So I’m supposed to be saving money. Easy, right? Ha! I met with a financial advisor (FA) not too long ago and he found quite a bit of money in my budget that was unaccounted for once he subtracted my monthly expenses from my income. When he asked me where the extra money went each month, I couldn’t really give him a clear answer. I know I tend to dine out A LOT, and then it always seems that someone in my life is always having a life event (baby shower, wedding, bridal shower, going away party, birthday, etc.) that “requires” a gift. I feel like I need two savings accounts—one for emergencies and the other for people’s life events.
I have a “major life event” (MLE) that I’m saving for and my FA told me that if I’m really serious about it that I need to be extremely disciplined and I’m going to have to start sacrificing some things so that I can bulk up my savings to accommodate my MLE.
First he said I need to find another source of income. So I started applying for part time jobs. Next, I went grocery shopping in an attempt to avoid eating out so much. I went for two weeks without dining out for lunch (dinner was another story, but hey…baby steps).
I’m having to find ways to be creative in my gift-giving. At first, I felt bad for not being able to buy someone something for their special event, but then as I thought about it, sometimes all people want is for you to be present to help them celebrate and to spend some quality time together. Sometimes, your presence is worth more than your presents.
Recently, an impromptu trip to Best Buy left me on the verge of getting a new cell phone. Even though the offer was amazing (seriously, $1.00!!!), I had to ask myself, “Do I really need a new phone?” I mean, this was an unbelievable deal, but did I NEED it? My current phone works perfectly fine, so deal or not, I decided to keep my dollar.
Every day is a struggle for me. I have to make conscious decisions about what I’m spending my money on, and be okay with saying no to some things. I’m making progress, slowly but surely. I just have to stay focused on my goal, no matter what. Y’all pray for me! 🙂
What are some ways you save money? What are some of your challenges in saving money? Share in the comments.