One of the ways to creating the life you want is through having financial freedom. Or just having a little room to breath financially.
Although I have always been pretty smart with my money and a good money manager, there have been times when I’ve been strapped for money and had to tell bill collectors to get in line with everyone else to get their money.
Hey, things happen to the best of us sometimes. Often, with no warning at all.
But here is how I saved thirty thousand dollars in one year.
First, I changed my money story.
That consisted of doing a few things.
I stopped using negative language when it came to money.
By saying thing like, “I’m so broke” or “I never have any money”.
Even when someone asked me for a loan, my response was never “I don’t have any money”. It was usually, “I don’t have any money to give you”.
In other words, I stopped speaking about my money from a poverty perspective and started speaking of it from a place of abundance.
And like a magnet, money started flowing to me.
Next, I put myself on a budget… a real budget. Which meant some real changes.
By following the spending plan I originally came across from Oprah’s Debt Diet (Housing 35%, Savings 10%, Transportation 15%, Debt 15%, Other Living Expenses 25%), I was able to save thirty thousand dollars in one year.
A common mistake I see many people make is trying to budget within their current situation.
That’s not a real budget if the percentages listed above are out of alignment. If any of my expenses went over these numbers, something got cut.
To do this, I opened several different bank accounts and separated my money according to what it was to be used for.
For example, I had an account just to pay my rent and household expenses, another account for gas and maintenance on my car, another account only for savings and an additional account for everything else.
I lived in an apartment, instead of a house. I drove my paid off car a little longer. And shopping splurges… well… NO! It didn’t happen.
I picked up a side gig and did some consulting work for extra money.
Every extra dollar I made went into my savings account.
That’s how I was able to save thirty thousand dollars in one year.
And while your situation may be different from mine, there is no doubt in my mind that you too can have abundance in your life and create the life you want.