How gamification can help you to build positive spending habits, with Clare Seal

For all its virtues (better peace of mind, more security, less anxiety) money management doesn’t have a reputation as the most exciting or engaging of activities.

Budgeting, saving and paying off debt are often seen as tedious chores, unappealing even compared to hoovering or cleaning out the freezer. But this could be changing thanks to emerging trends across money saving platforms and budgeting apps.

Who knew, finance can actually be fun! Join me Clare Seal (@myfrugalyear), as I show you just how easy budgeting can be.

The game of budgeting

Personal finances can feel scary and abstract. But gamification can make it easier to visualise your goals, helping you feel more connected to your cash.

So what exactly is gamification? Put simply, gamification is the act of turning something into a game. It’s a great way of transforming boring tasks into something you may actually want to do – even money management.

The gamification of personal finances usually starts with a goal or an objective, and uses small rewards to help you build positive money habits that will get you closer to that target – in the same way that video games often consist of smaller quests that get you one step further towards completing the game.

For example, saving apps might break your goal down and let you know when you’ve reached a certain percentage of your saving goal, or congratulate you when you save for an unbroken ‘streak’ of days.

Other budgeting apps might introduce a competitive element, such as comparing your spending to a national average, or even to your own spending from previous months. All of this works to keep you engaged with your finances in a way that doesn’t feel dull or tedious, but motivating instead.

On your marks, get set, save

If you’re looking to use gamification to reconnect with your money, make budgeting easier and create good financial habits, you might first like to think about your goals.

Do you want to spend less? Save more? Pay off that pesky credit card or overdraft?

Once you’ve got a goal in mind, it’s time to find the budgeting format that works for you. Here are a few of my favourite budgeting apps that use gamification to help you reach your goals:

Snoop

Snoop is a handy little app for helping you spot the places you could be saving. Keep track of your bills and shop for better prices on energy, insurance and broadband to tighten your budget and keep your goals on track.

Money Dashboard

This super simple personal finance app has pretty much everything you need to keep your money in check. Track all your payments in one place and set personalised budgets with notifications warning you when you’re close to the limit.

Plum

Build a complete picture of your finances and use Plum’s nifty gamification tools to help reach your goals faster. Plum will also send you reminders, motivational messages, and helpful little nudges along the way.

Budgeting, the old fashioned way

Gamification apps are a great way to keep you motivated on your saving journey. But if you prefer pen and paper, I have another fun way to help you meet your finance goals – using a ‘goal grid’ to gamify your progress.

What’s a goal grid, I hear you ask?

When I had a lot of debt to clear, I created a 10 x 10 grid, colouring in a square every time I paid off 1% of my total debt.

Watching the grid fill up with colour was super motivating, and the feeling when I coloured the last square was like scoring the winning goal in the world cup (or so I’d imagine).

Others use a similar method to track ‘no spend days’ throughout the month, motivating them to think about what they are spending and giving them a buzz when they forego instant gratification in favour of their bigger financial goals.

However you choose to gamify your money management, it’s definitely worth trying if you struggle to stay motivated with your budgeting. When we make money management fun and motivating, we make it more accessible, easier to understand and less embarrassing to talk about, all of which are key to a healthy relationship with your finances and progress towards those goals.

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Clare Seal is a Financial Coach, influencer and author. Keep up with her on Instagram for more money tips.

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