Do you have one of those friends who always seems to have money when they want something? Why is that? And how can we be like that person when we want something? It’s as simple as spending on only those things that are in the plan.
Save your money now, so it can save you in the future.
It all starts with planning. You have to have a plan. Plan for the bigger things you really want. Think about what you want and how you are going to get it over time. How can you finagle a little more money out of your monthly expenses to set aside and reach your goal?
What you are spending your money on? #budget
- Are you buying snacks/lunch/coffee everyday? Start making your own.
- Do you have a gym membership?
- Want the latest phone as soon as it comes out?
- Can you turn the heat down a couple degrees, turn off the lights when you leave a room, or take a shorter shower?
- Can you put off buying a new car and get a little more mileage out of the old one?
- Do you need that new outfit, pair of shoes, or belt or accessories?
- Do you need those cool looking new wheels, fog lights, or stereo for your ride?
- Could you shop for clothing, furniture, cookware at a discount/thrift store?
- Are you ever asked to work overtime? If you are paid hourly this is all gravy money. Save it for the plan!
- Do you go out for meals/movies/drinks with friends too often? Hit happy hours, go to the matinee, split a meal…
- Do you send your clothes out to be cleaned and pressed?
Don’t think of it as doing without. Instead, think of it as adding to your savings account. Set a goal to make your stuff last longer, ‘new’ can suck up savings fast.
Take a Hike:
This list is just a start, you know how you spend daily/weekly. Jot down what you spend money on this week and see what financial difference it could make if you consciously choose to spend differently. Set your mind towards saving rather than spending. #mindshift
A great author to read or listen to is Dave Ramsey. He provides very pragmatic advice on saving and finances.
Rethink budgeting. If you are barely making enough to get by now, implement the ideas above and think about ways to earn extra income. Factor this into How to Budget Money; a Simple Guide to Spend How YOU Want! Look at side hustles in Easy Ways To Make Extra Money – Part 2.