By: Cynthia Martínez de My Barely Famous Life
Sometimes you have the best intentions to grow and improve your personal finances. Unfortunately, you don’t know where to start. I’d like to give you 7 basic steps to start working on your savings. In my personal experience, these steps helped me design my start to good financial health.
You must remember that it is not just about following the steps, it is about having the daily discipline to be consistent in working towards your financial goals. It is important that you work and check in weekly to see how far you are from reaching them.
7 basic steps to start saving:
- 1. Control your expenses. There is always something you can cancel, look for a cheaper option or simplify your lifestyle.
- 2. Establish your priorities. NOT EVERYTHING IS AN EMERGENCY. What is urgent for others does not mean it has to be urgent for you.
- Don’t buy on credit. Plan your savings.
- 4. Make a household budget and share it with your family.
- 5. Pay yourself first. Treat savings as a household bill just as important as electricity or water.
- 6. Save on your outgoing expenses, online shopping or meals. You spend a lot of time at home during the pandemic and meal deliveries count as expenses.
- 7. Save on the way you use electricity in your home and evaluate eco-friendly savings options.
Money is a result of intentional actions and every time you go to buy something, you actually pay with the time it took you to earn it. Don’t forget that detail! Measure how you invest your money and you will have a life with value to the essentials, and not with priorities in material things. Savings give us access to a stable future and the resources to grow old with all our needs met.
About the Author:
Cynthia M. Martinez is a speaker, strategist, and entrepreneur with 12 years of experience in the direct selling industry. She has trained leaders, salespeople, and entrepreneurs to reach their full potential through strategic leadership and innovation for massive results. She is leading a positive revolution in social media by providing tools to help others achieve an extraordinary life with a blog called: My Barely Famous Life.
