(7 minute read)
Half the battle to any task is wrapping your mind around the task at hand. When it comes to money, one can walk a fine line between plunging into scarcity mode or selling the farm, neither a place I want you to go 😉 The following are a handful of my personal mindset do’s and don’ts on how to save money and tips that help the process flow.
- One of the greatest strengths to saving is anchoring your choices to your values and bigger picture vision. If your spend-choice does not bring you closer to your bigger picture vision and does not align with your values, this is a clear no-spend zone.
- Save consistently and in bite-sized pieces. Literally visualize yourself layering money on top of money. In a literal sense, save that money in tha’ bank (just use the visual as a visual) 😉
- Be grateful for what you have vs. what you do not have. When you’re grateful you “get to” pay your mobile bill or “grateful” you can afford nourishing groceries, your gratitude mindset will shift you into needing less.
- Eat clean and ditch sugar & processed foods. Having a clear mindset helps you make clear choices. When you’re foggy and sluggish there’s no room to make proper choices or even put your savings mindset on. This is key.
- Mind the company you keep. When others have healthy spending, saving & investing habits around you, you’re more likely to adapt to these habits and work towards them. When other’s have poor and reckless spending habits, their energy and actions will inevitably influence yours. Find a running buddy: a coach or mentor who can pace you into victory for larger goals (homes, stock market & major investments), or choose a friend who’s working towards the same goals that will help you stay on track. I.e. back to: the company you keep.
- Keep spontaneity at bay. Spontaneity works when you’ve banked for it, though if you’re intent on saving, remove temptation.
- Out of sight out of mind. This too, is full-on mindset. Unfollow and unsubscribe from those with lavish lifestyles if they influence you to spend. Soon you’ll forget those images exist and you’ll no longer project them. This won’t mean your taste will change or that you should ban yourself from these wants, this simply means you won’t ignite the trigger if you’re not wanting to.
- In the same mouthful, comparison is the thief of joy. Remove comparison from your mindset and you will easily save instead of “keeping up” with whomever you’re coveting. Covet healthily!
- Be options-oriented. Don’t envision yourself having limited choices, envision yourself having a sea of options (which most of us in first world economies are privy to). Treat deal-hunting for options like a freaking victorious challenge.
- Indulge so as to not overindulge. Your mind will only stay healthy if you’re positively feeding it, and in my view – feeding it healthy nuggets now and then. Small rewards along the way to achieving abundance. Know your saving parameters and allow yourself intermittent rewards within them along the way to your larger saving’s goals.
- Create a luxury (to you) and quality livingspace (the best you’re able within your budget). When you’re comfortable and grateful for what you have, you’ll be less likely to be replacing and upgrading that which you have – while attempting to save.
- Auto save. Back to out of sight, out of mind and layering funds upon funds in visualization while you’re literally doing this. Have your chequing account auto-debited every two weeks to move a set amount into a savings account you can’t access with your debit card.
- Self-talk. Believing you’re inching closer to your saving’s targets vs. complaining about how far you have to go will get you where you want to go faster/quicker.
- Think beyond your social circle, neighborhood and city. The world is huge, as are your opportunities if you world towards your bigger picture vision instead of feeding instant gratification because “it’s the norm” around you. Just like thinking there’s “no one to date” because they aren’t in front of your face is the same as not having a “reason to save” because you can’t see it short-term. Think about it.
- Own it vs. speaking like you don’t. You talk about being broke, you’re literally getting more broke by the minute.
- Enjoy yourself when the opportunity arises. Living in guilt = living in scarcity. Back to treating yourself along the way and indulging once in awhile so as not to overindulge, this is a mindset tactics that works with health as well as money. Spontaneity you say? I say well-calculated choices and healthy trade-offs 😉
- Treat savings as earnings. Motivate yourself with small savings targets to reach a bigger goal. I.e. Small savings to purchase that plane ticket.
- Know when to make investments in knowledge & skills and upgrade your life so you can earn more to save. This may seem counterproductive, though risk/reward/growth (& belief in oneself/stretching) is part of my credo.
- Always do the math. Does the opportunity outweigh the investment? Be very real about choices when you’re saving because the numbers never lie. Write that shit down on paper. When you see things on paper it’s a huge reality check, for the positive (and negative).
- Think rich, expand your universe and operate from a love-based and solution-oriented mindset. You can only go as big as you believe and if you’re limiting yourself into can’t, someone else’s love-based solutions will blow right by you, and we wouldn’t want that!
Everyone is different in terms of mindset, practise and money habits. You must want something more than the habit or position you’re rocking right now and that something is will get you over the real hump to where you want to be. If you get tripped up, hit me up! I’m here to help.
Love + Serious Prosper,