HOW I SAVED $50,000 IN 2020!
Happy Friday everyone!
Here's how I did it... with my partner of course 😇
- We all wish we could save $5k+ a month but that does not fit into all of our budgets. Assess how much you make and build out your plan. If you make $2k a month, don't plan to save $1500 a month because $500 won't cover all your expenses. Make sure it makes sense for your income and monthly expenses!
2. BUILD A PLAN
- Put aside some time to plan out your monthly budget. Plan your monthly expenses, needs vs wants and see where you can pull extra funds from and/or what you can cut out of your life. Ex. you might have to live without spending $80 every two weeks on your nails in order to save. $80x24 weeks= $1920. That might be the $2000 you need to pay off the rest of your student debt. Think about it!
3. SCHEDULE YOUR SAVINGS
- Set up your savings account as a bill. When it's pay day, make sure you're paying yourself first. Think of your savings journey as an added bill. You have to pay it, you have no choice.
4. CELEBRATE THE WINS
- Celebrate your milestones! When you hit 10k in your savings, go out and celebrate! When you're 80% away from your savings goal, take a break and treat yourself. Really take your time with saving money and allocate time to celebrate your wins and your discipline.
Good Luck ☺️