You want to save more money, so you’re budgeting, trying to track everything you spend, and saving as much as possible.
You want to make more money, you’re doing your very best at work, and try to let that side hustle grow to its fullest potential. You want to make money investing, where you are trying different investing techniques to make money asap.
Putting money aside will be treated as the first bill of the month instead of just saving what is left over, which tends to be less. When you do this, you will be rich in no time!
If you’re thinking about what product you want to buy, and a few days later you still want it, go for it. Most of the time, you’ll find that you forgot about a product already. What a way to save money!
The thing with a no-spend challenge is that you will learn exactly how much you spend and on what. You’re old money habits get replaced with new ones, where you learn not to buy everything in sight.
When you do use cash, keep your change when you can. If you’re receiving cash after buying something, put it into a jar and it’s like giving yourself a gift when you eventually cash it out.
If you’re adding it to your automated transaction at the beginning of the month, you won’t even miss it.
If you’re deleting your banking app from your phone, it will become a little harder and you will be less likely to touch it every month. When you can’t live without your banking app (like me), try transferring your money to a savings account at another bank.
Cash enables many people to save more money. It’s tangible, you see how much money you spend, and how much money you have left.
You may want to divide the money you want to save into smaller amounts so that it is easier for you to do. For example, you’re saving $5 every day.
Every month I put aside an allowance, for money that I can spend on whatever I want that month. Some months I spend it, some months I don’t.
Build up your savings account or pay of debt, instead of increasing your spendings.