The importance of 21st century financial management


Ah, the modern world. It’s exciting, frightening, hilarious and stressful all at the same time, with there never being quite as much going on at any other point in human history. We’re far from complaining here at Winzum however, if anything it has given us a crazy amount of food for thought when it comes to our very own Winzum blog.

As you can probably tell by now, we’re very passionate about helping you lovely lot out in various different ways, and one of the most important is with financial management. In the hullabaloo of modern life it has never been so vital to have a tight grip on your finances, so keep reading for an examination into the importance of 21st century financial management.

The 21st century: It’s never been easier to spend money…

One thing is certain about life in the 21st century, it has absolutely never been easier to spend money. Just think about it: there are countless things that you can spend money on these days, and you don’t even have to leave the house in order to do so!

Of course, nobody is complaining, because the abundance of technology, food and all the other stuff definitely makes life more exciting. On the other hand though, it’s really important that you don’t go overboard – life gets a lot less fun with no money.

… And there’s never been so much to save for

There has never been so many options for spending your money as there is in the 21st century, however at the same time you also have to remember that there has never been so much to save for either. Rent, mortgages, food, heating, basic essentials… The list can go on and on and on and on and (you get the picture).

Over at Winzum we know exactly what it’s like to have to save your precious coins, and we compiled a neat little guide to help you guys right here [a few of the best ways to save money]. Money saving doesn’t have to be a dirty word either, there are plenty of ways to do it and still have a lovely amount of fun!

A few reasons why financial management is more important than ever

We keep raving on about financial management here at Winzum, but we promise we’re not just being nags – far from it! There are plenty of reasons why financial management is more important than ever now, take a look at some of these:

  1. Financial stability: It’s a topsy-turvy world out there these days, especially when you factor in stuff like the dreaded Covid-19 pandemic. Without financial management you leave yourself open to be devastatingly effected by things out of your control.

  2. FOMO: There are so many exciting things to get up to these days; do you really want to be the only one who cannot indulge in them? Financial management is the perfect antidote against FOMO.

  3. Increase of living costs: Unfortunately it seems as though the price of things like rent and house buying are only going up (alongside the real fun stuff like pints). Yet another reason why financial management should be your top concern.

Winzum tips for financial management

We’re full of ways to help here at Winzum, and when it comes to financial management we sure do have some useful tips. A big one is simply making sure you aren’t going overboard on your weekly essentials, something we explored in more detail here [how to save money on your weekly essentials].

Additionally, have you ever considered using a budgeting app? We listed 4 of our favourites recently in our blog [4 of the best budgeting apps].

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