Saving money can be challenging. The process is very much like putting yourself on a diet. The following ideas and examples may help you to your goal.
Did you know you can apply the same habits for dieting to saving money? It’s about changing bad habits into good habits. It takes time, discipline and focus. You have to decide it’s time and commit.
Get it down in plain sight
Write down your short term and long term goals and post them where you’ll face them every day. For extra incentive, clip pictures of your goal item(s) along with it. www.ewealthwatchers.com For my husband and I, we wanted to pay off some small credit card debt and then put those minimum payments in the bank.
Balance your deposits and debits daily, like a food journal, it keeps you honest and on track. Once a week check yourself against your online statement. Our check register had cobwebs on it, it had been so long out of use. It stunned both of us to look at all the little amounts we spent on a daily basis that we didn’t even think about. Those pop and chips stop really add up. We decided to stop those, too, and bank that money instead.
Giving up for the greater good
This is where will power comes in. Sacrifice can be painful especially if you’ve been splurging for a long time. This is why you need to face your goal page and pictures on a daily basis. My husband and I gave up our storage unit and donated most of the items. We put the $83.00 in the bank instead. My husband also decided to pick up a part-time job for three months. We applied every one of those checks directly to those credit card bills. We were able to pay off four of them and a debt owed to a family member. Cha-ching.
Create a competition
Ask a spouse or friend to buddy up with you for some friendly competition. It’s a great motivator and helps you stay accountable. An occasional bet won can up your savings. I bet my husband a foot massage that he wouldn’t stay on his lunch budget for more than a week. Pew for me, I have to rub those stinky feet. I smile, though, because our savings are adding up.
Watching where your money goes is like watching what you eat. You have to make choices, sacrifices, and keep track. It all pays you in the end. The sense of freedom my husband and I felt was an unexpected surprise to accomplishing our goals.