Last year, as y’all know, I saved nearly $20,000. Ya, that’s a lot of dough in one year. At times, I fell off the wagon (hard)- usually due to poor planning, overspending (shoes!!) or my side hustle business had slowed. Knowing that, if you’re working on a big save this year, (or a big debt payoff, go you!!) know there will be peaks and valleys- but you just have to keep pressin’ through!
One tip that I mention in the video is to set up a savings account with regular, automatic payments. If I had one tip for you to achieve a big save for the new year, that would be it. Set up a bank account and pay yourself first! No, don’t put money away after bills, shopping and a few trips to the bar… FIRST.
With each paycheck, a percentage should go towards your goal, and it should be calculated in proportion to the estimated time you want to hit your goal.. Meaning, if you’re going to save $1,000 in x months, you need $250 a paycheck, EVERY paycheck to hit it. CapitalOne 360 had a great tool to help me figure out how much to put away each month & made it easy!
In my first video of 2015 (which I hope to have many more, on a bi-weekly basis so please let me know what I should cover next!) I cover my tips for success in how I saved nearly $20,000 in one year. If your goal is $5k, $10k, or $20k+ you can do it too!
Enjoy and let me know what video I should record next! 🙂
You are such a financial inspiration! You are on your way to being crazy rich, beautiful, and living it up in one of the best cities in the US. #NotJealous
also one of the coldest cities in the U.S.! haha!
I really like this suggestion. While it sounds simple, how many of us who read this will get off our butt and set it up with the bank? If saving was a regular deduction each month like my online bills, I would soon get used to budgeting the rest accordingly. Great advice! I am going to do this.
I hope many people do Jen! Thanks for commenting! 🙂
I’d love to see a video on sourcing, pitching, and landing freelance writing jobs. Thanks!
Great suggestion Rosie!
Great video! And I definitely second using automatic transfers for savings! My Emergency Fund and Travel Fund are in two different online banks and twice a month when I get paid, money comes out of my checking account into both my savings accounts. I wish I knew that trick a few years ago when I first graduated college. I would have so much more money saved! Congrats once again on the $20k. That is a huge amount and you should be proud!
That’s a great system you have down for saving! Better late than never, right?
Great video for inspiration to start saving! I would also like a video with more information on finding and landing freelance jobs. Thanks for sharing!
Thanks! Freelancing seems to be a popular request!
Your strategies are amazing and your attitude is just so admirable. Thank you!
You should really be proud of yourself! So happy for you!