So many of us think that saving money is about amassing cash. And while this is the most important aspect, it’s vital to remember that money saving techniques and tactics are as much to do with mindset as they are about putting coins in the piggy bank. But why is mindset just as important, and how can you stay in the money-saving mindset?
Remembering Why Saving Is Important
You can start selling mobile phones that you found buried in your junk room and start to siphon off pieces of your life bit by bit in order to make a little bit of extra cash, but if you don’t operate with an overarching goal it won’t necessarily mean that you will dig yourself out of a financial hole. We have to remember that we’ve got an overarching reason and this purpose doesn’t just comprise of a very basic point, such as maintaining a certain lifestyle. If you are saving for a holiday, this is going to imbue the whole act of saving with emotional weight, not just a financial one. Remember money-saving is about mindset.
Learning To Live Within Your Means Is Crucial
When we have credit card bills every single month and we are just about managing to pay it off this is not the definition of living within our means. Learning the art of saving money is as much about understanding your expenditure versus your income. And this is why we have to take a long hard look at our finances and figure out the best ways to live within our means. Because if we don’t live within our means, we will never chip away at the debt and will forever be going around in the same circles.
Go In With A Plan
When people start to save money, their outcome can be very vague. If you go in with a plan and say that you want to save X amount or you’ve got a goal in mind, this gives you a more tangible figure. It’s so important to go in with a very specific plan and how you plan on hitting this goal. Once you start to flesh out your plan and turn it into a method that is attainable, this helps you to address any specific money problems in your life, but also if you ever fall off the wagon you can go back on track.
We Need To Avoid Social Pressures
Arguably the best thing to come out of the current situation is that we don’t feel the almighty pressures of keeping up with the Joneses. We have to live within our means and this requires us to focus on everything that goes on at home. Only getting the bare basics means that we will not overspend. And when we have to look at our finances and start to craft a proper plan while also avoiding the pressures of other people buying expensive items, it can make us realise just how much we tend to overspend in a social sense.
Learning to live within your means is crucial but also realising that if you have more money it doesn’t mean you will be happier. If you need to save money because you want to live more comfortably, that’s one thing. But if you are are trying to save money or earn more money for a very non-specific purpose, are you doing this for a worthwhile reason?
Thanks for stopping by today and reading about why money-saving is about mindset as well as the cash.
*This is a collaborative post