What do you normally spend money on?
I’m an avid reader and food lover, so I usually tend to buy lots of food (Uber Eats is one of my main weaknesses) and books.
I’m trying to be more financially independent and aware so I’m not caught off guard if emergencies come up.
What was your relationship with money like before Wildcard?
I follow The Barefoot Investor’s money plan with the three buckets: Daily Expenses, Splurge, Fire Extinguisher and Smile accounts. I get paid every fortnight and I put aside 10% of my pay check to my splurge account for spending during that time.
While I have had very little to no problem putting money aside for my bills (because adulting, yeah!), I’ve always had trouble with dipping into my savings, as I was spending all the money in my splurge account by the end of the first week. This meant living the cereal and noodles life for the remaining week… and not having fun. Even worse, I’d dip into my emergency funds (Fire Extinguisher) and short-term savings funds (Smile) to fund the rest of the second week. And so my savings could never grow.
Wildcard has changed all of this.
Have you actively tried to budget in the past? Did you use tools to help?
For as long as I can remember, I’ve actively tried to budget. I’ve tried budgeting apps, my banking apps' savings breakdown and the good ol’ Excel spreadsheet.
Apps like Money Envelope and Daily Budget helped in some ways; both showed me how much money I could spend in a day and over a duration of time, but they didn’t stop me from overspending or dipping into my other accounts.
With Wildcard, there’s no way to get around the system. The money slowly drips into my account and I get what I get. I can’t do anything to make the money drip faster into my account or have the instant gratification if I decide to transfer a bulk of money into the account. I’ve found that having the app has given me the self-control I needed to get my spending on track.
How did you hear about us, and what convinced you to give Wildcard a try?
I found out about Wildcard through an Instagram ad. What caught my attention was their message of getting paid, living like royalty and getting broke by the end of the week. As someone who had constantly struggled with this, I was intrigued by what the app had to offer. I kept reading through the ads and people’s reviews and thought I had to give it a go.
I haven’t regretted it.
What’s your Wildcard set up like?
My Wildcard set up is pretty simple. Since I have no problems organizing my bills and I keep my savings in a high interest savings account, I use Wildcard for my spending money for the fortnight.
I’m hoping to use it more in the future to organize things like short term savings goals, and saving for trips to go home.
Now that you've been using Wildcard for a while, how do you feel it's helped?
Wildcard has made me feel more focused, self-controlled and self-aware when it comes to my spending. I know that every day I’ll get a certain amount of money slowly dripped into my card.
So if I feel like splurging on something I don’t need, I can’t do it since I don’t have the money. And if I make plans with my mates for let’s say the weekend, I make sure not to spend money for a couple of days beforehand so it builds up. When I then finally go out, I keep an eye out on the amount in my account so I don’t run out of money.
That's how Wildcard has given me the confidence to become more financially balanced and aware. I’ve stopped dipping into my savings and I’ve realized that it’s not about how much money I have, but how I spend it.