Experience: 30,000 and counting.
Hello World! It's Nicki and welcome to my blog.
Saving is so easy yet it seems to be so hard for many people to do. I have four easy tips that can help you save. Lets take a look at the first tip!
#1 Save and then Spend:
This is an oldie but a goodie. Listen it is not wise to spend and then save. Let's put things into perspective, you have 400 dollars and you say to yourself I am going shopping for some new clothes and shoes. Here's the thing you left the house with the intention of spending only 200 dollars, but you get to the mall and you just had to have that purse or that watch for my men readers out there. Next thing you know you spent the whole 400 dollars. What if as soon as you received that 400 dollars you move 200 into your savings account. Now when you go to the mall you can shop with ease that you have already saved 200 dollars and your new budget is now 200 instead of 400. OK, so you didn't get the purse or watch you wanted but you saved 200 dollars that can grow into 30,000 dollars. Let me assure you no purse or watch will give you as much joy as seeing those extra zeros in your accounts.
#2 Separate accounts:
You need to to have a checking account and a savings account. My brother keeps all his money in his checking account this is a very bad idea. Now just in case a finance major is reading this I know there are many more profitable places to put your money. However, this is just the basics and I want to get people into the habit of saving then we can talk investments, retirement, etc. Having a separate account will only benefit you and make things easier to track how much money you are actually saving.
Bear with me don't give up just yet:)
#3 Needs and Wants:
This is going to sound lame but trust me it helps! Write down your needs and wants. Sometimes need and wants can seem like the same thing, and sometimes it actually is. For instance we can all agree we need food yes, but did you really need to eat out every night or is that a want?! See what I mean it can get tricky when creating your list, but try to stay as realistic as possible when listing your needs from your wants and you will be just fine.
Still with me? Great! Last tip up ahead.
#4 Patience:
There is a saying "money doesn't grow on trees", and your thinking it doesn't grown in your account either. First, you want is to make sure you have followed tips 1, 2 and 3 and then you just continue to save and be patient. I remember the very first time I saved 1,000 dollars I was so excited, then it was my 5,000 dollar mark, then 10,000. Now I have three sets of tens! 30,000 dollars and counting.
Whatever you do:
Do Not give up.
Feel free to comment your saving achievement mark. Let's save together and let talk I would love to hear everyone's thoughts and even more tips if you have :). Good Luck Saving!
LOOK OUT FOR MY NEXT BLOG: Memory Lane
Basic training: Air Force
