Budgeting for your Goals: [Focus & Inspire]

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Favorite Quote! Never let anything deter you from achieving your dreams & ambitions.

If anyone is like me- budgeting might be the most difficult thing. There are always extraneous costs that come up like getting your car fixed, a leak, a speeding ticket, an injury, or just needing to give yourself some TLC and eat out once in a blue moon.

Things happen and budgets are hard to stick to for most people.

I have been wanting to save up to do some travel recently, and after Christmas, Valentines day, Birthdays, and more, I have realized it is not as easy as it looks. Paying off my credit card bill (although its low) is still a daunting task. Most 20-somethings who are working their way up their career often make barely enough money to save.

There are a few things I have come to realize while saving that I think are important to keep in mind if you have any long term saving goals. For me it’s a trip, but for some it could be a car, a house, a dog, you name it!

  1. Contentment
    1. Being content & grateful with what you already have is so important. Often, donating or giving away clothes and things I don’t need feels better than shopping and buying more of it. I love downsizing and minimizing.
  2. Quality not Quantity 
    1. Often with clothes, furniture, and other belongings, having quality items that you can multipurpose is more important than having tons of items that wear out quickly or only serve a small purpose that take up space. Save up and wait for things that really matter, don’t blow money on things that aren’t necessities.
  3. Keep your Goals in Mind 
    1. Thinking about your goals, always having your desired savings amount in mind when you buy things is important. Do you really need that Starbucks coffee or can you make a delicious brew at home? Do you need to go out for breakfast? Instead of the movies or the bars, try having a picnic at a park, reading in the sunshine, having a volleyball tournament or playing cards with friends over drinks.
  4. Organization & Updates 
    1. Keeping your finances organized and updated will really help. Sometimes when I know I am in the hole or made an expensive purchase I choose to avoid looking at my finances. By keeping track of where I am at financially, updating myself daily on where my spending is at and organizing my funds I find I spend less on small things that add up and save more money in the long run. It keeps me on task.
    2. One way I stay organized with with this app here. It’s called Mint. Mint is a great way to track your spending and visualize budgets & where you are at with them if you need to live tight.
  5. Think Differently 
    1. You need to start thinking and tracking your spending like it’s a lifestyle change. Think of this like a diet, but for your wallet. Your spending is your calories and your daily income is your workout. By tracking these things daily and understanding what you put in your mouth (or what you spend your $$ on) you begin to understand your habits and create the ability to form better habits to help you reach a long term goal.
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Hiking Mt. Evans- 12 hour ascent from the base of the Chicago Lakes.

All this said- I hope this helps you budget wisely and achieve your goals! Saving is inspiring and helpful, even if you have nothing to save for it is important to build up emergency funds and be frugal.

What are some Apps & habits you have that help you save? Let me know!

XO Mal

 

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