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Susanna KuangJuly 27, 20222 min read

Financial Do's and Don'ts: Daniel

avatar Susanna Kuang

Susanna is the Senior Customer Marketing Coordinator at ZayZoon, where she leads customer communications. Her dedication for helping others on their financial journey has helped her move from the Customer Care team to the ZayZoon Marketing team. Outside the office, she’s an avid outdoor enthusiast—hiking in the summer and snowboarding in the winter.

One of the core values at ZayZoon is Mastery - this means constantly striving to learn and grow while sharing what we know along the way. Whether it be big or small, we believe sharing information is very important. In this series, we'll be sharing real financial tips from real ZayZooners.

Daniel, one of our Team Lead's of Development, recently shared 4 of his favorite, quick, money-saving tricks.

Here are Daniel's 4 Key Takeaways:

1. Want Versus Need

“Don't buy too many things you don't actually need. Do you need an air fryer, or would it just take up space? Buying less ‘things’ will make it so you spend less money, and have less clutter.”

Knowing the difference between wants and needs will help you stay focused on your financial goals, like paying off debt or saving for a home. Mistaking a want for a need can be costly and push back your financial goals. Being mindful of your wants will help keep your home clutter-free - which would in turn reduce your stress levels.

2. Know Your Numbers

“Look at the price per weight when grocery shopping and use that to make more informed decisions.”

We may make hasty decisions because of sales and discounts. So checking the price per weight can help you determine the most cost-effective option for your budget. Don't just buy the discounted item, always remember to check your numbers first.

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3. Put Money Away For a Rainy Day

“Just because you can afford something, doesn't mean you should. Living with some buffer room makes life less stressful.”

Even though you prepare, unexpected expenses occur.  Your car might suddenly break down, or you need to replace your fridge or even a medical emergency. Holding off on that new purchase to build buffer room for these types of situations will give you peace of mind.

4. Invest in Your Health

Invest in things that separate you from the ground: a good mattress, shoes, tires, and an office chair.

Daniel firmly believes in investing in things that protect your health. “Gravity works against your body 24/7; this means that a good mattress, chair, shoes, etc. can lessen body aches and prevent additional health problems."

Managing your finances can obviously be an extremely complex and complicated task and although we know that there aren't many "quick fixes" to help you automatically get back on track. However, we hope these quick and easy tips can help you stay mindful of the process and ensure you that you're not alone on your financial journey.