Would you like to live your life on your own terms without accumulating credit card debt? There is a way to live life to the fullest, while saving your money for the future. The secret is to pay what you want, with good reason, but in small quantities at specific times and for specific reasons. Once in a while, you should reward yourself and spend money on fun activities. By depriving yourself of the pleasures of life, you may feel that you are missing out on your life. This makes saving more difficult and boring, and you demotivate to save. On the other hand, if you enjoy life, reach your life and spend little money on fun activities, you will be more likely to save money because you will feel more satisfied and less restrained. Much like a cheat day when you’re on a diet, you need a day to splurge when you stick to a budget. As long as you limit yourself to what is best for your finances and goals.
Understand your financial flow
In order to make financial decisions that will improve your present and future financial flow, it is important to understand your current financial flow. Understanding your spending habits is crucial in order to realize how much you are wasting and where you can cut back on certain expenses. For example, if you calculate that you are spending $ 100 more per month than your gas budget, it is likely that you will pay more attention to lowering your fuel consumption.
This process can apply to any of your expenses. Really see where all your money goes can even be the kick you need to get back on track. Review your expenses each week, rather than every month, in order to have a clearer picture in mind. It is much easier to review your expenses weekly and easier to see where you are spending too much. In addition, if you spend too much a week, you can catch up the next week, while if you let go for your dependencies for a month, it could be much more difficult to compensate the following month.
Decide in advance what your future financial goals are
The more you are clear about how you are going to spend your money, the easier it will be to make decisions about your expenses that you will not regret. If you plan ahead, how you will spend your personal money, you will be happier with your choices because you will have had time to think. Once you have set a goal and decided what you really want for your future, you can start making choices today that will help you get there. Once you have that goal or vision in mind, it will be much easier to live in the present moment because you know that you are working towards something bigger. You will not feel deprived of living right now because you know your choices are worth it in the long run. If you have bought impulsively all year long without thinking about the end goal, you are missing out on what you really want. Take the time and think about how you want to spend the money you are saving now.
Open multiple savings accounts
Another way to live in the moment while saving for the future is to open several savings accounts with your bank so that you can save money efficiently. We suggest you have two basic savings accounts, one for emergencies and unforeseen expenses, and one for retirement. Then you can have as many additional accounts as you want, depending on the number of financial goals you have. For example, if you dream of traveling across Europe next summer, create a savings account for that specific purpose and have automatic deposits made. This will allow you to see the progress you are making, which will encourage you to save even more.
Save for spontaneity
You can not predict everything life has to offer. Thus, you must be ready to face spontaneous decisions that you may be facing. Even if the amount is not so important, it is important that you save a certain amount of money every week to spend on fun and / or spontaneous activities and events. Whether it’s a memorable experience, having lunch with friends or local events and shows, you do not want to miss out on an opportunity just because you’re only focused on the future. When you save for fun things, you can enjoy the present while not feeling deprived and not having to worry about putting your future goals at risk.
Prioritize your expenses
With a lot of money to spend on fun activities every month, so you do not just feel confined to saving, it’s important to prioritize your spending. It means not spending your “fun money” for the same thing every week. If you spend that amount at a party having a drink a week, try skipping the next week and spend your money for something different, like going to see a movie you want to see for a long time. Spending your money always for the same will become boring and less entertaining. In addition, if you add new activities to your life, you will not feel limited. Make sure to limit this to once a week or every two weeks, or even once a month, depending on your goals.
Find simple activities
There are so many enjoyable and rewarding activities that you can do by spending little or no money. A sport, for example, usually requires a ball and energy. Go running, go hiking, or just go walking in your local park. Being outdoors is healthy for your mind and body, it is proven that just being active in nature relieves negative thoughts or feelings. Ride a bike, swim at the community pool, or if you have a tennis racket, go play tennis. No matter what sport or activity you choose, the key is to get into the habit of taking small actions that do not require a lot of money.
Cut everything in half
Now that you save for the future and the present moment, you can spend that money. You deserve it. However, you must also be aware of how much you are spending and not going too far. An easy way to do this is to cut everything in half. For example, say you’re going to drink a sangria on a terrace this weekend. Instead of taking two glasses, take only one. Likewise, if you shop around and see two swimsuits that you like, just buy one. Following this simple rule will cut your expenses in half and help you keep control of your expenses in a reasonable and realistic way.
Find joy in your work
It can be difficult to enjoy life when you despise your work and hate being at work. If you have the opportunity to invest in a job that you really enjoy doing, do it. If you are stuck with your current job and can not find other opportunities, start a hobby that could potentially lead you to a business. If you are a writer, start a blog, which can be done for free. If you like to make jewelry or draw clothes, be more serious and start innovating during your free time. Whatever the hobby, if it can potentially lead to a lucrative business, there is no harm in trying. Doing a job you love will help you find the balance between today’s work and the savings for the future.
Make people a priority
Sometimes we prioritize the “things” of your life rather than the people around you. By things, I mean clothes, cell phones, furniture, gadgets etc. All this requires pocket money. However, prioritizing people will cost you almost nothing and will bring you closer to your friends and family. Take the time to visit friends you have not seen for a long time, or visit your parents just to chat with them. It does not mean going out for dinner or movies, but sitting in the backyard and exchanging ideas over a cup of tea or coffee.
One of the most rewarding things a person can do is volunteering. It does not cost a dime and will make you extremely satisfied, a feeling that money can not buy. With a sense of accomplishment, contentment and pride, volunteering is good for your mind and soul, as well as for your wallet.