Project Money Reserves: 3 Tips for Saving it and Spending it

Any project manager at home or at work knows that money is easy to spend and hard to manage. It is never fun asking for more from the client or your boss so you need to save wisely. This holiday season, it seems appropriate to talk about decision making for spending since giving gifts is fun and it is easy to overspend. Here are a few tips!

  1. Don’t double down
    • Have you ever bought a second gift because you aren’t sure if the first one was good enough? Don’t do it! You probably bought the first one with similar reasoning and whether it’s a backup or replacement, you will always end up with one you use and one you don’t. So put it back, and only keep one!
  2. Measuring big and small
    • Do you buy 5 small things so that it adds up to one big thing? Don’t! If it’s about how much money you spend and not the value it means to the person, you probably aren’t doing it right. Take a deep breath and just buy one thing no matter the cost. If you really feel the need to dress it up to be something fancier than add a big bow to it instead!
  3. Spend money on time
    • Remember that the best things in life are free? My favorite thing to ask for is more time together. A promise to hang out again, to visit, and have dinner together then is worth a lot more than some technological gadget. In business and at home, your time is worth more to me and makes me feel more special than any fancy book or software.

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