There are so many things to think about when it comes to your future. So much so that sometimes it’s best not to think that far ahead because who knows where you may end up. And even if you make a plan, it doesn’t mean that it’ll happen anyway.
Some people let themselves get so obsessed with trying to control an outcome, that they waste so much valuable time and energy. It’s important to realise that some things or people or situations cannot be controlled. So all you can do is accept that and move on.
So try and only focus on the things that you do have a say over. When it comes down to your future, one thing that you can make sure of, is how you go about managing your money.
Let’s face it, the fact of the matter is that the world revolves around money.
While it may not be a priority for you, it is for many other people. The more money you have, the more power you have, and the more influence you have over others. As well as having that financial freedom that allows you to do what you want and buy what you want whenever you want, which is most people’s dream.
This by no means-means that you have to let it be of importance in your own life. As they say, you can’t buy happiness. And while you can certainly buy a lot of things, sometimes the free things are the most special. Like a walk in the park, or watching the sunset with your favourite people.
One way to always keep your head above water and keep your options open depending on what you choose to do in life, is to save money for your future. There are many different ways that you can do this, some being easier than others depending on your own circumstances.
Here are a few ideas to get you on the right track.
1. Record your expenses
Before you start figuring out how to save your money, you need to know exactly how much you tend to spend, be it weekly or monthly. This means everything. Not just the bills you pay like your rent and your insurance. But your grocery shopping, your lunches at work, the coffee you have at break time, the new shoes for that party next month, and the gym membership that you barely use.
By doing this, you have a real idea of where your money is going. And recording it will make you see what things you’re wasting your money on. You may find that you can do without the gym membership and opt for working out at home for free instead, saving you a fair bit of money every month.
2. A savings account
A savings account can be used for so many different things. But essentially its job is to hold onto any money that you put in there safely and securely until you have a reason to use it. There are even specific variations like a Health Savings Account Guide that gives you all the information you need to know about a HSA.
This is an account that is solely there for if and when you ever have an emergency and need to pay for the treatment. Be it due to an accident or a sudden illness. It’s always good to be prepared for the worst. So that you’re never put in a position that risks you drowning in medical bills and even ending up in debt as a result.
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3. Have a goal
Sometimes it’s very hard for people to save up – even if they really want to. There are so many distractions and temptations out there that make it really difficult not to give in and buy those items that have caught your eye. So one way to keep that will power going strong, is to set a goal in sight so that you feel as though you’re working towards something.
Then when you achieve that goal, it will not only make you feel really good, but it will have been a whole lot easier to save up too. Then just keep doing this every month or however long it takes you, until it just becomes part of your routine and you don’t even need to think twice about the decisions you make anymore, because now it’s just your normal way of living.
4. A new income
If you feel as though you don’t really have that much to save without putting yourself in a tricky position, then you may want to think about other ways that you can earn a second income to then put away somewhere safe. Remember that any bit of money is still money, and it all adds up to make a bigger number. So even if you just do something that gets you the odd few bucks a week – so be it.
You can look into getting a second job if you have the means and the time, but otherwise look into your options at home. You may find that you have various items that are useless to you now, but that are rather valuable and worth putting up for sale. Or maybe you take to online surveys in your free time, they only take a few minutes to complete, but they pay you for your time.
With these ideas, you can expand your mind and see all the different options that you have. What works for some people may not work for you, and vice versa,. So go into this as a trial and error process until you find things that make a difference for the better.
You can try and plan your future, but you never know what may happen along the way that eventually pushes you on a different course. What you can do though, is plan for your future, and starting financially is always a good idea. The sooner you start saving up, the more money you will have accumulated later down the line.
Definitely keeping track of my expenses and income helps me put everything into perspective when it comes to money.
Some great tips.. thanks for sharing
I tried this several years ago and had a terrible time with getting all of it to be straight. I eventually made some shorter, some longer and used that layout.