You\u2019ve heard of the saying, \u201cmoney can\u2019t buy happiness\u201d. But\ndo you believe it? We work all day to earn it and are constantly spending it,\nbut is there a certain amount that would make you happy? It\u2019s one of the most common issues couples\nfight about, and a reason why people switch jobs and a top consideration when they\nultimately accept. And besides, who doesn\u2019t want to win the lottery?<\/p>\n\n\n\n
But there are times where we feel like we are spending money\nfaster than we are making it. And not to mention there are many unexpected things in\nour lives<\/a> that come up and cost us. Whether you\u2019re looking to get yourself\nout of a financial bind or help keep you afloat until your next paycheck, get your pay day loan online<\/a>. Our payday loans<\/a> are not intended to\nprovide a long-term financial solution \u2013 they are intended to solve urgent but\ntemporary cash-flow needs, especially in those times where we can\u2019t keep up\nfinancially. That\u2019s why we like to let our customers know about borrowing money\nthe GoDay\nway<\/a> and have made it easy for you by giving you the reasons as\nto why you should be choosing GoDay<\/a> the\nnext time you\u2019re in a financial bind. Because your finances can be stressful\nand not make us feel good. <\/p>\n\n\n\n Fear of Missing Out\nor FOMO<\/strong><\/p>\n\n\n\n Do you suffer from \u201cFOMO\u201d or the \u201cFear of Missing\nOut\u201d<\/a>? Don\u2019t worry, it\u2019s not just you. This is something very common,\nbecause who wants to be the person missing out on something fun? What you don\u2019t\nrealize is that these events and decisions can often lead to or have financial\nimplications. Who doesn\u2019t want to be traveling the world or having the latest\nand great gadget? But is it financially feasible? Splurging here and there is\none thing, but constantly\nbeing off budget<\/a> and not worrying about your credit card\nstatement<\/a> because you\u2019re living in the moment is another thing.<\/p>\n\n\n\n According to Tangerine<\/a>,\ntwenty-six percent of Canadians admitted to suffering from \u201cFOMO\u201d. Of that demographic, forty-eight percent are\nmillennial consumers, while only nine percent are of the baby boomer\ngeneration. Surprised? This fear of missing out has been statistically proven\nto have purchase power as twenty-five percent of those surveyed saying that\n\u201cFOMO\u201d is their main motivation to shop. This is an alarming statistic because\nif this kind of spending goes unchecked, shopping habits and random purchases\ncan quickly get out of hand.<\/p>\n\n\n\n Eliminating Financial Stress<\/strong><\/p>\n\n\n\n Financial stress can often start off very small or\ninnocent. A single missed credit\ncard payment<\/a> or an irresponsible splurge on a purchase you can\u2019t afford.\nBut before you know it, financial stress starts to snowball into something\nbigger. At GoDay<\/a> one of our missions\nis to help relieve you of financial stress by getting you back on track\nfinancially, not further behind. So how do you get that dark cloud of financial\nworry to stop following you around? One of the main reasons that money has been\nknown to increase happiness is that it takes a certain amount of money to feel\nfinancially secure. Financial concerns have been proven to cause anxiety. Having\nenough money means no anxiety<\/a>\nwhen going grocery shopping, going out to eat or paying your bills. Remembering\nand being appreciative of the fact that you are free to purchase things,\nthough, will make you happier even after it has settled in as normal amount of\nyour finances. It is one thing to be a vigilant of your financial situation,\nbut it can be very difficult when you start to experience emotional,\npsychological, and physical symptoms of stress and anxiety because of your\nfinancial situation. If you\u2019re experiencing financial stress, you need to do\nsomething about it. Fundamentally, having enough money to buy these basic\nnecessities will no doubt increase your happiness levels. <\/p>\n\n\n\n Buy Experiences<\/strong><\/p>\n\n\n\n When it comes to spending your money and how it makes us\nfeel, it can give you many things, and not all of them have to be physical\nitems, but sometimes the ones that can make us the happiest are the dollars\nthat give us the opportunity to have memorable experiences. So rather than\nbuying the latest gadget, Fast\nCompany<\/a> has broken down the science on\nwhy you should spend your money on experiences, not things and suggests you\u2019ll\nget more happiness spending money on experiences like going to art exhibits,\ndoing outdoor activities, learning a new skill, or traveling. Although you do not need a lot of money to\nhave certain experiences, for certain things like to travel the\nworld<\/a>, the more money you have can make a difference. These experiences\nthat you pay for should be ones that you genuinely enjoy, not just things that\neveryone else is doing. Want to go see your favourite sports team play? See the\nlatest musical? Go for it! Those are the experiences you will truly enjoy\nspending your money on. Spending money can also lead you to learn new things.