Tuesday 26th January, 2021 GIBRALTAR CHRONICLE 11 12 GIBRALTAR CHRONICLE Tuesday 26th January, 2021 How to stop impulse spending draining your bank balance by Vicky Shaw craving the endorphins that more likely to bring shopping can bring. happiness when the he temptation to turn to purchase is intrinsically impulse spending for a 4. Ditch the ‘all or nothing’ rewarding, such as Tquick pick-me-up may be attitude on life experiences, particularly strong right now, personal development with little else going on to lift When you’re trying to limit your or on gifts that nurture the spirits. Plus, with everyone spending, you can feel like going meaningful relationships, Johnny Bugeja stuck at home, it’s easier to hide cold-turkey is the only answer, “rather than those Pics: those splurges. particularly after spending at driven by superficial Most of us have used shopping Christmas. However, an ‘all or motives”. as a way to cheer ourselves up nothing’ attitude may actually be Take this time to work out or reward ourselves at some harder to maintain than a split- what you want to gain from point or other, according to budget approach. your purchases. Make sure In troubled times, Port of Gibraltar a survey of more than 2,000 Pic: iStock/PA Weick suggests that striking a you’re not only shopping people from app-based bank, one’s exposure and avoid the shoppers got the same physical “healthy balance” between saving for the sake of it, or to Atom. situation, if possible,” says ‘high’ from taking a brisk walk, some income and also allowing experience the excitement But the emotional lift we’re Weick. as they did from hitting the some spontaneity may help. of grabbing a ‘bargain’. looking for may only be short- Doing some form of exercise checkout button. Reflecting on whether your offers lifeline to maritime trade lived, as nearly seven in 10 instead, such as walking or If, after exercising, you’re still 5. Spend for long-term purchase will bring you long- (69%) spenders confess they end following an online workout, keen on making the purchase happiness, rather than a term happiness will help lower up feeling guilty afterwards. may be a good idea. when your heart rate returns the risk of spending on things And with many households This is backed up by research to neutral, then it may be less ‘quick kick’ that only have a short-term having to stretch out reduced by Atom, which indicated that likely that your body is just Weick suggests spending is impact. (PA) Optimism for incomes, impulse spending is something some just can’t afford right now. port’s prospects Edward Twiddy, chief customer offi cer at Atom bank, says: “With the huge changes we’ve seen in the fi nancial climate as despite Covid-19 a result of Covid-19, it’s more crucial than ever for people to ibraltar’s maritime as being able to continue understand their fi nances and sector is optimistic operations as close to normality how to get the most out of their about future prospects as possible, introducing earnings.” after Covid-19, but procedures and protocols to So, how can you resist the urge G key business such as the cruise protect the crew and the local to splurge? Atom has teamed up sector is unlikely to pick up population. with Mario Weick, a behavioural signifi cantly until the latter A huge effort has been put in psychologist at Durham part of 2021 at the earliest, place by all essential services University, to share some top Vijay Daryanani, the Minister working together to ensure tips for spending wisely and for the Port, told the Chronicle. that this revenue stream is kept avoiding the temptation to “This year we have all suffered fl owing. make impulse buys… and continue to suffer the “We now look forward to 2021 consequences of Covid-19 with optimism,” he said. 1. Focus on a future goal which, as we all know, has hit “The vaccine rollout is well the entire world,” Mr Daryanani under way and we hope that If you struggle to avoid said. we will see the back of the temptation, one of the best “Business in general has been coronavirus.” ways to control your urges is by Eyleen Gomez into our harbour have not been are accepting bookings but we affected and the maritime “The cruise industry has been to focus on a future goal that carrying passengers so therefore cannot confi rm those bookings industry has not only suffered devastated and I still feel that saving your money could lead he Port of Gibraltar it is not considered a cruise because the companies have not the negative impact of this we will not see much activity in to, whether that’s saving up for has sustained a steady call. So it is a technical call and confi rmed.” virus in a commercial way, but the sector till the second part of driving lessons or taking a step fl ow of business since therefore full charges apply.” “They are just booking the slots.” also at a human level.” the year.” onto the property ladder. the start of the Covid-19 “So in that sense revenue charges “Crew members were not able “The Government will continue “The benefi ts of saving money T COVID-19 pandemic, applying strict public for the Port of Gibraltar have to travel to their countries of working as hard as ever to materialise over time, so health protocols to facilitate vital been good, so far.” Mr Tirado admits that Covid had origin to be with their loved promote Gibraltar as a premier focusing on a future goal can operations and a humanitarian However, Mr Tirado would like to been challenging for the port as ones in these diffi cult times.” cruising destination and make it easier to save money, lifeline for its key customers. see a return of passengers. it had to introduce new protocols Gibraltar Port and the towards maximising the full whereas focusing on the here As sectors such as the cruise “I think I would rather get hit on in conjunction with Director of Government, in conjunction potential of the port.” and now may encourage industry ground to a halt and the revenue aspect of the port for Public Health. with the Director of Public “I am proud to say that the Port spending,” says Weick. ports shut their doors to foreign a cruise ship bringing in some “We have protocols in place to Health, have worked very was recognised by MedCruise vessels, Gibraltar’s nimble thousands of passengers that ensure that we mitigate any hard to ensure that the right as the most proactive port in 2. Avoid shopping response enabled it to service the spend money in Gibraltar and issues for vessels coming into protocols were set in place to the Mediterranean during the when tired or under the needs of visiting ships safely and therefore the whole of Gibraltar Gibraltar, whether it is a cruise allow crew changes to take pandemic. Together we will beat infl uence of alcohol effi ciently. plc benefi ts,” he said. liner or any other vessel,” he said. place in Gibraltar, as well this virus.” From refuelling and restocking Although the port has managed to “Even if they are going out to “Impulsive behaviour can on supplies, to crew changes that serve the cruise ships throughout anchor.” be triggered by things such enabled seafarers to get home the pandemic, it has not been the “There is still that element have attracted those cruise ships vital adjustments to on-board as tiredness, alcohol, or to their families, the Port of same numbers as usual. of contact between the local to come to Gibraltar purely to do manning, and allow other crew information overload,” warns Gibraltar successfully maintained In 2018 there were approximately population and the local technical calls,” Mr Tirado said. members to return home. Weick. its operations in a diffi cult, 240 cruise calls, while 2019 was workforce and the crew of that “When I say technical calls, I “In conjunction with civil Browsing your favourite online uncertain climate. earmarked to have less calls ship, so obviously those protocols refer to bunkering, refuelling of contingencies, with the local sites when you’re super tired For the cruise sector in particular, because there had been some were put in place very early on the vessel, providing provisions, airport authorities, the BCA and at the end of a stressful week Gibraltar has been a vital hub for relocation of ships, which tends and it has been working fi ne ever spares and also providing them the port authorities, we managed of work, or after a couple of many companies whose ships are to happen from time to time in since.” with much-desired crew changes.” to ensure that those transfers glasses of wine, can lead you to lying idle. response to market trends. “We have had to tweak those “There was a pause in that sector were done as safely as possible make purchases without fully And with Covid-19 challenges The port had higher expectations protocols as we have gone of the operations at the very with as minimum contact as thinking them through. infl uencing most economic for 2020 than 2019, but Covid forward, because the virus was beginning when we had very few possible and today I have not Be mindful of only shopping sectors on the Rock, the income stopped this. The port is hopeful changing and we had to amend fl ights coming into Gibraltar.” had any complaints about that when you feel fully alert and associated with the Gibraltar Port that 2021 and 2022 will be very them in order to mitigate.” “Once that was resolved we operation,” said Mr Tirado.