If you want to begin saving money then this post might be just the push of encouragement you’ve been looking for to save, save, save! But on the other hand, if you’re a spender with no inclination to save, then you might not be as excited with what I have to share.
Years ago, when I had my first job I decided that I wanted to set a bit of money aside in savings. As I recall, I was borrowing a laptop at the time and I really wanted to purchase my own. After a few months of saving, I was finally able to afford a new-to-me laptop! I was so excited with my purchase and so grateful to have been able to save up to purchase it.
I immediately began setting a bit of money aside again – not because I knew what I wanted to save for, but because I wanted to have some money set aside once I discovered just what the next thing was.
If I recall correctly, the second place my savings came in handy was in beginning a small side business. I had to order supplies and packaging and was once again so grateful for the small amount of money that I had saved up to pay for this new opportunity.
Once again, I began saving money. A little bit here and a little bit there. Not because I didn’t want to spend it all, but because of the possibilities that having some saved ahead seemed to open up to me!
Now four businesses later, I still set some money aside. How do I do it and what am I saving for? I am currently saving for “the next thing”. I have no idea what it looks like right now, but I am getting ready for it! How do I save money and not struggle with spending it all? I’ll share some of my thoughts on the matter with the hope that it helps you discover your own!
Tip #1: Don’t focus on what you can’t buy if you save your money rather than spend it.
For a little while this hung me up. My sister’s made more money than I did and they got to buy more things – and what they picked always seemed super fascinating! It was hard not to try to keep up by spending all of my money on things that seemed neat like what they found. And then one day I realized, rather ironically really, that money doesn’t buy happiness. I wasn’t thrilled with the items I was purchasing, I was simply spending the money.
Once I realized this, it made it easy not to just arbitrarily spend money. The items I was buying weren’t things that I was inclined towards. Sometimes being picky can be a real blessing! So instead of trying to keep up with my sisters, I just celebrated with them what they bought and how happy they were with these items. Slowing down on my own spending left me money to set aside in savings!
Tip #2: When saving money is cash or a savings account better?
I’ll be honest with you here, when it comes to you and me – the non-billionaires of the world – I don’t really think it matters. True you can sometimes find a bank that offers a bit of return on your savings. But at the end of the day, the amount that you and I put aside can just as easily be a stack of cash in a drawer. What matters most is which is easier for you. Definitely be smart about it and put it somewhere safe where you won’t lose it.
Saving money doesn’t have to wait until you have a specific savings account. Also keep in mind which will work better for you. If you really want to save but having the cash at hand is too tempting, definitely get a savings account and put your savings out of easy access. On the other hand, if watching your little pile of money grow is what inspires you to keep saving, then do that!
Tip #3: Choosing the right amount to save.
Isn’t this what we all want to know? How much should we save? In a perfectly organized world, I might suggest a tidy percentage of what you make. But in the real world, there are a multitude of factors which you must consider. Personally, when I started out I saved a set amount – maybe $50 a month. I had to pinch pennies a bit, but it was an amount that I could consistently save.
These days I still have a savings account, but I don’t aim for a specific amount to save. My primary goal now is to keep everything paid up and current and then set aside a bit of extra. For instance, I had to buy new tires for my vehicle a month or two ago. Once I paid for those, I didn’t put as much in savings as I had been planning to but I didn’t fret about it because the tires were paid for!
Tip #4: Don’t make a big deal about it.
In the log run, it doesn’t make you a better person if you save your money or if you don’t. It is merely a suggestion as to something that might open up incredible opportunities to you later in life! Don’t do it to the point of living with a starvation mentality. Be sensible and realistic. And as always, pray about it. God’s direction is a million times more applicable than tips anyone could suggest!
Be sure to let me know if these tips were helpful to you! If you choose to save (which I must say I recommend as it has led to some pretty neat opportunities!) or if you choose not to, I wish you well! Fascinating opportunities are not guaranteed if you save money, but they certainly are more attainable should they present themselves!
Until Next Time!
Hope.
PS. Colbert Clothing is yet another opportunity that I was able to act upon due to a small amount of savings that I had set aside! Enjoy!