\nPicking up new skills and finding hobbies that you love doing will also make\nyou happier. <\/p>\n\n\n\n Social Media <\/strong><\/p>\n\n\n\n Social media has not helped us with the \u201cFOMO\u201d we\u2019ve\nmentioned above, especially when you see what everyone else is doing and\nposting about. But wanting to do something or eat somewhere because you saw it posted on social\nmedia<\/a>. And in the end \u2013 will spending money on those things just for the\nlikes on social media really make you happy? Something else that\u2019s very common\nis seeing social media business ads and brands active on some social media\nprofiles, but not others. <\/p>\n\n\n\n Social media and the web, in general, has become an endless\nresource for information and reviews. And people judge companies based on their\nsocial media presence, how active they are, how they\u2019re promoting, because\nbelieve it or not- social media can make you spend money and has become a new\nshopping tool for businesses. Have you purchased something because you\u2019ve seen\nit on social media? According to Inc<\/a>,\nnearly 40 percent of American adults with social media accounts say that seeing\nother people\u2019s purchases and vacations on social media have prompted them to\nlook into similar purchases or vacations, and more than 11 percent spent money\nafter seeing someone else\u2019s post, according to a new poll by the American\nInstitute of Certified Public Accountants. More than 20 percent of Americans\nadults with social media accounts say they have chosen activity or purchases\nbased on how friends and family will view their post about it. As predicted,\nyounger people are more likely to factor social media reactions into their purchasing\ndecisions, with millennials more than twice as likely to say that the reaction\nof friends and family on social media affected their buying habits. Social\nmedia is used for many great things, but it shouldn\u2019t be used to put yourself\nin debt just to fit in for the likes.<\/p>\n\n\n\n Wants vs. Needs<\/strong><\/p>\n\n\n\n Do you know the difference between a financial want and financial need? Financial wants are the items and things we desire, compared to our financial needs which our financial obligations such as bills, debts and everything else life throws at us that we need to pay for. Which is also usually the things that don\u2019t make us happy and would rather be putting our hard earned dollars isn\u2019t something else. And on top of that we need to be saving! So how do you not go over budget and still but also have enough fun without living paycheck to paycheck? It\u2019s a trick everyone is learning to master, and there are more and more resources out there no matter what your financial responsibilities are. Our favourite trick in the book though is to always keep track, it\u2019s the best way to stay on budget to make sure you\u2019re living within your means and having money for both those financial wants and needs. Do you know how to live within your means? It sounds easy, right? Well, you would be surprised as to how much people are constantly overspending and thinking that things are within their means when they surprisingly aren\u2019t. This is very common when it comes to materialistic goods, the ones we\u2019re buying because we think it will make us happy. Living in a society where the latest gadget is a \u201cmust have\u201d and brands have done a very good job at making us feel we \u201cneed\u201d these things is one of the ways people are constantly overspending and finding themselves in debt. We suggest you stop overspending and evaluate the things that are a want vs. need and create a budget so you still have fun.<\/p>\n\n\n\n Spend Intentionally<\/strong><\/p>\n\n\n\n One of the most effective ways to reduce financial stress and make your money more meaningful is to change the way you spend. Ask yourself \u201cwhy\u201d when you\u2019re spending. Are you purchasing items impulsively? Is this truly a need, or a want? How will this item add value to your life? Asking yourself these types of questions forces you to engage with \u201cthings\u201d in a much deeper, more meaningful way. And by being mindful about the items your purchasing will help create the long term happiness we discussed earlier. <\/p>\n\n\n\n Paying for Convenience\n<\/strong><\/p>\n\n\n\n There are times where we pay for something we know is a\npremium, because it will result in happiness. And that\u2019s okay, with the right\nbudget. Things like having someone come in and clean your house for you, taking\na cab instead of transit, etc. A lot of people may think that they don\u2019t have\nthe financial freedom to pay for these types of things or services.\nBut are you willing to pay for more time? These time-saving services may be\nseen as luxury items, but there are many ways to readjust your budget and in\nthe end could up saving you money (based on the service) and get back the time\nyou would normally put into these things. At the end of the day, it comes down\nto what are you willing to pay for more time?<\/p>\n\n\n\n Stop Living In The Moment<\/strong><\/p>\n\n\n\n A philosophy we all are guilty of, but it can lead to future financial problems. When you\u2019re swiping your credit card<\/a> and not planning that kind of spending is how we go over budget. It\u2019s one thing to grab a spontaneous coffee, it may make you happy at the time, but every day those little things add up and leave you paying for expenses at the end of the month when you look at your statement and forgot you even made those purchases. Instead, when going out, try and limit your budget and impromptu coffee trips. You\u2019ll thank yourself for not having to cover those expenses when your credit card bill arrives.<\/p>\n\n\n\n