Love Island is over for another year and whether it had you glued to your screen or muting the words “love” and “island” on social media, this year’s series certainly delivered some important life lessons. No, we’re not talking about love (if you can even call it that). We’re talking about finances.
It might have been the contestants’ on-screen antics that had you cringing behind your hands this year (*cough* Andrew *cough*) but behind the non-stop drama and questionable decision-making, the popular reality show helped us avoid making similar mistakes when it comes to saving, spending, and splurging.
In this article, we’ll let you know what financial lessons we learned from Love Island 2022 because whilst it might not have taught us much about our love lives, it taught us a thing or two about our finances.
Don’t be dishonest
If you’re a fan of the show, you’ll know how common it is for contestants to enter the show with the sole aim of achieving overnight fame and fortune.
But it can be exhausting to hide who you really are (especially with a camera crew tracking your every move) and their true colours usually come to light quicker than you can say “I’ve got a text!”
Well, the same can be said for your finances and it can be just as exhausting trying to convince people that you’re living it large when you are, in fact, drowning in debt.
Whether your social media grid is jam-packed with photos of you in rented designer gear or you’ve lost track of how many monthly repayments you’ve missed, being honest can hep you take the first step towards a healthier financial future.
Don’t play it safe
It happens every year. Someone enters the villa in the hopes of finding love and ends up playing it safe for a fast-track ticket to the final (and a free holiday). But whilst this might be a smart game plan to adopt on the show, it can have a disastrous impact when applied to your finances.
It is often said that, in order to be successful, you must step out of your comfort zone and the same can be said when it comes to your finances.
Whether you have gotten too comfortable in a minimum wage job that just about pays the bills or are too scared to start a side-hustle, putting yourself (and your finances) first can help you break bad habits and inspire financial confidence in yourself when you need it the most.
Similarly, this season also proved that commitment isn’t everything and whilst you might have been with the same energy provider or bank for years, it is never too late to shop around and switch to a better deal – especially with further price rises set to be announced before the end of the year.
Don’t overthink things
Whilst most of us can only imagine how it feels to be in the spotlight 24/7 with no contact from the outside world, it can be easy to understand why some contestants might overthink every little thing they say and do when the cameras are turned on.
It is an unnatural environment to be in and whilst some of this year’s contestants got caught up in believing the whole world hated them for a silly little mistake they made, they were usually proved wrong when the next big storyline came along.
The moral of the story here is that overthinking only makes things worse and leads to further problems.
If you have made a risky borrowing decision that backfired or accidentally missed a monthly repayment, for example, don’t worry because mistakes can, and do, happen to the best of us.
The next time you catch yourself overthinking your financial situation, just remember how quickly storylines change on the show and remind yourself that no matter how bad things might seem, this too shall pass.
Don’t suffer in silence
Love Island’s emotional outbursts might make for great television but as entertaining as they are to watch, they usually stem from negative feelings or worries bubbling under the surface.
Similarly, if you act confident on the outside but are struggling with money worries deep down, suffering in silence will only make things worse and can lead to further problems down the line.
It is, understandably, easier said than done but by opening up to someone you trust or reaching out for expert help, it will feel like a weight has been lifted and, more importantly, remind you that there is a light at the end of the tunnel.
