Ollie explains why a new President is time to start managing personal money more closely

Ollie Banks wonders if there’s a money management app on Donald Trump’s phone, and decides there probably isn’t – but thinks the election of the new President is a reason for everyone else to become a better expense manager by starting to use an expense manager app…

“I wonder if Donald Trump uses a money management app?,” pondered Ollie as the new US President’s tally of electoral college votes ticked beyond the magic 270.

“Only you could think of a tiny detail like that when America’s political establishment has been turned on its head,” replied his wife Lizzie. “This election result has wider-reaching implications than we’ve probably ever seen.”

It was breakfast time on the morning of November 8th, and whilst children Alice and Jack were still sleeping, Ollie reflectively stirred milk into his tea, (taken in his favourite Aston Villa mug).  Nodding slowly, he said: “It does – but I see a parallel with Donald Trump being elected to the White House and the UK saying it wanted to leave the EU. You could argue that they’re both the same thing; people voting in a way that reflects dissatisfaction with a political elite.

“And just like the Brexit vote, Donald Trump becoming President Trump is going to cause a lot of uncertainty for a lot of people,” he went on. “That’s why I thought about Mr Trump using a money management app. He’s certainly got a lot of money to manage…”

Better expense managers build financial security
“I still don’t see what Donald Trump winning the Presidential election has to do with us, or why you’d wonder if he used a money management app,” said Lizzie.

Ollie beat out a small drum roll with his teaspoon and his fingers, before saying triumphantly: “What it has to do with us is that we don’t know what the result means in real terms, and what it might mean for the world – and therefore all of us –financially. When the world throws uncertainties at you, then you need to create some certainties to balance them out. And that means a lot of other people should start to manage their money more carefully, in the way we do; with Solo Expenses. Having tighter control over the things you CAN control means there is more of a cushion against the things that you can’t – and heaven knows there are going to be a lot of them in the months ahead.” To underline his point, he threw his teaspoon into the kitchen sink with a theatrical flourish.

Controlled expenses equal peace of mind
Lizzie nodded. “Sometimes you talk a lot of sense, Banks. I suppose it’s like the children being better people because they know what the limits are; everyone feels more reassured when things are in harmony. Knowing how much money there is available gives us limits to work within every week, and we all feel better because of it. In its way, it puts us more in control of our own destiny.”

Feeling the steam rising from his mug, Ollie agreed with her. “Exactly. And that’s what Solo Expenses has given us in terms of online expense management. We’ve been able to see where we were wasting money, and that’s helped us to save. That’ll come in handy, with Christmas just around the corner.

“I wonder how much money Donald Trump spends of Christmas presents, and what sort of things he buys?”

Slippers for the President’s wife?
Lizzie smiled. “I can’t see him giving Melania a pair of fluffy slippers,” she said. “He probably has a staff of people to do all that kind of thing for him. He won’t be the one rushing around the shops on Christmas Eve!”

“You never know,” ventured Ollie. “Perhaps he has a lot of money because he doesn’t spend much. But I doubt it. I doubt it as much as I doubt that he uses a money management app like Solo Expenses. He probably has a skyscraper full of accountants and lawyers doing the work for him. That’s what you call money management, though it’s hardly an app…”

Picture: James Pintar | Dreamstime