Saving money is not a small task. It has always seemed like a challenge considering the rate at which money appears and quickly disappears in one's hands. The start of last year was a turning point for me. I made a decision to be more intentional with my finances. I resolved to gain financial independence at all costs. And the first step was learning how to save. The goal was simple: create small daily habits that would later become part of my lifestyle. Over time, these habits have been embedded in my routine and everyday habit thus successfully securing a sure financial future for myself.
The first thing I did was to open a savings account. I created an account specifically for my savings and set in such a way that a specific amount would be deducted from my income weekly. This automatic system helped me save consciously and unconsciously. When I remembered and even in days I forgot. As far as the day scheduled to deposit a fixed amount of money for savings reached, it would automatically deducted it from my bank account. And the food thing about this setup was , I couldn't easily access my savings or withdraw from it. It was like a fixed deposit account. It had a specific time frame attached to it. and this system helped me improve tremendously.
Secondly, I started by using a budgeting app to track my spendings. This helped me know when I spent unnecessary. I also created a monthly budget plan and drafted out my income for a month, sharing it into sections. Essential items like food, allowance, data, transport were given a certain amount for the month. Then a fixed amount was allocated which would be saved. This helped me stay more organized, and manage my income more adequately.
Another strategy I enforced was the “save before you spend" rule as I like to call it. It's a rule I set for myself, that whenever I received any income or salary, I would save a specific amount, even if it's small, before spending the rest. I tackle my savings as a necessary bill, I have to settle first before doing anything else with money. This
helped me develop financial discipline and a sense of responsibility for my future.
Also, another major character I had to drop off to save efficiently was the act of impulse buying. Before I used to be the type of individual that would buy everything I liked on impulse, even when I didn't budget for it. But as I started my saving journey, I had to let go of such habits. Now I pause and ask myself, Do I really need this? Will this be useful to me in the long run?
This year, I have a goal, I want financial freedom and peace and there is no better way to start than through savings. I’ve had my fair share of urgent 2k and trust me is not a nice circumstance to be in. Being financially stuck, running out of funds, not having enough money for something or emergency expenses that one cannot afford. Not having money or lack of savings can be really embarrassing. So this year. I’m learning consistency, to think for the long term and be more financially wise. No more waste, no more spending. So if you're asking me how I save my money, I would say, slowly, intentionally and with purpose.