It’s hard to save money. Rising housing cost and expenses take away more than half of your check. Especially if you live alone. But wait…there’s more…
Look at those shoes 👠👠👟👟 And that new Apple watch ⌚
It’s happy hour 🍹
I’m too tired to cook 🙍
We can charge that trip and pay later (ignoring all the interest charges when you know you can’t pay it off)
Hey, I’m all about living a full life. You can do whatever you want BUT you should do it after you tax yourself. I shoot for a 20% tax on myself that goes towards savings and investments. I know some of you might be saying you can’t do it. That you have kids and bills to pay. But what if the government put a 20% tax on you? It would suck but you would have to pay it. Try to think of it that way (thank you Tony Robbins). You’ll have a cushion for emergencies and your future self will thank you for it. Automate and work with what you have. Or at least, make sure you’re putting something away.
(allocating more into your 401K, HSA and IRA will lower your taxable income. Means – giving less to the IRS. Keep more of your money. Most of us aren’t in the 1% bracket where we get great tax breaks)
I recently realized two things with Amazon. I order way more things than I actually need and the amount of trash it forms is insane. I love things and I love convenience. But the fact that it’s cutting into my bank account and adding to the landfills…time to cancel my Prime membership. Actually, it renewed a few months ago and they won’t refund me🤦🏾♀️ There’s still Prime video and other perks at least. And when I do need to order something, I’ll try to make sure it’s not just a couple of things. Bulk more together to prevent piling cardboard boxes and plastic waste in the dumpster. Don’t care about the environment? Well, I’m sure you do about your $$$.
Know what your monthly income is and what your monthly expenses are. Cut whatever you don’t NEED. Buy less junk. Then start automating. It will be a slow start. The more you save, the faster it will grow. So the next time you feel lazy to cook, decide if $100 or $125 looks better in your savings. It doesn’t sound like a lot but once you make it a habit, a year from now you’ll see the value in making better choices.
Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest – Wiki
This is the easiest way to have your money work for you.
Money is one of the major stresses in life when you don’t have enough of it.