Everyone I hope that you’re having a beautiful day today in this video I wanted to talk about how to start saving money and give you my little tips and tricks on how I started doing that how I got out of that and just to keep you motivated to start with you need to think why you want to start.
Saving money what do you want to do with it what do.
You want to achieve do you want to have more freedom do you want to build up some money so that you can start your own business or do you want to save up some money there travel to be more independent very important to put it in writing for yourself as to why you want to have.
That savings and for me at least that works brilliantly because it keeps me motivated we can sometimes feel inspired by others that look they’re living this life or you know they.
Are able to get their things together and stop singing and be one independent and it might look nice for us but it might not make a big difference so if we really truly find the reason why within ourselves this will give you a very strong base to carry on I want to be more financially and I want to have money built up for.
More the cases of emergency if something happens I’m not dependent on any other people and not dependent on credit cards are not dependent on the bank and taking the loans and that will not get into debt I never think obviously as anybody else I do want us to purchase the house and to be able to travel really have stages of savings that one of the stages is to save.
Up enough money for my kids so that they have it as a university fund were to put a down payment towards their house so that they have easier start of life personally think that it’s important to look for internal and external motivators to save money and I personally award to eg us read books listen to podcasts watch videos on yet who feel inspired from them especially I love watching videos of people who got debt-free who were able to buy a house outright how they did it how they save so much money how somebody got out.
Of debt really fast family as I mentioned look for your big wine why you want to save and just raise money from anywhere think of how and what can you sell around your house there are so many things around our house that we don’t use and that can be sold and that can give.
A solid base to our savings.
And once we have that it will give us more motivation and inspiration to carry on so for example my daughter.
Had the huge collection of time sourced and it’s like I don’t know just huge basket so many dinosaurs I sold ten of them in the bundle on eBay.
For 12 pounds and you know somebody bought it somebody’s happy about it my daughter she’s still happy with theirs.
Of the dinosaurs that she has I was able to sell my.
Under the sink storage just a plastic box for 11 parts on eBay just little things Chargers that you’re not using anymore you can sell your old phone once your laptops your own TV curtains people buy anything really and that will give you.
Off will help you to realize that how many things we have around her house can be converted into potential cash and.
That will help you to also take matter your space and make you more aware of what things you’re bringing in your house what things you’re spend your money on and that all can pile up once you have that face filled up you will no longer feel that you don’t know where to start because you have already.
Started your head will be up you will feel more positive and you will be in your saving mode and this will hopefully continue once I read Dave Ramsey’s book Total Money Makeover I took into account on one of his main advise this is to pay yourself first and as he describes how our typical month looks like is that we get the money and we feel rich okay we start thinking how to celebrate maybe we need to go for a dinner you.
Worked almost so hard you could go out for a dinner you’re gonna come out for shopping new clothes and pay your rent your own bill your council tax bills your gas.
Bills your meal plan and then in the middle of the month you feel that you are broke again and start using your credit cards and you get into more debt and this is how you spend more than you earn and you don’t have anything left for.
Yourself at the end of the month that you can truly say this belongs to you work hard.
And this is yours to keep we never have money to keep at the end of the month for ourselves that we actually deserve and that they actually earned a thing to do in this situation is to.
Take a big chunk of money and put it into your savings account just before you.
Start spending any money from your wages so the first thing you do is you pay yourself first you put that money in a separate account.
Best thing is if you don’t have an online banking with that Bank if you just open a bank account with another Bank put.
Your money there cut out the card make it difficult for you to access that money if you don’t do that your.
Savings account will be just a virtual shelf where you can access the money any time you just come pick it up spend it.
Need and you will be left throughout any savings personally think that banking made easy and all these inventions that they are coming up with is not to make our save money is to make us spend more money this way I have a control of.
My money instead of just wiping something sucking.
The cards and just you know sweating on fingers from one account to another and the money is gone our lives remember.
You are entitled to be paying money to yourself first because it was very hard to earn that money you’ve worked so hard all months to be paying to other people so it’s a good thing probably just to write down whom you’re paying your money to every month all of the people all of their companies and see what helton lives you can have maybe you don’t need expensive new phone and you can use.
Your sim only card maybe you don’t need a TV subscription and you can just use a simple box or maybe you don’t even need a TV at all you can just watch movies or programs.
Online that are free of ads think how much money you’re wasting every month and make yourself a priority.
So that you build that confidence of being in control of your financial life I really like this difference is not that you need to live your life like no one.
Else now so that you can live your life like no one else later I want to be sure that in 10 years time you feel comfortable confident you feel.
Free because you have build up savings and you have that freedom to do whatever you want in your life when we spend all our wages at the end of the month we still feel like we want to be worth it and that we want to spend money and we are able to do it and then this is when we start using our credit cards and I personally have no credit cards I used to have it I.
Got in a lot of debt and eventually I just cut it all out my view credit card is that you are stealing from your future self you are using the money.
It’s that you don’t have or you are using the money that you’re going to earn later and that you are going to need later as well this live on an autopilot where we just swipe and swipe our cards endlessly without being present alone for inside advice would be cut your credit cards and use cash.
Whenever possible if money is actually going from you to someone else and you just register the fact that you are spending you obviously see that the money in your wallet is finishing and then you need to take control of it if you are using your.
Sorrow and less money so pay cash whenever.
It’s possible and start living within your means my advice would be at the very beginning write down every penny you spend and it can be a very annoying and it can be time-consuming I will be surprised that there are so many little things that add up.
Occasional chocolate cookie coffee an extra thing that you bought for your meals these things adapt to really big amount of money at the end of the month when I stopped buying coffee outside and sometimes of iced coffee and a cookie and I noticed that I and about 100 or sometimes over 100 pounds a month only for that and that’s a lot of money a hundred.
Pounds can go to savings easily you so probably help you to rethink and evaluate how you budget your month and how you manage your money and possibly improve on the skill set that will help you to earn more money I hope these.
Tips we’re useful for you and I will be making more financial videos in the future so if you have any questions or any tips on how to start saving money please leave your comment below and I will see you in my next video super bye for now.