How honest are you about your finances? Are you ashamed at how much you spend at Chipotle? Extra guac hurting your wallet?
Time to get real.
One of the most popular New Years resolutions after losing weight and perhaps traveling more is saving money. But then life happens. Whether it be unexpected expenses, retail therapy, or too many happy hours, we abuse our wallets and pretend to be ignorant.
In this final quarter of the year, jumpstart doctoring your wallet now rather than waiting for January 1st.
First, identify where you’re overspending. Be brutally honest. Is it Starbucks? How about pricey lunches? Can that cable bill be brought down?
Once you’ve identified where you’re coins are overrepresented, develop a strategy to combat it. Brew your own coffee in the morning. Pledge yourself to bring lunch to work at least three times a week.
Start with building small habits that are realistic. A lot of our over spending habits are birthed from our innate need for convenience.
Second, set yourself up to save. For some, 30-day challenges like saving every five dollar bill you come across for the month works. For others, saving without realizing is more beneficial.
If that’s more your flow, look into apps like Qapital or set up direct deposit and allow your bank to pull 10-25% from your check. It’s as though the money was never there.
Third, get creative. Saving money, no matter how much income you have pooling in, takes some crafty planning.
Grab the fellas, invite them to your place for Monday Night Football – admission, everyone brings something, whether it be a pie of pizza or case of beer. Ladies a night of wining and dining could certainly be achieved in the house and bring you all closer as you cook and laugh together.
What can be done spending money in bars and restaurants can certainly be done in the house for half the cost.
Lastly, chart your progress. Set some monthly goals to strive towards and build upon them. When you’re working towards something, like a number for instance, you’re better set to reach that goal rather than saying “I’m saving.”
Go get those coins.