Live within your means and start saving today!!!!!!
I’m a lover of nice things and unintentional spending was one of my weaknesses, show of hands anyone who love a good sale. Sales are great especially when you have money to splurge however not so good if you are on a budget and money is tight.
During the lockdown I got a chance to focus on my financial goals and wealth building, I had extra money to spare therefore I made a list of questions to guide me along:
· How do I prioritize cost of wants/needs during this lockdown?
· What are my debt repayment plans and the effect of interest’s rate?
· How do I gain financial wholeness?
· What saving avenues to take?
I started making deals with myself not to go and spend unintentionally this is true story no gimmicks, I work from home so that made it much easier and when I go for nature walks, I’ll intentionally leave my debit card and just have the exact amount of cash I intended to spend. This new discipline helped me to transformed more healthy saving habits. I was surprised as I didn’t know I was capable of reaching set financial goals (I made sure these goals were realistic and attainable). I celebrated every small accomplishment and that kept me motivated. The new me embraced the power of intentional spending, starting holding myself accountable and how saving with intent has saved my financial struggles. I even came up with a slogan “not all every fashion trending, requires spending.
Below are my creative saving tips, which include cutting spending and creating multiple saving accounts:
Open saving/investment accounts with online banks, I have no access to these accounts to transfer funds; therefore impulse was unlikely as it takes 3–5 business days to get money.
Invest more in retirement funds, saving for the future as this was on the back burner.
Labeled money jars Vacay/Staycation $150, Fund Adventure $50 and Groceries/Miscellaneous $150. I put money in these jars on biweekly basis (payday).
Scheduled more interactions with my bank advisor, learning the art of getting deals and negotiations…
