After the tumultuous events of 2020, many of which left a notable mark on Australia’s businesses and jobs, many young Aussies aren’t sure now what their financial future holds.
While over three quarters (77%) of Aussies have set themselves clear financial goals, 76% are concerned about what their financial future will look like throughout 2021, according to research conducted by Afterpay.
The research finds 36% of people are worried that by attempting to save, they won’t have enough money for the things they love; such as dining out, dressing up and socialising with friends. While 22% are worried about spending too much money on those things.
The question remains: should you buy the afternoon spritz because life is short, or should you invest your coins for a rainy day… or year?
These questions, like many, may come down to how your planet, moon and stars are aligned. Yes, Astrology may hold the key to your financial habits, according to Byron Bay astrologer Patsy Bennett.
As released to media earlier this week, here are Bennett’s hacks for taking control of your financial future based on your star sign:
Capricorn
Budgeting and financial planning are your BFF’s, but you don’t mind a spending spree every now and then. Try not to take on more financial obligations than necessary and use your ability to reason and strategise to create a solid financial platform in 2021.
“You like to display your wealth and so you’ll save on small things so you can spend big on cars, status symbols such as watches and an impressive house. It’s the big buys in life that could catch you out and whittle away at your careful saving plans,” says Bennett.
Aquarius
While Aquarians prefer tried and tested financial practices, they are also drawn to digital currencies and new and innovative investments.
“The world is changing rapidly, and this year you’ll do well to change your savings and
financial investments in line with changing times.”
Pisces
Grounded and practical, Pisces believe all things will sort themselves out in their own way, but be careful if this leads to avoiding a healthy financial plan. In 2021, you may be drawn to learn new skill sets, and this will certainly increase your earning power.
“Financially, you can tend to take risks because of your view that ‘all will be well’. This can lead to increasing avoidance of the necessity for a healthy financial plan.”
Aries
You are often impulsive which can lead to you spending money on a whim or rushing into an important life-changing decision without doing your research.
“Consider monitoring a budget that shows you clearly if you’ve overspent in a month. This will slow down your impulses and eventually overwrite your tendency to make rash decisions; changing your behavioural pattern.”
Taurus
All that glitters isn’t gold, but this doesn’t stop Taureans from enjoying a little luxury (sometimes leading to poor spending habits). In the year ahead, consider spending more time and less money on the important areas of your life – like peace of mind and people you love.
“Build a kitty that acts as a buffer so that you can always find the funds to treat yourself when you like – and in moderation,” says Bennett.
Gemini
Natural risk-takers, it’s important for Gemini’s to put in place safe spending habits and a budget. “Your tendency to be indecisive can work in your favour with big financial investments as it can save you from making rash decisions.”
If you struggle committing to a budget, consider asking a friend or accountant to help.
Cancer
You are an emotional spender, especially when it comes to larger investments like a car or big-ticket items.
“You love a little daily retail therapy too, especially if you believe that what you buy will make you feel happier or more stable and secure. As a result, you must be careful to separate emotions from your purchases.”
Ultimately, Cancers will find security and happiness from objects you really need and will find benefits from having.
Leo
The sign most likely to over-indulge or splurge, you will learn over time to tone down your tendency to overspend. To establish a happy medium, remember moderation in all things will help you stay on a steady financial course.
“To establish a happy medium and a healthy relationship with money, you must avoid going from one extreme to another – from super-generous on the one hand to penny-pinching on the other.”
Virgo
Those born under the sign of Virgo are meticulous with money, great planners and are excellent at organising a workable budget. Remember to leave a little wiggle room to enjoy life – within the budget of course!
“You know you are the person who has full responsibility for your own actions. And, while this is what will keep you in a strong position financially, if you do overspend, you can be hard on yourself. The good news is, you will carefully find a way out of any difficult financial situations and stay afloat.”
Libra
“You are always looking for ways to create more balance, harmony and peace in life and you like to balance the books financially too. That is, unless your predilection for luxury, luxury goods, good food and drink get the better of you,” says Bennett.
Controlling your appetite for things you don’t need will help keep your finances healthy.
Scorpio
Passionate and motivated, you tend to let your impulses do the talking and can be easily influenced.
“This means you can spend money like water. The good news is, if spending sprees do get you into trouble, you are able to climb your way out through sheer determination!”
Try a ‘one step at a time’ approach to a healthy budget and savings plan, and look for more fulfilling behaviours that don’t involve money.
Sagittarius
You love to live large! Being spontaneous, you live life in the present and worry about money later.
“Holidays can be your biggest expense because of your love of adventure. Like Leos, you are also generous and at the least, like to spend money on fun trips and favourite activities.”
Consider how to put a solid budget in place for 2021 and consider expert advice for larger investments.