Why would you save money in the first place? Who does that?
I really hope you are saving your money, paying yourself first, because for the simple reason. If you plan to buy anything major, such as teeth brace (like me), buy a car, a house, you need to start saving money now. Like now!
No buying that trendy books, you don”t need extra perfume, but actually saving money for your future. Have you thought about that before?
Majority of the people don”t think in advance, they don”t examine the future, they don”t think about the future consequences. Are you one of them? Are you buying impulsively?
If you want to learn more about How To Be More Self Aware
What is impulse buying? Impulse buying is in a spur of moment, and it occurs with a wide range of products. It can be chocolate, shoes, scarf, or even a car. Are you one of them?
This is not bad. It is not at all. But the questions that you need to ask yourself in order to prevent catastrophe and bankrupt are: “Do I really need that?” “Am I rewarding myself for that or not?” “Who do I try to impress with it, if anybody?” “Can I come up with something better than that?” “Can I just postpone that buying impulse, think about it, and come back tomorrow?”
There are countless of questions that you can ask yourself before you give your money away.
What I was doing in the past, is that, if I saw some clothing, that I really liked it, I wouldn”t purchase instantly, but if I just couldn”t stop thinking about this piece of clothing, I would go tomorrow again to that store, try on again, and just purchase it, with no regret.
Struggling with money all my life, was just normal for me. I thought that is the way how it goes, until just recently, last 2 years let”s say. I realized that I would never have a car if I don”t save.
I would never have a nice vacation, if I don”t save. I would never have that dream house, if I don”t save. I would never build my business, if I don”t save first. I would never retire early, if I don”t save.
And this is harsh! I had to sacrifice that nice clothing, brand new shoes, or new set of make-up.
Now, I have separate accounts. I have retirement account, my saving business account, that I save money on, and withdraw if I need to invest back into my business.
You need to think first, and then say “Jump”.
Many financial advisors, will advise you that you need to have a separate accounts for the things that you wanna achieve, and I totally get that now. It is never too late to become financially free.
If Brendon says that the book is gem, and it helped him, I am going to believe him, and buy the book for some time in the future. Now, I am just going to research about money, investing, and how it works.
Again, if you wanna buy something major in your life, you need to sacrifice yourself, you need to know your values, and what needs to come first.
What I do now?
Spend only on food. Since this Corona, all that I do, is that I go to work, and after work I go home again. What works for me, is that I plan my meals.
Make the plan of the 7 meals that you are going to prepare in a week time. Take a note of the groceries that you need to buy. I go to shopping every Sunday or Monday at least, and I don”t go to grocery shop at all after that. All the rest that is on my bank account, I don”t touch, it just grows. You can do it too!
Our 5 Primary Needs
Food, shelter, transportation, clothing, health
Have you ever thought about what are our primary needs as a humans, or just you itself?
Really, when you think about what are our core needs, you will come in conclusion that all you need is the food, water and shelter, nothing else.
I am very lucky that on a list of a food, shelter, transportation, clothing and health, I only need food and shelter, I cycle to work, I cycle to shop, I cycle everywhere I go. 😀
What about the rest of the things on the list? I can just ignore them, they are luxury. Now, I am not saying that you should be not taking bus, buy a new jumper ever again, but these are the things that you don”t need, if you wanna save as much as you can.
It is truly in depth article about all the ideas on how. I didn”t even thought about some, until I didn”t read it all. Never stop learning!
Do not save what is left after spending, but spend what is left after saving. – Warren Buffett Source
What are some of your money beliefs, spending habits?
We are the sum of out habits. If you don”t feel safe and secure, consider thinking about changing your habits, but first, detecting habits that are most destructive for your lifestyle. Do you know what these are?
Tell us in a comments what does money represents to you, and what are some of your beliefs around money?