In my first mood, mind, and money blog, I gave you some very helpful tips to set you up with a concrete foundation (pun intended). Here’s part deux of what to do next once you have uno in place! All of these tips will help you save your money and your peace of mind!
Sell! Stop! Save!
Trust me! You neither need nor are you using everything in your home. Determine what to eliminate, dispose of or suspend even if it is temporary. Do you need several streaming services or will the three that you mainly use suffice? Stop memberships that you’re not using. Sell your gently used items, no longer needed furniture, etc at a consignment store. If you’d rather not share any of the profits, then have a yard sale. Feeling creative? Paint and or reupholster some of your furniture, then watch your savings soar and your mood improve as you feel proud for what you’ve accomplished.
Off With Your Debt!
If you can get rid of memberships and other unnecessary bills, then use the minimum payments in those debts to tackle larger balances. It doesn’t matter whether you begin with smaller debt or larger debt. The key is to pay off your debt. I like to begin with lower balances because I get more reward out of seeing smaller debt disappear fast! Furthermore, not only can you get rid of smaller debt quicker, but also you can combine past minimum payments and use them to pay off larger debt. Another option is to deposit half of your combined minimum payments into your savings after you pay the debts owed off and use the other half to pay off larger debt. This may delay how quickly you terminate larger debt; however, you can still enjoy watching your savings grow.
Compete With Yourself
It can feel taxing and mundane to scrutinize your budget, track spending and save incrementally. Want to make things more interesting? Compete with yourself while out shopping. For example, at the grocery store, even though I set a spending allowance, I love to challenge myself to see if I can spend less. This forces me to truly discriminate between what I want versus what I actually need. Not only has this personal competition heightened my awareness about how much I spend, but also where I spend. My favorite places to buy groceries are at international food stores and other local farmer’s markets. There is a direct connection between our mental health and our gut health. Treat your body right and your mind and money will follow. Be sure to save what you don’t spend.
Treat Yourself
I know this advice seems contrary to the ultimate goal, but we, humans love to reward ourselves. Reward yourself for remaining focused and diligent about saving, but set an allowance for it. Plus, all work and no play makes everyone unhappy therefore, treat yourself. You can use the extra $20 you didn’t spend from grocery shopping to purchase those earrings you’ve been wanting, spring for a specialty cup of Joe at Starbucks, or purchase something that connects you further with your ultimate goal or future dreams. Invest in your dreams and never stop dreaming. When we actively work towards what we want in life, we feel more optimistic, satisfied, and joyful about our lives in general.
Talk, text, and Tame the Isolation
Not only can remaining disciplined, be boring at times, but also it can feel very isolative. The isolation can lead to feeling burdened, burned out, and depressing. Join a money saving group, start a money saving group, or get an empathic, accountability partner. Surround yourself with people that you can celebrate your little victories with, but also ask questions when necessary if you feel stuck. Not only will you expand your knowledge, but also you will discover that you’re not alone, which is perhaps, one of the most valuable reminders that we can have.
If you’ve made it this far, then congratulations. Still need a little more support? Request a consultation with me so you can feel great again! Need more financial wisdom, click the links below. Please note that I make absolutely no money from referring the below resources. I also do not share in all of their opinions, political views, or religious affiliations. Please use these resources strictly for helping you learn more tips to saving money.
Ramsey+ – Ramsey (ramseysolutions.com)
Paris Woods – Insider (businessinsider.com)
Robert Kiyosaki is the New York Times best-selling author | About | Rich Dad
