You’ve probably heard of the famous Dave Ramsey “Debt Snowball”, let’s use the same concept to grow our savings. Let’s start paying ourselves back for all of the hours and hard work that we have to endure.
We have the ability to own land, start a business empire, and become CEO of Fortune 500 companies. But, perhaps the most simple of all our abilities, yet the most powerful, is that we have the freedom to control our own money and how we spend it.
Let’s stop taking this power for granted and start using it to move mountains.
Mountains of debt off of our shoulders, mountains of money growing in our savings accounts, and mountains of peace of mind and happiness in our lives.
If you’ve visited here before, you know I’m all about taking small frugal steps to a more fulfilling life.
It’s not about the size of the step, but more about moving forward in a positive way that makes the difference. So, don’t think that changing one small thing won’t make a difference, it will! A drop of water over time can amount to a tidal wave!
As women, we need to do better in managing and taking control of our personal finances because it can make all the difference in the quality of our lives as individuals.
Here are just some ideas to get you started
Save $5 a day, have one more day of cooking at home, do a DIY spa day instead of a spa visit, a-do-anything-and-everything-to-save-a-buck day. Here are some more ideas.
Any habit we choose to change will make a difference in our bank accounts quickly. So, let’s chase that financial dream that we all strive for. We have the limitless power to make it a reality. Yes, you heard me right, I said limitless!
Let’s take that power and channel it this month in making our savings grow.
As a child, I grew up with a mom who used frugality as a major tool to help her save and make ends meet. Now, I use frugality to enhance my life and increase my savings too.
Here’s what I plan on doing this month and I’d love for you to join me.
Here’s My Challenge Idea
Let’s cut our impulse spending by half.
Many of us tend to shop for fun, I used to do this all the time. When I shopped, I’d usually buy things on sale and I’d use that as a way to justify my spending. “I got a great deal on this purse so I had to get it”. Am I the only one?
So, I challenge you to stop buying things just because they are on sale, and especially if it was an impulse buy. Instead, let’s buy only things that we’ve planned (and budgeted) for and truly need. Your rapidly growing savings will thank you.
When I cut the impulse purchases, I saved so much money and my closet got a lot more organized and spacious.
My personal challenge is to cut the spending by even more this time around.
Imagine what’ll happen when we cut our spending in half for one month? Two months? A year?
This one small change will make a difference in a big way. In my case, when I cut my spending in half, I saved about $100 per month. So in a year, I saved about $1,200. What could you do with an extra thousand or more? It’s like having an extra paycheck that’s tax free!
Let’s improve together
Today, let’s challenge our current habits and work toward doing more with our money.