Grow Your Money Girl

There are many secrets to making and keeping money.  Some of them may seem straightforward, while others may seem unorthodox.  However, these strategies have really helped me when trying to save (and manifest) money.

I have found that I’m no longer struggling to save (and manifest) money.  At the end of the month, I still have plenty of money in my savings account.  I’m no longer living paycheck to paycheck.  I’m really seeing an increase in my wealth, although my salary has not changed much.

So, what am I doing right?

  1. Keep a crisp $50 or $100 dollar bill in your purse and never spend it.  Sounds crazy right?  Yeah, I know.  But, it works!  This isn’t the same thing as your MAD money or emergency cash.  This bill is more symbolic.  Keeping a $50 or $100 dollar bill in your wallet and not spending it is a way of you saying to yourself, “I got this.  I know that more money is going to come in, so I don’t need to spend this.”  And it works.  I haven’t found any instances when I needed to spend the $50 in my wallet.  Whereas, before I did this, I was always spending my last “dollar,” now, I seem to always have money to spend and I don’t have to touch this money.  Sometimes I even forget that it’s there.  If $50 or $100 is too much for you right now, try it with a $20 and see how it works for you.
  2. Never say, “I’m broke.”  This is actually a tip I learned from my ex.  He always believed that saying you were broke would essentially mean that you were broke, and he was so right.  There have been numerous studies done on mindset and what we believe (or tell ourselves) is usually the case.  So, if we tell ourselves that “we’re broke,” then we will be.  However, if we tell ourselves that we have plenty of money, then, somehow, we have plenty of money.  I can’t explain why this works, besides the fact that the brain is an amazing machine.  He used to say, “my funds are low,” however, I wouldn’t encourage saying that either.  When it comes to your money, everything you say should be positive.  Positivity encourages money to flow into your life.
  3. Set realistic savings goals.  If you know you only get paid $2000 a month and your monthly expenses total $1600, saying that you’re going to save $500 a month is impossible and unrealistic.  Instead, begin by setting realistic savings goals.  I always encourage people to save small at first and then build up.  So, how much should you save?  It will differ from person to person, but, a good way to determine how much you need to save is by asking yourself, “Can I put this amount of money in my savings account without having to “dip” into it later in order to survive until my next payday?”  If the answer is yes, then you’ve got a realistic savings goal.  If the answer is no, then you might want to rethink your goal amount.  Starting with smaller increments, such as $20 or $50 will allow you to practice saving and will encourage you to build up over time.
  4. Don’t spend your savings.  Don’t treat your savings account like a bank that you can dip in and out of at will.  For example, if you get paid and put $100 in your savings, leave it there.  Don’t take it back out when you “need” it.  Doing that will mean that you are perpetually saving the same hundred bucks over and over and over again, which is counterproductive.  Having money in your savings account, even if it’s just a little, will invariably allow more money to flow into your life and will make you feel wealthier because you’re not at zero or living paycheck to paycheck every month.
  5. Write down your daily income.  Yes, I said daily income.  Income isn’t just your paycheck.  Income is money coming in, from any source.  Most people have money coming in and they don’t even realize it.  That $20 that your friend borrowed last week and paid back.  That $2 in advertising revenue from blogging.  That dollar you found on the sidewalk last week, or the $5 you forgot was in your jeans on laundry day.  That all adds up and can be considered “income.”  Writing down each amount you receive, down to the penny, shows that you are aware of the fact that money is constantly coming into your life and will allow more money to flow in because you are keenly aware of it.  You can keep a spreadsheet, a notebook, or just keep track on your phone.
  6. Avoid mindless spending.  One of the worst things we do to ruin our wealth is by spending it on things we don’t need and probably don’t even want.  This is called impulse buying and everyone is guilty of it at some point.  The best way to avoid impulse buying is to keep a list of the things we need and to stick to the list when we go to the store.  Avoid buying things just because they are on sale or because we want them.  If it’s not on the list, don’t buy it.
  7. Find the sale.  While you’re making your list, look for the best deals.  There are plenty of websites and apps that allow you to compare prices and find the best deals on the things you need.  You can even preview circulars on your smartphone prior to going to the store.  Spending that extra time to map out a plan on how to buy what you need for less could save you more money later on.  However, on this same note, please don’t become one of those people that does extreme couponing and buys 24 bags of cat food for $1 but doesn’t even have a cat.  Unless you can turn it into a profit by selling the excess at regular price, there is no point in buying fifty bottles of mustard because you had a coupon.  That’s just a waste of time and money.

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