Making good money choices is something that all people, young and old alike, can really benefit from. Whether you have always been good at saving and spending sensibly, or have gone most of your life struggling and now wish to change your ways, it is never too late to start practicing good financial habits. These habits can involve thinking about money in your present, as well as planning for your future, to give yourself a bit more security, as well as resilience to impulsive spending.


Some people start paying extra money into their pension as soon as they get into employment, while others might not wish to worry about their later years until that time draws nearer. Ideally, paying into a pension, such as those that Wealthify offers, sooner means that you can make smaller monthly payments, and have a greater chance of growth by the time you reach the age of retirement than might be available to someone who starts their pension fund later in life. In addition to this, the amount of growth you can get earlier on could be greater, simply due to the higher risk you can afford than someone who may very well need their pension within the next few years.

Avoiding Microtransactions

When playing games, either on a console or on your smartphone, many of these games offer additional purchases, sometimes only for a small amount of money, for you to receive perks, items, boosts, or even limited edition outfits to use. While these may not seem like they will have a drastic effect upon your finances, microtransactions can soon add up, particularly if you are making several of them each week or day. Some providers will allow you to not share card details, or block these transactions from being possible in the first place, which can help greatly. On top of this, you should always check what you are buying within your games. If it takes in-game gold, gems, or another virtual currency, then you can go ahead, but if it asks for real money, card details, or authorisation, you are better off steering clear.

Avoiding Debt

Getting yourself out of debt, and staying that way, can help you to learn to live within your means, as well as to avoid charges from your bank or credit provider. Ideally, it is better to pay for goods and services only with the money that is available to you, however there may come a time where this is not possible. Using a credit card should be a last resort, only in cases of emergency, and even then, it is a better idea to set up a rainy day fund, rather than borrow money that will cost you more in the long term to repay.

Learning how to make better money choices can help you to gain, and maintain, financial security, both in the present and the future. While there should be some allowance for pleasurable activities or purchases, it is important that you do not allow your wants or impulses to rule the way you manage your money. 

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