Hello my loves!
I hope you are having a fantastic week so far!
Financial freedom is something we all aim for and one of the ways that will get us there is by saving money. It all starts by how we see money and developing good habits that will lead us to success. Saving money requires determination and self-control but it will bring wonderful results to your banking account and future goals. We have to make a conscious decision to take responsibility for our finances and our financial freedom.
So here are some tips that can help you get there fast:
Have separate accounts for your specific expenses and goals. I have a checking account where I pay all my bills from, a savings account for my vacations and gifts, a separate savings account for my emergency funds and my business account for my business expenses. Having separate accounts will help you stay organized, know where your money is going and keep track of your expenses and financial goals.
Have you heard of the term “get richer with 10%?” Saving 10% of your income will quickly lead you to approach your financial goals. Have your Payroll Department automatically deposit 10% to your savings account and 90% to your checking account. Learn to live on the 90% of your income. Next thing you know, you will have enough money saved to get you out of debt and start saving for your future. I learned to live out of the 80% since my other 10% supports my local church and I am able to live comfortably so I know you can to. Stay tuned for an upcoming video where I will teach you how you can live out of 80% of your paycheck.
Do you know where your money goes every week? Have you asked yourself “why am I in such debt?” Keeping track of your finances on a weekly basis will help you see where your money is going and make appropriate changes where needed. It will help you stay in touch with your current financial status so you don’t spend what you don’t have.
Something that always helps me save money and stops me from buying unnecessary stuff is by questioning every expenditure. When I see something I want to buy I ask myself “do I really need this?” “Do I have the funds to pay for it in my bank account after paying my bills?” If the answer is “yes” to both questions then I buy it.
Delay any BIG purchases for at least a week until you convince yourself if you really need to make that particular purchase. Make sure you have the funds available for the purchase and that you will not be going into debt. Don’t fall into the temptation of buying on impulse or because you just liked it. Be conscious and responsible about all your purchases.
If you want to go the extra mile to save, cut back a little on your expenses. For example, if you stop by a coffee shop for a drink every day, cut back by 1 coffee a week. If you save $5 dollars a week that will save you $260 a year, just for that one little change. So start looking for unnecessary purchases you can cut back on that will help you save money.
Look into your current bills to see what calls you can make to save you money. Call your utility provider, cell phone company, car insurance carrier and continue going through the list to see what offers they have and where they can help you reduce the bill. Also, call their competitors to see if they will offer you a better deal. Those calls could save you some serious money.
Practice these tricks with consistency and you will start seeing your savings account going up! If you stick with these tips, they will become automatic. It’s all about having the mindset to save and you will be on the path to financial freedom.
Having enough money in your savings account will liberate you from debt and will allow you to do more of whatever you want, like travel or start your own business. So start acting today!
Now, I have a question for you: Do you have any other tips you can share with us on how you have saved money in the past? Share with us in the comments below — your tips can help us all.
If you are looking for more inspirational ideas to improve all areas of your life; don’t forget to subscribe to Diana Bryant TV! On a weekly basis, I will be answering all your life coaching questions and I will be sharing with you useful tips in all areas of life. You can learn more about the 7 areas of your life here!
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Stay motivated and keep pressing forward to live the life of your dreams and become the happiest woman you know!
I’ll see you next week on Diana Bryant TV.
I dare you to dream Big!