What is it that you want to achieve with your finances? Is it to have an emergency fund? Is it to save for a specific goal such as a down payment on a home / car? Do you want to save more for retirement? Whatever you want you can achieve it.
Start by writing down your goal (in a SMART format). Then break it down to manageable steps.
For example, I want to save $500 by the end of the year – that’s
- that’s $41.67 per month
- that’s $9.62 per week
Now think of ways to find that money to save
- could you bring your lunch / coffee to work one day a week
- could you add an extra week between haircuts / manicures (if you do your nails every other week that’s 26 times a year, switching to every three weeks would be 17 times a year – that’s a savings of 9 manicures)
- could you cancel or reduce your unused memberships / subscriptions
- could you research lower costs for utilities / insurance
- could you eliminate a fee (bank account, credit card and more)
With this in mind, you could find the $9.62 a week to save to meet your goal.
Remember that breaking it down to manageable steps is key so it doesn’t seem so over whelming.
Let me know what your financial goal is and maybe I can help you break it down in to smaller steps.