How To: Save Money From Zero
I’m sitting at my desk, looking out over my parent’s backyard. I come here to work because I don’t own a computer, or have Internet access at my place. I’ve started setting aside money but know that soon the time will come I will have to spend it on my small business. But do I have to spend it all? Or is there a way of saving money when you seem to have absolutely none to spare? Of course. Here are some thoughts.
Do Everything At Half-Pace
I want everything now. Financial security, a booming career, a savings schedule that will help me buy my own place one day. But I can’t have it now and the more I fixate on getting it all quickly, the faster it will slip from my gasp. There are a million examples of how this is the case- you’re desperate to get out of credit card debt, so pay off a whole heap only to leave yourself with no money to pay the gas bill. Slowing down the pace of your schemes and your expectations is not only going to give you a more solid financial pace, you’re likely to stay more sane into the bargain. So what your parents bought a house by this age? So what if your friends have better super? If you can manage to set up your savings in a sustainable manner and live within your income, you’ll end up winning. Find a saving level you can deal with, and direct debit it away on the day you get paid.
Make Everything Automatic
Even if you’re at the point of paying all your bills via direct deposit- definitely a worthwhile measure, as companies like Integral will waive the bond if you set up a direct deposit- then print off a monthly calender, stick it up on your fridge and write down the day that each bill will be coming out. Set reminders on your phone, so you can check that you have the money set aside and don’t end up in some kind of emergency situation and having to use your credit cards.
Get Conscious
Saving money is as much about money consciousness as it is about making drastic cuts. You may not even have to cut out the things you really enjoy if you become more conscious of the money you are spending on things you don’t really care about at all. If the coffee a day habit matters to you, get more conscious about how you shop. Without a doubt, you probably buy several items you don’t need and will never use. Try and have a day without any spending once a week- you might think you do it all the time, but you’ll realise when you try how hard it is to actually not spend a dime beyond what you already pay in electricity and rent etc. Getting more conscious of what you are doing with your money will automatically make you less likely to fling it around.
Make The Call
Lots of people are stretched because there are a million necessities they can’t afford- looking after kids, a house. These are unavoidable and unchangeable costs.But sometimes we are trying to be too many things at once- trying to cut down our working hours and keep up with the Joneses at the same time. Trying to consolidate our debts and put new wardrobes on our plastic simultaneously. Make the call. Work out what matters to you. It doesn’t matter what it is, which one you choose, just make the choice and go for it. Whether it’s a life of simplicity and smaller income, or higher hours and a nicer car- both are valid decisions, as long as you commit to them properly and stop trying to have cake and eat it too. Your finances will thank you for it.
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