In order to save money, build a deep pantry, get debt-free or just build a savings you have to have the right mindset.
Mindset is EVERYTHING If you don’t have the right mindset you will fail. If you feel like you are depriving yourself all the time you will fail. If you feel resentful of others who have more money or who may not have the money but spend like they do you will fail. If you don’t have your why figured out you will fail.
I know it is hard to have a good attitude about having to live on a tight budget when you see everyone around you spending and buying all the newest and latest shiny things, things that you would also like to have, going on elaborate vacations, having the newest vehicle. Believe me, I understand been there done that. In fact I still every now and again wish I could buy the latest greatest. But I do a good talking to myself and talk myself off the ledge haha. And If I really think I need it I give it a couple of days to think on it. By then I either realize I don’t really need it, I find a way to make it myself, find a cheaper alternative, or put it on my Christmas/Birthday list. But I am not going to lie every once in a while I cave. But if I do cave and buy it I make sure I can pay cash ( no credit) and it isn’t going to mess up my budget.
So how do you have a good attitude and the right mindset especially when your friends are spending like they have tons of money giving no thought to tomorrow, next week, or next year?
Well like I said it is mindset. Here are a few things that I did to get in the right frame of mind so I didn’t feel like I was totally depriving myself all the time.
I started to make a game of it. I challenged myself to see how little I could spend and still get everything we needed. You can get pretty creative and it is fun to try and figure out how to do some things. Hence the 200 a month challenge.
I learned how to make a lot of my own stuff. I figured if I could get it in the store that someone somewhere had to make it so why couldn’t I just make it myself. I took it a step further though I was making everything even sunscreen. Do you know how much fun it is to be able to share with family and friends that you made such and such since so many have no idea how many things you can make yourself? I loved the shock factor haha. Although now when I tell my family that I made that, they are like “of course you did”.
The biggest thing though is how good you are going to feel when you are debt free, when you can buy what you want/need without worry when you know you have a cushion in the bank for an emergency large or small.
You have to look at it positively and keep in mind your why. And know in the long run you are going to be so much better off than the ones who are throwing money away on all the latest greatest things without a thought to what tomorrow may bring. We are headed into some very interesting times and you have to be ready for them. Making the sacrifices now will help for a better tomorrow.
When you get ready to make a purchase such as a Starbucks, maybe a quick drive-thru meal just think what you are spending it may only be a few dollars but if you spend 3 dollars 4 times a week that is 12 dollars a week 48 a month money that could be used to pay a utility bill or put towards Christmas. By buying something like that it just puts you further from your goals.
Well said Connie:
Guess I can stop working on my “Money” Article HAHAHAH
BTW, a Starbucks “Special” Coffee is running 10-12 bucks (or more) nowadays.
Ok, here is my 2 cents worth.
Make a Budget, and stick to it.
I’m no Financial Wizard by any means, but this is not rocket science;
Anyone should know how much $$$$ they got coming in, and basically what their bills are, Right?
I use a simple Monthly Calendar and just mark up the Date the bill is due and when the money comes in.
Example:
Electrical 30th – $100
Water 25th – $80
House Payment/Rent 5th – $950 OUCH
Insurance 20th – $100 average
So-on and So-forth mighty darn simple huh?
So you know what costs are, and basically when due
Now I add those costs to my Budget and add things like;
$200 each month for the Property Tax due in November
$500 each month for Savings This one gets hit HARD all the time.
$100 each month for that ½ Beef I’ll be getting this fall
$50 for the Dentist I see twice a year for cleaning
How about Fuel? $100 a month
Propane, $30 a month
Yepppppp, there is $2210 so far, AND guess what, there is NO food or Starbuckes in there… OUCH!!!!!!
BUT Guess what, Connie is right, it’s ALL about Mindset.
Do you really think anyone can make it without knowing there limits?
That Starbucks ‘Super Duty Ultra Rich Creamy Goo’ at $15 sure is good, you bet it is, and at $15 it sure as heck better be. I’ll bet you a box of Donuts I can find that “exact” recipe on the Net and make the same thing for less than $3, want a bet?
AND I can sit here on my porch enjoying the Sunrise, really enjoy the peace and quiet, AND eat those Donuts I just won from you HAHAHAHA
So back to Money.
If you’re in Debt, with Credit Cards, you’re paying what 15-20% interest on those puppies? You think Banks don’t LOVE for you to be in debt? Bite the Bullet, as to say, and pay them off, cut them up if you have to, or just put them in the Safe and do NOT carry them with you. CC’s are GREAT if you have control, I use them all the time, but guess what, they ARE PAID EACH MONTH, plus I get 5% back on Fuel Purchases. BUT, you have GOT to have control (Mindset).
How about that House Loan, you paying over 4% right now? Look into getting it refinanced. Talk to a Loan Officer, Talk is Cheap. DO NOT GO INTO A VARIABLE PERCENT LOAN !!!!!
So what else can you do to save Money?
STOP eating out, sure on special occasions no problem. But plan on spending a LOT of money for that, BUT you sure had better spend a LOT of money on the Wife’s Birthday.
Look into buying everything you need in Bulk, or on-sale. Build that Deep Pantry so you don’t need to spend cash when the prices go crazy like a Pandemic Scare and 99% of the Country is going ‘Ape (Poop) Crazy’ buying TP at twice the normal cost.
Get your Mindset fixed. I agree with Connie here.
If/When you go to buy something you “think” you want, take a few days and figure if you “Want it” or if you really “Need It”, there is a LOT of difference for sure.
I know it’s not easy, God knows I know that.
But let me tell you, not being in Debt (besides House Loan) is the most wonderful feeling you’ll know, knowing that your Family is safe as far as food and “stuff” If something actually does happen (and I Pray it don’t).
Having a Deep Pantry and supplies on hand in a catastrophe is so important.
Please, Please get Connie’s Mindset going and make it happen.
Thank You.
NRP and Blue, that’s done with his Nap now gata go HAHAHAHA