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! 🙂