One of the most commonly used statements for managing money is to " SAVE MORE and SPEND LESS " Well we're about to put a little twist on that!
A person who is not financially disciplined is definitely going to have a hard time saving more than they spend and I get it! Saving is challenging but not spending can be more challenging.
How can I spend money on the things that I want and still be financially successful?
Well, the key here isn't to save more than you spend, the key is to JUST SAVE! 💵
What does this mean?
It's best to spend $50 a month on the things you want and save $10, than to just spend and not save at all. You want to position yourself to save without touching your savings. It's less tempting to touch your savings when you have an adequate amount of money to spend.
If you are not financially disciplined and I encouraged you to save $50 a month and only spend $10, as soon as you see something you really want, you would go into your savings and touch that $50 because you have a hard time not catering to your spending desires.
It's important to have control over your spending habits if you want to achieve financial success. Although spending money on the things you want is a part of the process towards keeping money now, it is still best to keep your spending at a limit. Set some boundaries on your spending.
So, how can you satisfy your spending habits while effectively saving in a fun way? let me know in the comments. Subscribe and come back soon for part two, where I give you the tips on how I effectively save while spending money on the things that I want!
Discipline is key 🗝️
Love this. Your expertise is valuable
This is advice. Starting small is always a great way to start. And love the discipline concept that goes along with it.
Woww! This is good & I love that it goes against the grain, it’s okay to spend we just have to be strategic. I plan on using budgeting apps to track my spending & having some of my money automatically go to my savings account.
This is gold! Definitely need to start being more responsible with spending habits. Just because I have it doesn’t mean I need to spend it all up!
My messages keep disappearing. Great post!