Wanna know 5 habits to level up your savings?
Saving is hard. Especially in this economy. But saving is important. Especially in this economy.
If you know what needs to be done but you’re having trouble making it happen, maybe these 5 tips will help!
1. Start at the end.
What is your goal? What are you aiming for? Without this number, you’re just flapping in the breeze. You already know what comes next.. How long are you giving yourself to achieve this goal? Then do the simple maths. I want $30,000 in 3 years time. I need to save $10,000 per year, or $830 per month, or $190 per week.
2. Separate the yolk from the whites.
You NEEEED a separate savings account so that you can see the difference. If your savings is just willy nilly thrown in with your spendings you can’t keep a track and you can’t keep yourself accountable.
3. Budgets are boring but necessary.
Find out what you earn. Find out what you spend. Find out what the difference is. If you can, and it aligns with your values, find out where you can decrease your spending to increase your savings.
4. Automate that jazz.
If you are committing to saving $200 per week from your take home pay, then do it. Don’t just think about it. Your may be able to ask your employer to pay a portion of your salary directly into your dedicated savings account. If not, set up an automatic transfer so the same day your pay is credited to your account your savings commitment is transferred to your special account. Without you even thinking about it, magic!
5. Accountability Check In.
It is too easy to veer off track, particularly over a longer term like 3 years. Set up accountability check ins with your Partner, Parent, Bestie or Broker. Every 3 months check your progress. If you’re not where you want to be, ask yourself why?
