All about balance
I am too tired and bleary-eyed to write something clever here...
I went out last night. Like, out out. As in the party started at 11pm. I got to bed around 3.30am 😱
For someone who simply adores early nights and evenings spent doing nothing at home, making this £45 commitment a few weeks ago was bold.
This week I’ve been oscillating between excited and terrified. On the one hand, how fun it is to dance and feel free! On the other, what’s the optimal sleep/caffeine schedule to ensure I’d actually make it there? How badly will my productivity plummet? How long will it take me to get back to this level of balance that I’ve been prioritising for the last couple of years. And, most critically, will it be worth it?
I’ve been thinking a lot about productivity recently, in terms of neoliberalism1 and capitalism. How every unit of our lives is turned into a mode of production. And, how this system is removing the humanity from our human experiences.
By contrast, there’s a new book out by a writer about her year of doing nothing.
“I did nothing. I stopped replying to emails. I used my savings. I slept.”
She’s previously written about how we build multi-hyphenate careers, and the myth of ‘having it all’ so it’s very interesting that she then reached a point of ‘chronic exhaustion from occupational stress.’ This article’s author makes the case that while we may not be able to take a year off, even a day can make a difference.
So it seems shaking it up is a good thing. Either through rest or the exact opposite of that. There might be some trepidation about doing it, about losing control. But finding a way back to balance - or, better still, a new state - has to be a positive experience.
1. One in five 35-49-year-olds close to or in 'financial crisis'
Despite this age group having the highest average annual personal income, 20% are unable to pay major household bills. Since February last year, their average monthly outgoings have been rising by £588 per month.
PER MONTH.
It’s mainly coming from high mortgage rates and rents; housing accounts for the majority of people’s outgoings.
But the effects are on:
Borrowing: 34% are overdrawn or have to borrow money to cover monthly expenses
Savings: 23% have no savings at all
Mood: 31% are fearful about the future
And it’s affecting family planning; respondents said they would either delay having children, have fewer than they planned or even abandon their plans for children altogether.
This bit is the most interesting: “When prices for food and energy were increasing, we saw people cut back and make changes to their spending and shopping habits, but now we’re seeing that some major life decisions are being delayed as people are weighing up whether or not they can afford to act on the plans they've made.”
In other news, these increases are not going away, and what was previously viewed as a temporary situation has morphed into something larger and more permanent. This will undoubtedly have big societal effects for years to come.
Speaking of societal effects, UK readers: If you’re going to be away on Thursday 4 July, make sure you’re registered for a postal vote asap.
Reading this but not subscribed? Yet..?
2. How to invest £1,000: where the experts would put their money
The options they outline:
Invest in a stocks and shares ISA or a lifetime stocks and shares ISA2 - but only one or two funds, or get a fund manager to pick them for you
Invest in a market tracker fund (again this can be in an ISA wrapper, so your gains are tax-free)
Put the money in a pension
Save it in a cash ISA
As with everything, it depends on your personal circumstances and preferences. If you’re comfortable not touching (and potentially losing) the money, an investment makes sense. If you don’t have enough in emergency savings, a cash ISA makes sense.
3. Saving money through having ‘approved spending lists’
We know that companies spend so much money trying to get us to spend money. And that they’re pretty effective at doing this!
One way to shield yourself against their tactics is to create your own approved spending lists. This then blinkers your focus and means you have a set of rules in place which mean that you’re less likely to be swayed by any advertising, however insidious.
How to do this:
Take inventory of your current possessions - doing this will likely show you how much stuff you have, and how much of it you don’t even use
Then make three lists:
Essentials: Walk around your house and make a list of your essentials - these are things you can buy/replace if they run out
Non essentials: Stuff you’re just not allowed to buy. For me, it would be any homeware. I don’t have a need nor space!3
Approved: Things that will be coming up, that you’re expecting to buy - and are OK with doing so.
If this seems like a lot of work to do up front (it is), you can build these lists and habits up over time.
“No matter how much (or little) money you can spare, making personal rules about where you put it — even if you don’t have much of a choice — is a way to exert some control.”
Other things!
MONEY
High street bank Santander has been hacked by the same group that targeted Ticketmaster, but they say no banking information was compromised
Supermarkets have been gamifying spending by offering rewards when you spend over a certain amount - and a consumer group and debt charity have flagged that this could lead to overspending. Still, nothing is being done to curb this
What happens to your pension(s) when you die? They go to beneficiaries - make sure you have put these names on your pension! I just found that I hadn’t included anyone on one of mine. Has been swiftly rectified
The average UK home's gas and electricity bill will drop £122 a year (£10 a month) to £1,568 in July
OTHER
Why 30 isn’t too young to start thinking about – and preparing for – menopause
At the end of the work day, how do you transition back into being your non-work self?
Know someone who would enjoy this in their inbox on a Sunday morning? Sharing is caring :)
This term is confusing because it contains the word liberal, so it kinda sounds like a good thing? It means transferring everything to the private markets, assuming that market forces always lead to the best outcome. This is fundamentally not true, but it’s the approach on which much of our world is built.
If you’re under 40 and are OK with leaving it untouched until buying a first home or retirement.
This morning I clicked on an Instagram ad for a sofa 🫠