Don't say me nothing, for me December and January are the most expensive months of the year, but since I discover side hustle I am been able to pay also unexpected costs, but in the end of 20143 and the beginning of 2014 I had a lot of unexpected cost that my savings turn back to nothing...so now I am working to rebuild my savings and honestly I would like to have in the end of 2014 at least €3000 on my oersonal savings...I am working hard with day job and also during week end with extra job in the cafe, I decided that for fun stuff expenses I'll use my dog sitting pay, use less is possible car ( usually I am using it only during week end), and yes I am looking and attending free events...when you decide to have a frugal life, this doen't means that you'll have a poor life...it is absolutely wrong, at the beginning I did the same mistake and my social life turn to nothing, then I understood that is possible to have a rich life living on frugal style... and this helped me also to confirm which were and still are my true friends (true firends keep to stay with you also doing inexpensive thing, the other stay with you only when money go out the wallet)...
|Financial sample from google image but I use one a lot similar to keep track of my expenses and financial goals!!!|
However reading some blogs and articles about savings I started to use some tips and not only for money side but also in other areas....
First of all I make a financial plan: planning expenses helps you to be focused on your goals and write it helps you to see and edit some costs that could be limited or deleted (for example until march i cannot buy new clothes and no new books until mid february), plus I find really good do also a meal lanning so in the grocery you don't overspend on food and your diet is tasting, colourful and healty and seasonal... Statistics said that most of us put in the trash a lo of food, well this doesn't happen in my house, we found a lot of method to recycle.
Having an organized space to keep all your folders in order with all deadlines so you know what you need to pay before it, usually the ideal budget says that you would must to save 50% of your salary but if you're in debt or you need to pay rent/mortage isn't possible, but is wrong also think to save only what keep into your pockets...you would do something like:
SALARY - BILLS= X AMOUNT from X take a determinated % that will go directly into savings and so you have leftover that you can spend without intack savings.
PAY OFF ANY INTEREST DEBTS: ok is always better don't have debts, but if you already have talk with your bank to re-negotiate amount to pay monthly, maybe you will pay a higher amount but with lower interests, if you worked hard and your savings/side hustle can afford the payments do it ASAP, is a great sensation that to be debt free...important on financial documents you need to be really well organized, everything in order so you can find what you need in a while.
After you paid the debt you savings are = 0, no problem you're been good once and you'll need only start again with save, or if you are been so good that after debt payment you have a good amount choose to invest...talk with bank, search in the web do comparisions and choose the formula that workd better with you.
EARN MORE & SPEND LESS: this is the first thing that I've thought doing my first balance and budget, I needed to have X money more monthly to keep everything under control, so this is why I choose to work in the cafe, dog sitting can be considered part of side hustle and honestly side hustle can help a lot -and you can find a lot of idea and suggestions on the web- when you earn more and start to spend less (and keep under control your finances-choosing an online banking ) soon you naturally choose to eliminate stupid and not necessary stuff and in most of times you'll love to save and see you savings amount increase cents by cents, is true if you're still paying debts every month you see that amount increase and then disappears but hei you're paying for your future (student loan, mortage, etc.), so this is a thing that could hurt but is for a limited time, but remember little SMALL STEPS COULD MAKE A BIG DIFFERNCE IN YOUR FINANCIAL LIFE!!!