We have been bamboozled by the lives of celebrities and those who have fame and fortune.
It has given the impression that in order to save money and make big moves in life you have to make a lot of money when this is actually a myth. The key to saving money and being a smart saver, outside of making thousands of dollars a week, is to establish a good set of healthy habits.
On Instagram, the most wealthy investors, even your favorite business gurus, stress the importance of having several streams of income, so that you are never left broke and unable to pay your bills and eat if unemployment or tragedy were to strike.
The point of stressing daily practices for becoming a money saving expert, even when you're a beginner and don't know the first thing about saving money, is to figure out how you can implement them in the smallest of ways.
With the price of city living rising, it became essential to figuring out what not to do when it came to managing my cash flow and saving.
As a full-time college student some of the ways that people were able to gain extra income such as picking up more shifts, working a second job, delivering for online services (UBER eats and Postmates) were not something I could comfortably do without experiencing burnout.
Keep reading to find out what habits I implemented to maximize how I use my money and became a successful saver.
Related post: How to set SMART financial Goals
Planning for the future is something that we were all raised to do.
Whether this looked like saying you wanted to be a doctor, what college you would go to, what jobs you didn't want to do, or what your ideal family dynamic would look like, we as humans are always looking ahead.
In some ways it feels like we are trying to outrun time.
And only when we remember to be mindful in our daily spending and personal decisions, are we exercising our ability to choose where we invest our energy and time.
Think of where you want to be in X years
If you consider how middle school was 3 years, high school lasted for 4 years and college also lasts for 4 years (assuming you're not part-time) we are meant to go through life changes.
We are not suppose to stay in the same position or economic status for the remainder of our time on earth.
Being able to reflect on whether you want to buy a house by the age of 30 or afford a year to focus on career opportunities instead of worrying about losing income, is something that can keep you focused.
Helps you to determine your why
What is your why? How do you know what your purpose in life is?
It's the thing that keeps you going and centered when chaos seems to be stirring around you.
It's the thing that makes you want to volunteer in a crowded soup kitchen during the holidays or the reason why you return to a job that doesn't seem to appreciate you for sake of the clients you assist.
Wanting to help others
Creating new things
Having freedom to make your schedule
Having more time with children/family
Financial security (large savings, passive income, traditional retirement)
Being prepared for the unexpected
Saving can be hard when you like to buy things and you have cash sitting around in the form of an emergency fund.
Creating a financial cushion can be difficult when you are deciding whether to cook after a long day or spend $50-$100 on a delivery service.
You begin to test the boundaries of yourself and what you considered possible.
It forces you to remember why you are capable of eating out less, staying in more, and and avoiding window-shopping to benefit your future.
Shapes your current habits
Whether you're fresh out of college, just starting or deciding what you want to do now that you're approaching your 40's, you're able to see what you did in the past and reflect deeply on it.
stating what happened
how it made you feel at the time
deciding if there were any consequences of poor spending