With this calendar application, you can synchronize all your calendars and view them in different ways.

                Along with the basic functions, this program comes with support for Google Calendar, Outlook, and includes some unique and interesting features. You can match keywords to the image or set up a dark theme.

                The app can even show you the weather forecast for three days. There are many other features that deserve the attention of people who really like to use calendar applications.

                Download DigiCal Calendar here.

                8. SolCalendar

                  SolCalendar can be called a universal application. It claims to be an all-in-one digital solution having a basic calendar functionality combined with some other advanced features, such as weather forecast for a specific day.

                  The application supports Google Calendar, as well as tasks, widgets, lunar calendar and even Foursquare.

                  Those searching for a calendar application to cover just everything in its functionality, SolCalendar is a program to consider. There are a lot of interesting things in this application; the program does an excellent job working in “all-in-one” mode.

                  Test SolCalendar – the application is available for free. You can test it out without purchasing the service.

                  Download SolCalendar here.

                  9. Today Calendar

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                    Today Calendar is one of the most hip and edgy calendars in our list. The solution was one of the first ones that really embraced Material Design and remains one of the few that adhere to the neat style.

                    The calendar application offers bold colors, simple controls, and great functionality. This is not as heavy an application as many others; it will not eat all the memory of your device.

                    If you are not searching for something complicated and over-functional, Today Calendar is what you need. You can always test the application before paying for it – the program is available for free.

                    Download Today Calendar here.

                    10. Timepage

                      Timepage is an intuitive calendar app that will manage your time in a way that other calendar apps can’t. It offers the same sort of functions that you’d expect from other calendar apps: opportunities to record events, notifications and reminders, weather, and driving duration to a particular event. However, the app goes beyond those functionalities in two ways.

                      The first way is that while the app sends you notifications, it also has reminders for you for what is coming up next. That bit of extra time can allow you to prepare and make adjustments to your day if need be.

                      The second function – which is more important – is the heat map when you go to see the full view of your calendar. This heat map indicates what days you are most busy and other days where you are freer. This heat map provides a quick glance to determine broadly what days are good to add more events and other tasks.

                      Download Timepage here.

                      Our Verdict

                      Searching for the right application to manage your various calendars and plan your busy day can sometimes turn into a streak of obstacles.

                      Most of us need flexible applications that can be easily used to manage our tough schedule. The application should have all necessary time planning functions and be intuitive.

                      Stylish design and limitless compatibility also matter. It is not always easy to find such a program.

                      The above digital calendar solutions fall under the category “worth” of being used. They are modern, multifunctional, easy, and easy. Pick the one you like!

                      More Productivity Apps for Better Time Management

                      Featured photo credit: Unsplash via unsplash.com

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