Updated: Mar 5
There are many different methods to saving. This post is to share some of my favs:
50/30/20 rule - this is where you spend 50% of your income on your needs, 30% on your savings, and 20% on your wants
In a partnership, to spend one persons income on living costs and then the other persons income for investing and saving
If you're alone, to live off of your side hustle and save your 9-5 income
If your side hustle isn't generating enough to do number 3, then to live off of your 9-5 income and to invest and save your side hustle money
Pay yourself first - This one is my literal favourite. This method uses the idea that your savings and or investments are a 'fee'. This works so that your mind is like 'ok I have to pay $50 in to my 'bill' (savings) account. Its all in the mentality....
Decrease your expenses or increase your income
Stop going on date night until you can afford it - or, go on cheaper dates!!
Save spare coins - If you really do not have spare cash each week to put away, start small. This can be as small as saving coins in a container until they add up. Remember, every cent counts.
Stop buying lunch at work! This is one of the biggest money thieves!!!! Every day you spend $10-$20 which adds up to $50-$100 a week and then you say that you can't afford to save?
These are my ideas, comment yours below so that we can grow as one!