Money Tips from An Ex-Banker Turned Attorney: Simple Keys To Wealth.
Happy New Year!
What I am most passionate about when it comes to finances is being able to share what I know with others.
What I have found while talking to friends and loved ones, is that there is a wealth of information that is not available to them without strenuous research or time consuming antics. Working with financial institutions for four years as a financial Service Representative taught me a few tricks for saving money.
Working with money has made me a finance nerd, I have come across so many hacks to save and grow your income!
Now these are not ultimate couponing tips or ways to cut off your gas usage in half, but I am sure I can help you increase your income while saving money and eliminating unnecessary spending.
Saving Tips:
Automate!
Now this may seem super simple and basic, because it is. Basic is not always bad. This one is HUGE.
If you have direct deposit or some type of automated income coming in, then your savings should definitely be automated.
You should not, I repeat, should NOT be manually transferring your savings after you’ve paid for all the things you need and most of what you want. If you are doing this you will notice that your savings are probably menial and underwhelming at best. I say at best because when you manually transfer your savings you tend to not have any savings.
You will use money that is not allocated and that is just the way our brains are wired, it's not your fault, boo!!
Start!
Now this is probably even more basic than the first one, but that’s the good news! That means it’s doable right? Really, you don’t have to save your whole paycheck every month when you have other debt or a small income!
You just need to start and make SMART goals when it comes to your savings slay! You have to make sure that you are thinking ahead so when you have income that comes in you will save it first. ONLY spend what’s left after that.
You cannot keep pushing off your savings goals and think you will have a mature account or emergency fund. Also don’t be discouraged when things emergencies, overspending, unexpected events come up and take income. This just means you regroup don’t quit! Trust me it gets easier, and once yo get the ball rolling you will want to keep seeing it grow!
Be Specific!
Now saving can be elusive because it doesn’t seem attainable or it seems too hard. Literally saving money can be one of the easiest financial goals you can do. It does take a little planning and foresight, but it is completely doable. You have to be specific on how much you want to save and what it is for! I have heard tricks like rename your savings to something you want to do like, Miami 2018 or New Couch Fund. These are great, but the main thing to me is making sure that you have a specific number in mind and then move form there.
Breaking down a huge number to know how much you need to save has always been a better tactic for me because it seems way less difficult to do $50 a week verses $250 a month. Right? Or is that just me?
Leave your saving wins below and let me know if any of the above hacks are helpful!
Happy Savings Lovelies.
