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Springfords LLP blog

Some news, views and comments about everything and anything, relevant and irreverent.

Show Me The Money

30 August 2017

Living in an age of instant consumerism and instant gratification, when all you want is on the display of a mobile phone, is there a danger in having all your worldly wealth just as easily available. The answer is a disturbing yes.

When Cuba Gooding utters the words “show me the money” that define the movie Jerry Maguire, it took a suitcase full of cash to do just that. 1996 was a long time ago and things are a lot less dramatic now. In this century, a few taps on a phone, and the figures would be there, scrolling across the screen in front of the sceptical eyes of any egotistic American footballer. Tom Cruise would have sorted out his sports agency problems before the opening titles had rolled.

Cash strapped sports agents in the nineties might have to check their pockets for change before buying a VHS to watch the latest movie release. Crucially, that’s time enough to think twice about spending money that isn’t really there. 

Fast forward to the fast moving second decade of the twenty-first century. If a nostalgic couple of hours watching a nineties movie is what you really want, there’s nothing stopping you. Swipe the screen to pay and the streaming service will play instantly. Now, that time for a second thought, for a moment of discipline, is gone. You don’t even have to rewind before watching.

Impulse buying has always been with us, but not the ability to impulsively spend an individual’s entire wealth. That though is the possibility of online banking and mobile technology. Online banking and online shopping sound rather more exciting than online spending discipline.

If the debit card and the contactless consumerism revolution means that people are, by and large, carrying around their life savings in their pocket, there is a real danger of developing a spending pattern way beyond  their means. So budget control and education are even more important now.   Which is where we can help. Springfords see beyond the numbers and we can spot spending trends and impending cashflow issues for all clients. We offer real, impartial advice to help you stay in the black.

Some commentators say there’s a real danger of unplanned debt rising and getting out of hand. The willingness of the consumer economy to fuel instant gratification, coupled with on-demand services and 24/7 retailing, means we all have the daily pressure of being presented with what we want, when we want it, and having the ability to pay for it right there and then.

Living life large may seem like great fun. Being able to fund that party from funds that should be reserved for more long term goals is something of which we all have to be aware. Maybe if Jerry Maguire were being made today, the buzz words would be a little less catchy. Show me the unbudgeted expenditure indeed.


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