No-one is immune from the Sunday scaries. Sometimes though, the fear of the week ahead pales in comparison to the fear of checking your banking app after an expensive weekend.
By now, the abundance of memes and social media commentary about bank account-avoidance following a blow-out, have reassured most of us that this is a pretty normal reaction to over-spending.
Whilst it’s tempting to seek solidarity with the millions stuck in a weekly cycle of over-spending and regret, this is not a habit you want to lean into.
Today, I’m sharing top tips for re-balancing the books and reducing financial anxiety.
If you have spent on credit, make a payment
A cardinal rule of personal finance is to only spend as much on credit as you can afford to pay off.
So the first and smartest move if you have been a bit too tap-happy with your credit card over the weekend, is to make an out-of-cycle payment to your credit provider.
It doesn’t need to be a huge sum. Even 50 quid will make your end-of-month bill less daunting when it arrives.
Save on socialising
Next, evaluate how much your social diary over the coming seven days is going to set you back.
Thursday night dinner plans with a friend at that boujie new Thai restaurant? Invite her for homemade Pad Thai at yours instead, and ask her to bring the bottle of wine.
Cooking and a catch-up is one of the best forms of therapy after a rut - financial or otherwise.
And by wining and dining at home, you don’t need to worry about getting disapproving looks from fellow diners when the goss gets a little too risqué. Win-win.
Make a transfer to your investment account
It might seem counter-intuitive to transfer money out of your current account order to feel better about the measly sum it holds.
But the stress and guilt caused by overspending can be partly offset by an investment in future-you.
Making an investment, however small, can also help re-calibrate your mindset from scarcity to abundance, helping to quell negative feelings towards money.
Challenge yourself to a no-spend day
No (or low) spend days can be liberating.
My favourite no-spend schedule starts with a home Pilates workout followed by a walk to Pret to claim a free oat cappuccino on my subscription (slight cheat but whatever works). Later, I’ll stick on a film from my ‘to-watch’ list, followed by a FaceTime date with a long-distance friend and a glass of wine. A good-for-the soul kinda day.
Check in on your spending habits
Naturally, the best long-term step you can take following a spending binge is to consider how you might avoid the same situation in the future.
If the bulk of your weekend spending went on fancy cocktails, consider switching to a less expensive alternative next time. If the Uber home at the end of the night cost you more than the night itself, consider leaving in time to make the last tube in future.
Small spending resolutions can make a big difference to your money mindset.
Accept, don’t avoid
Above all, you need to accept, rather than avoid, your spending spree in order to implement the small but practical steps that will start to alleviate your financial anxiety.
Acceptance, and the development of healthier response mechanisms, will put you in the strongest position to bounce back from a financially frivolous weekend in the future.