Self-Care Series: Money Magic (Saving Tips)

Originally published: March 6, 2020

Manifesting prosperity and abundance in your life requires two things: a bountiful mindset and a solid financial plan.  The very first step to attracting money is to believe that you already have all that you need.  Like the Law of Attraction states, like attracts like.  Attitude makes a big difference in bringing your desires to fruition, and when it comes to money, your attitude towards it impacts the way you are able to save and spend what you do have.

Back in university, after working two jobs and juggling schoolwork, I almost had a breakdown.  As any student may tell you, without a doubt, it is a very stressful time in life.  After being constantly worried about grades and finals, I decided that retail therapy was a solution.  Little did I know, it would become a negative coping method and the reason my savings evaporated into thin air.  With no financial advisor, the only advice I depended on was the little devil and angel on my shoulders. 

Side note:  They almost always agreed that the purchases at hand would indeed release the tension I was feeling. 

I accrued a lot of stuff within those years, but what I finally gained was the realization that I no longer had a comfy cushion (or bed of bills) to rely on, especially in times of emergency, like a broken windshield.

Once I hit zero, it was as if I restarted the game.  I took it into my own hands to learn everything about saving money and as well as ways to cope with stress.  That was quite a while ago, and since then I have been working hard for my money and I have become more mindful about what I purchase because after all, that is my time I am spending.  All of this has also impacted the way I see material items and it has helped me to become more minimal (-ish) when it comes to collecting items. 

Yes, I will admit that once in a while I make purchases based on emotion and I do think it is perfectly fine to treat yourself, but I take much more comfort in knowing that the responsible thing for my future is to be well-planned and organized when it comes to finances. 

Down below are money-saving tips that I wrote in my notebook in 2017.  They are ideas that still keep me on track, and at the same time, allow me to feel confident and in control.  I do not believe that money is the MOST important thing to value; however, it is necessary in today’s society to be financially literate.  These are simply tips I came up with after looking around and brainstorming what I needed to do with my personal situation.  By no means are they professional financial advice, but rather a place to begin the process of changing your relationship with money.  Perhaps you may need to actually hire a professional advisor- and I totally recommend doing that (if you can)!  No matter your money situation, you can begin to attract abundance today.

1. Set a savings goal.

• Make a SMART goal

• Create a budget

• Weekly, bi-weekly or monthly pay yourself

• Set a deadline

• Contribute routinely – use automatic withdrawals

• Account for bills/debt and other expenses

2. Have more than one savings account.

• One for a specific goal (trip, course, education, home…)

• One for emergency

• One as a personal savings/ holding place

• Think about a TFSA

3. Cut down on expenses.

• Find a better phone plan/shop around

• Use up items before making a new purchase

• Make a list before grocery shopping and check the fridge/pantry first

• Pack your own meals/lunches for work

• Limit/eliminate eating out

• Find free hobbies

• At home work outs

• Drive less

• Practice minimalism/ live with less

• Do not purchase backup items

• Be creative with wardrobe

• Avoid complicated routines

• Cook simple meals

• Use what is available

• Simplify everything

• Less is more

4. Ask questions before buying.

• Why am I making this purchase?

• Is this a need or a want?

• Can this purchase wait?

• Did I budget for this?

• Do I already own one?

• Is this something I can borrow for a one-time use?

• Will this purchase put me in debt/ further in debt?

• Can I make this myself? Or can I learn?

• Can I find it elsewhere for less?

• Are there any discounts?

5. Look for deals/discounts/savings.

• Check flyers/ store websites for deals

• Buy bulk if it’s practical

• Wait for sales for large purchases

• Check online for items or coupons/codes

• Shop around before impulse buying

• Know your prices

6. Try a no-spend week/ a no-buy month.

• Besides bills/outstanding debt, food and gas, eliminate spending for a period of time

• Track purchases – see where you can cut expenses at the end of the month

• Use this time to de-clutter/ use up items

• Challenge yourself to be creative and use up items that you already own

• Make old items new again

• Find ways to have fun for free

• Put all extra money into savings at the end of the time period

• Learn to practice saying NO

Wishing you a prosperous money journey!

Baci e abbracci:)

Basha