The sweet smell of summer ending, and the light breeze of fall is slowly creeping upon us. I love fall because it always gives me a sense of new beginnings. No matter how much money I may have accidentally spent in the summer time. ( I know I’m not the only one trying to play catch up on my goals, or am I?)
Even though I’m not headed back to school, it still makes me feel like I’m beginning a fresh start. With a fresh start comes a 3rd quarter money check up. Usually people set financial goals in January, but why not get a head start?
#1 Credit cards:
Before you start swiping for new clothes and shoes do you really need them? Be sure that you’re checking your balance statements each month and eliminating as much debt as possible. Waiting 30 days to buy certain items to see if it’s really a need or a want may be helpful. If after the 30, you still feel like you want that item, go get it sweetheart! Also if you haven’t checked your credit report yet this year it’s free at freecreditscore.com.
#2 The dreaded b word
I know, I know I hate to have to check my budget too or as I like to say my wealth building plan. The word budget just sounds so restricting. I like to think of it was my wealth building plan because if I follow it it will lead me to wealth. I have to check my plan every time I get paid because my money goals are constantly changing. Check your priorities and be sure you’re putting away money in your emergency fund, retirement, and investments, while still taking care of your living essentials.
# 3 Cutting back
Is there anywhere that you can cut back on spending? Maybe instead of hitting the nail salon each week you can buy a nail polish and do it yourself and put the money you would of spent at the salon into your savings. Are you eating out too much? Can you bring your lunch to work and eat out once a week instead of 4-5 times a week?
Unless you feel these items are really adding value to the lifestyle that you’re living find ways to cut back and put money into the life that you really want to live. Figuring out what truly makes you happy early on will save you a ton of money. Remember you must switch your mindset so your money goals become more important than your instant gratifications.
# 4 Money Saving Tips
Remember your money should always have a specific purpose. Don’t have a savings account just for a savings accounts sake. What is this savings account for? Can you name this savings account so you can see exactly how much you’ve saved towards this specific goal. I believe that when you have a specific saving account with a specific name you are much more likely to save. I have multiple savings accounts with specific goals I love it because it motivated me even more and I can see how close or far away I am from reaching my money goals.
#5 Turn savings into a game
Is there a way you can turn savings or paying off debt into a game? Games make things fun. When I did my 11 week debt challenge 10 of us ended up paying off $39,500 worth of debt in just 11 weeks. It was a run way to pay off debt and get friends involved.
Remember it’s about 20% head knowledge and 80% behavior.
You may be reading this thinking “Candice this is all basic knowledge”, and it is, but have you been applying it to your life or nah? That’s the real question. I
It’s all about implementation! Be sure to keep thinking long-term mentality, not right now mentality.
Also if you haven’t checked out my post College tips for graduating seniors written by the lovely Lay Lay Summers check it out It’s filled with lot’s of useful information.
If you’re struggling with paying off your debt, be sure to pick up a copy of The Debt Slaying Challenge: Eliminating Debt Fast book here. ( You can also sign up for your free chapter below.)
As always Be wise, stay humble, and build my friends.