Savings Mantras: What Works And What Doesn’t
I like the odd mantra, I’m not going to lie. Not every morning, into the mirror, but at the crucial junctures in life, the mantra doesn’t go astray. But what mantras work? And why are some completely useless in helping us get on top of our finances?
I’ve got no way to prove this but I would suggest that mantras are never going to work if they have no real bearing on your life. Just as repeating a ridiculously small number as a weight loss mantra is going to leave you depressed and eating chocolate, so too will telling yourself you are a bad person every time you spend money. Here are some mantras that work.
”Is It A Need Or A Want?”
Not a revolutionary mantra, but an effective one. Being able to distinguish between a necessity and a desire is probably a skill that’ll lead to a much happier life, and is one I intend implementing in my life any day now. We don’t need designer jeans, expensive cars or tickets to Sufjan Stevens (my bad), we want them. And want is fine- if you budget for it.
Life is meant to be enjoyed, and saving is about covering all your needs and future, and having a bit spare for the wants. Knowing the difference will help you from spending money on things you don’t need or really want in the long term.
”Sweat The Small Stuff”
Every little things counts, especially when it comes to finances. In life, the small things like minor irritations or disappointments are all part of the rub and not something that we should lose sleep over.
In our attempts to save money, nothing is too small. Every little expenditure can sink you further into debt, but the reverse is also true. Every little bit of money you can invest will be important later on.
Cash Is Better Than Credit
Always and for ever. If you can live a credit-free life, you’re onto a seriously good wicket. Credit cards are loans. They might be small loans, to buy groceries or a new top, but they are loans none the less. Cash is your money. There’s no interest, no repayments, and it’s harder to spend which means you save more.
”Keep It Simple”
We’re all after simplicity. Really, in the end, we all want a bit of peace and harmony in our lives, and certainly want it when it comes to finances. And simplicity might be the way to get there.
Don’t invest in things you don’t understand because someone tells you it’s a winner, don’t instigate complex saving schemes. Do what you know- save slowly and surely, pay down your debt and invest in your future. The simpler it is, the easier it should me to maintain.
”Priorities Lead To Prosperity”
Write down your goals. Work out what you are going to have to do to achieve them. Make them specific and achievable. Even if you only have one major goal, work out how you can make it happen.
Then ask yourself if you’re putting your money towards what is important. Having something to aim for will keep you on track better than any stringent savings promise. If motivation is what you’re lacking, then a goal will set you on the straight and narrow.
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