I hit a financial rock bottom, got my act together, went back to school and became an Accountant. I want to share some of the tips that helped me get out of my rut and also knowledge that I’ve learned through my education! We in this together. THERE SHE GO👑
As we embark on a new month, what a great time to revamp our budgets! We all want financial freedom and for a lot of us it seems like it’s going to take forever to get there. I was raised by a single mom and watched my mom struggle month after month. I’ll be honest, to this day I don’t know how she made it happen, but she did! With the resources we have today, I know we can!
I think most of us women love to spend. No matter what we are spending it on, it’s important to us at the moment. The question isn’t whether it’s important to you, it’s “is this a need or a want.” I find myself saying that a lot. Not to say we shouldn’t treat ourselves, but if you are trying to save money, and be in a better place financially, sacrifices have to be made. My favorite excuse was “I don’t make enough” but in reality I was just spending too much!
Keep all your receipts for 2 weeks. Get a visual for what you are actually spending. Check your bank statement for the last month. See where costs can be cut. I know a big change we all can make is eating in rather than eating out. Think about it. If you spend $5 a day on lunch (and let’s be real, we spend more than that ) for even just 4 days a week that’s $20. That $20 has lost its value because eating out is not a need and that $20 would be more useful spent in another way or even better SAVED!
When I started looking at the value of money, I started looking at the longevity of it, where can this $20 take me. It changed my total outlook on my finances. I became very reserved and got my shit together! I started having money to pay off dings on my credit. I actually started having a savings. I realized I spent money on a lot of things that I liked, but they didn’t hold true value in my life.
The envelope system!! I got this idea from my mom! I’ve been using this since I started working at 15! It allows me not to overspend and see exactly where my money is going. It’s also a great way to start a savings goal. Discipline is everything when it comes to controlling your finances. It’s ok to say no. It’s ok to put things back. It’s ok to grocery shop with a calculator ( I do).
It’s so easy to swipe a card and even easier not to keep track. Bringing a specific amount of cash allows you to stay within your limits. I guarantee you will find yourself spending less and saving more.