I have known about this trick for years, but always found an excuse not to do it by being stuck in bad habits. The trick is to pay first, before anything else, into a savings account. If you’re like me and don’t have any savings, like I had until this month, you go to your bank, create one and then put as much or as little as you can afford, even just a symbolic amount into that account next time you get paid.
Choose an amount you can handle, like 10 cents, a dollar, 10 dollars, etc. This is a sacred amount that you transfer each month to your new savings account. The idea is to train your brain to turn this into a routine. Eventually and faster than you realize, that amount will rise as you become more financially aware and begin taking more responsibility for your overall well being.
Figure out how much you are actually spending each month and try to shop only with cash.
For an entire month, you collect ALL receipts and write down what you bought and how much it costed. When the month is over, you will have a very clear idea about where you are spending too much. Doing this might also inspire you to start taking action right now and look for better prices while shopping your usual things.
I have never had a credit card because it’s a tool for financial disaster. Taking loans for the cost of living is a very bad idea so I use a debit card instead and often withdraw cash and then use that. The thing about using physical currencies, is that you get a pretty clear idea about where you’re headed financially. Research also shows that we are more inclined to be careful about our money when we can see it.
Get help with expensive habits.
After I quit drinking for the most part and gave up cannabis for good, my spending money doubled. The same goes for giving up junk food for the sake of healthy eating. What ever your expensive habits are, get help and remove them. Cigarettes for one cost a lot. This will turn your life around towards more money, health, happiness and personal strength which helps keeping your inner victim away.
Believe me, just three months ago, I was sticking my hands into garbage cans, looking for cans and bottles to exchange for food money around the 20th of each month. Now I seem to have enough cash all the time. Stop whining and get some help, it kills your ego and turns you into a bad-ass in the long run. Creating new habits takes time, so hang in there, it gets better.
It’s never too late turning your life around, get started today.
Thank you for reading and get that money thing under control,