Did you ever dip into your piggy bank as a kid? You’re not alone!
Come on we’ve all done it at some point! Here are 3 things you need to start actually saving and stop spending!
In a 2013 survey from BMO it was found that women actually tend to save $4000 less than men in a year. Why do you think that is? Yes there are the statistics about men making more than women, blah blah blah but the real issue comes down to the fact the women are “emotional spenders.” Here are 3 practical tips to help you start saving now.
- LEAVE THE CREDIT CARDS AT HOME! It has been studied numerous times and shown that people tend to spend 12-18% more when they use a credit card to pay for purchases rather than cash. Leave the plastic at home, if you don’t have it – you can’t spend it!
- MAKE A MONEY GOAL LIST – Make a list of what you are saving for! If you have ever had to do goal setting at school, work or with a life coach you should know the S.M.A.R.T Goals…but in case you need a refresher here they are again…S – Specific
M – Measurable
A – Attainable
R – Relevant
T – Time-Bound
If you don’t know what you when and what you want to save for then how will you ever have the desire to actually save for it?
- BUDGET – Yes I said the icky B word again. I never seem to get sick of saying it, but if you don’t know where your money is going how on earth are you going to know how much you have to save? Having a list of Income coming in and Expenses going out will let you know exactly where you need to make changes.
WHAT IF YOU HAVE DONE ALL OF THE ABOVE AND YOU STILL CANT SAVE A DIME?
If you have tried and tried on your own then it is time to ask for help. You may have unconscious behaviors tied to emotions that you don’t even know are there. Money Miracles coaching can help. With a proven core process we can teach you do understand your money behaviours and implement changes to get you from where you are now to where you want to be.