Overspending? The Problem might be your Bank Balance

Bank balances can be misleading. They don’t show you the whole picture — like the fact your rent is due on Thursday or the monthly internet bill is around the corner. They don’t warn you that the pay cheque you just earned has to stretch until the next one, in 2 weeks’ time.

This means that every Pay Day, you see a big number in your bank account and it feels like you’re rich. You immediately splurge on UberEats and ASOS orders and finish your pay cycle eating cereal for dinner. Wash, rinse, repeat.

The problem with this scenario is not so much your level of income nor the high cost of living. It’s the fact that managing your money can be really freaking hard. Contrary to traditional economics, you don’t go through an extensive and rational decision-making process every time you reach for your debit card. Things like cognitive biases, Afterpay or an empty stomach can often tempt you to buy stuff now and worry about the consequences later.

Sure, money management tools (like Pocketbook, Excel spreadsheets or your bank’s crappy expense tracker) can help — if you have the time and motivation to use them. But fancy charts and categorised expenses take a reactive approach to the problem, saying “you spent too much on coffee this month”, rather than helping you to make the right decision in the first place.

We’ve come up with an easier way to make your pay cheque stretch, without all the budgeting bullshit.

See that account balance ticking up? That’s you, getting a little bit of spending money every second.

That’s because whenever you get paid onto your Wildcard, it’s set aside first. You choose how much you’d like to spend (e.g. $25 per day), and the money gradually moves into your account for Spending. As long as you stick to that balance, you can order UberEats tonight and know that you’ll still get ‘paid’ tomorrow.

If we’ve tickled your fancy, you can get your Wildcard here

BTW: The article you just read is general info (with a dash of shameless marketing) and not personal advice in any shape or form. If you’ve come here looking for actual financial advice, talk to a professional.