This One Practice Revolutionised How I Manage My Money👀

Money, personal finance, assets, wealth, moolah - whatever you want to call it -apparently makes the world go round, right? What has become verrrrry apparent to me in writing about it is that it’s quite obviously something everyone is thinking about, but perhaps not enough people are talking about. And when I say not enough people, what I probably mean is not enough ‘normal’, working-class people are talking about it. At least that’s my experience - and all I can really do is speak to my own experience, which most definitely of the working-class nature.

One thing I have learned is that money will come and go throughout your life. If you are lucky enough to be fit, able, and employed in some capacity, you’ll have times when there is more of it and times when there is less. Sometimes it’s in your control, sometimes it’s not. For example, I’ve watched firsthand plenty of couples with very good, stable incomes struggle in those first few years of starting a family, when they’re hit with nursery fees (which are astronomical in the UK - like, full-other-mortgage kind of astronomical). That’s kind of controllable; most of the time you can plan for it and know it’s coming. Then there may be times when you are made redundant, need to take time away from work for other reasons, or have to cover a huge cost like a house repair - or a landlord might increase your rent to cover rising interest rates on their mortgage. These things are much less controllable. But then on the other hand, there will be times when you get an unexpected bonus or tax rebate and feel a bit more on top of things.

I know it’s easier said than done, but it’s really important to remember money comes and goes. In investing, it’s kind of rule 101 not to get too excited when things are going well and throw all your capital into something (i.e. buying high), and likewise, not to get too discouraged or panic when things go badly and withdraw your funds (sell low). What you want to try to do is actually the opposite: buy low, sell high - you get me? I think this kind of mentality can be applied here too. Managing money is a highly psychological activity, and we all have a lot of emotions wrapped up in it. So, my best advice is to just know this and work with it. Essentially, know how to keep your emotions in check - you want to be like the rock in the river of all the ups and downs of life. Trust me to turn managing money into a spiritual practice, right?

Now, I would definitely say I’ve always known the value of money. I remember my Gran taking me food shopping in the ‘90s and paying for her weekly groceries in cash. If she didn’t have enough cash, we couldn’t have it - simple as. She’d count in her head everything that went into the shopping trolley and ask me to help her keep track. And as I mentioned last week - one thing about me is I will always understand the assignment. So I took that job seriously. I can still remember the prices of items like a loaf of bread or a pint of milk; I can even see the labels on the shelves at Savacentre, Washington (the UK one). I remember being absolutely gagging to get into the real world and make my own money, and once I did, anyone who knows me knows there was really no stopping me. In my first job as a waitress, the manager called me ‘The Shift Machine’ - and I really was. My little working-class brain had recognised the pattern: more shifts = more money = life being a bit easier. You could afford lunch, the bus fare, and not have to rely on anyone.

I tell this story for a reason. The reason is, I realised a while ago that yes, I am - and always have been - quite good at making money (and praise be, I do think I’m lucky in that way), but when I look back over my life, I wasn’t always great at being smart with money. They are very different things. I fully hold my hands up and say that there was a long period during my uni days and early twenties when I would avoid looking at my bank balance and kind of just guesstimate my way through life. I’d check in every now and then to make sure nothing had gone seriously wrong, but I mostly just had my fingers in my ears like, ‘lalalalalala’.

I truly believe in the words of the great Robbie Williams: “No regrets, they don’t work” - and generally, I don’t have any. However, if there’s one thing I kind of kick young Grace for, it’s not being a bit smarter back then. I had money coming in, I just had no idea how to make it work for me. But then at the same time - and I guess this is why I’m writing about this topic now - I have to give myself Grace (pardon the pun), because quite frankly, I barely stood a chance. As a working-class person from the North East of England, it just wasn’t on the agenda. And especially not back then - the internet was a very different place.

This next part is what changed my financial story - and I truly believe it can change yours too.
Let me teach you everything I know.