Small Ways You Can Move in the Right Direction Daily, Weekly, and Monthly
Ways to Save Money Daily: Consistency is the Key
Deciding to build your wealth starts with simple, small and consistent baby steps. When you choose to begin living a healthier lifestyle, an easy first step in the right direction could be to go on a walk each morning to get your day started off right. When you set a goal to build your wealth, you are committing to making day-to-day choices that will support saving. When you wake up, brew your own coffee at home instead of going out, because it does add up overtime! Another small way you can save money daily is to meal prep. Consider how making your own meals will encourage you to eat healthier and your wallet will thank you for it. When you go out for meals make sure to ask about joining their loyalty programs so that future you can reap the rewards for discounted or free items. Remember, sometimes staying in is the best way to save money, and you will be able to avoid the temptation of overspending.
Focus on Finances Weekly: Wants vs. Needs
Shopping for groceries on a weekly basis? We’ve all been there at one time or another, wandering aimlessly through the aisles and leaving the store with way more than what was needed and a hefty total on the receipt. You’ll be surprised by how helpful it is to write down your grocery list before you go, so you are prepared to shop for only what you need and can keep this weekly expense manageable. Speaking of lists, another great way to set yourself up for success when it comes to building wealth is to set aside 10 minutes a week to review wants and needs. Ask yourself, what amount would you like to have in your savings at the end of the month? Slowly change your focus to saving. Find free hobbies and events that you will enjoy, such as nature walks and local art shows. Have you set up an emergency fund? Consider having an account set up for unexpected expenses, as things happen and it’s another way to motivate you to keep your spending low.
Monthly Spending: Time to Review
Now you’re at the end of the month. It’s time to review the small steps you made and how they effected your goal to build wealth. Look into your daily decisions, weekly focuses, and be honest about whether or not you are meeting your monthly goals to save. Just like when you set a fitness goal for yourself, you need a system to track your progress that you can review on a monthly basis to see if you are meeting your targets. Building wealth takes time, and reviewing your spending over the month through an online banking platform or a mobile app will help you keep track of it all and gives you an idea of what you may need to make improvements on or cut back. In what categories did you spend the most in? Find ways to cut down on what you can for next month. Take a look at your subscriptions, and cancel the items that you know that you are no longer using. What have you paid this month in fees and late charges? Set up automatic payments to ensure you never get a late charge again, this is a small way that you can contribute to the focus of your savings goals.
Moving in the Right Direction
Moving in the right direction to build your wealth doesn’t have to feel daunting or complicated, you can get there by taking baby steps. There are simple steps that you can take daily, weekly, and monthly to have a better outlook on your spending as well as increase your savings. Look for daily opportunities to set yourself up for success and improve your spending habits. Make a list of your wants and needs weekly, slowly but surely focus more on saving, and do your best to stick to your goals. Use an online banking or mobile app that will make it quick and easy to review your spending at the end of each month. As you continue to move forward building your wealth, consider what your goals are for savings, what you can set aside for an emergency fund, and where you may be overspending on fees or subscriptions that could have been avoided. Setting up automatic payments can ensure you never get a late charge again, and is a small way you can contribute to the focus of your savings goals.