What’s your financial superpower?
Here’s to celebrating our financial superpowers, rather than beating ourselves up about money mistakes.
Have you ever thought about what you are doing right, when it comes to your finances, rather than what you are doing wrong?
Have you ever resolved to ignore critical thoughts about the way you manage your money and instead focus on what you do really well?
Maybe you should. After all, many of us grow up with hang ups, seeing money as a source of stress, tension or tedium.
Yet adopting a positive money mindset can help us face up to money matters, making plans and setting goals, rather than sticking our heads in the sand to avoid potential issues.
Identifying my own financial super power
Personally, I reckon I’m a Super Saver, keen to stretch my cash as far as possible. My superpower is laser-focused on freebies, whether earning extra rewards or saving money on things I’d do anyway.
So for example I’m a big fan of cashback. I’ll check where I can earn the highest cashback before shopping online, then check whether I’d be better off using voucher codes for money off or free delivery. I use a debit card that pays cashback on my spending and a current account that pays cashback on my bills.
Super Saving and cutting costs
Super saving can be fun. Show me a loyalty scheme, and I’ll sign on the dotted line. I definitely get extra enjoyment drinking the Prosecco bought with supermarket loyalty points, visiting a Sea Life centre with tickets swapped for loyalty card vouchers, or tucking into a free bakery item from a supermarket app.
Come my birthday, and I’ll swoop on the free muffin from a bakery app or the voucher from a hobby shop.
I get a buzz out of borrowing books for free from my local library or library app, rather than forking out for paperbacks and ebooks. I’m first in the queue for free festivals in the local park, free exhibitions at the gallery nearby or an open day at the local marina.
I’ve joined seat-filling services to get cheap seats for films, comedy shows and musicals, worked as a mystery shopper to get paid to take my kids trampolining and cut up a cereal packet to nab two-for-one tickets to a theme park.
I’ve got discounted trial subscriptions off to a fine art, with diary reminders to cancel before full price kicks in.
Think: cut-price flowers, gin, cheese, beer, magazines, meal boxes and more. I’m the mate who always has a referral code for money off, or can tell you about apps that offer a discount on your first purchase, or pay you to walk your dog. I’m the kind of
person who actually enters competitions, and I’m very grateful for all the prizes I’ve won, from a cafetiere and cinema tickets to a weekend away in Venice and flights to New York
Super Saving and earning extra
I’m also a Super Saver when it comes to making the most of the money I have.
For example, I scour best-buy tables so I can move my savings to accounts that pay higher interest and snap up switching current accounts with switching incentives. I use comparison sites to cut the cost of my car insurance, broadband and mobile phone.
I love the 'free money' paid on pensions, where every £1 is topped up by 25p in basic-rate tax relief, and higher rate taxpayers can claim another 25p on their tax return. If you pay into a workplace pension, your boss will add extra money too.
Better believe if I was young enough, I’d be stashing cash in a Lifetime Individual Savings Account (LISA), to grab the government 25p top up on every £1 saved towards buying my first home.
Super Saving and the environment
I’m also glad that some of my Super Saver powers can help save the planet. Shopping in charity shops means I can buy longer-lasting brands for less, and also means fewer clothes go into landfill. Carting around a refillable water bottle, packed lunch and cloth bag doesn’t just save money on snacks and plastic bags, but also avoids single use plastic.
What’s your financial superpower?
I may be out and proud as a Super Saver, but what’s your financial superpower?
Maybe you are a brilliant bargain hunter, snapping up the best sale buys. Perhaps you are the queen of side hustles, cashing in on clutter and selling anything that isn’t nailed down.
The boss of budgeting, making sure all bills are paid while still saving up for your next holiday. The investment guru who stashes cash in the stock market, then rides out peaks and troughs to emerge with a profit.
Sure, nobody’s perfect. I have a financial admin list as long as my arm, and I’m trying to ignore the dusty box of belongings earmarked for eBay. But focusing on my superpowers, rather than my financial weaknesses, can inspire me to tackle the next task on that to-do list.
Benefits of a focusing on your financial superpower
Identifying your financial superpower can help build confidence. You can acknowledge your own achievements, rather than comparing yourself to other people. Recognising what you do well can make you willing to tackle new challenges.
By adopting a positive money mindset, you are more able set achievable goals, tackle issues and improve your financial future.
Rather than focusing on past mistakes like overspending or debt, let go of the negative thoughts. Let’s all build on our financial superpowers and celebrate our successes.