5 Money Habits You Need to Have

For us to change and improve our finances, we need to develop some habits. These habits will help us stay on track and live a more comfortable life. It took me a while to get all of them and make them part of my daily life. Once I was able to get these habits to stick, my life changed.

1.Have a Budget

You need to know where your money is going! This is the only way you’ll be able to get control of your finances. It will help you to pay off debt and to grow your savings.

2.Make Goals

You need something to work towards. It will keep you motivated to keep hustling, and it will give a reason to manage your money wisely.

3.Have Side Hustles

Make sure to have different sources of income. Regardless of the amount, having this habit will always benefit you. Side hustles can turn into businesses.

4.Live Below your Means

This is so crucial. You don’t have to live miserably. You just have to make sure you don’t buy things you can’t afford nor have a lifestyle you can’t afford.

These are the tips I have for you, today! Thank you so much for reading it, and I’ll see you in my next post.

How to Increase Your Savings

I’m very passionate about saving for the things I want instead of getting myself into debt. On this post, I’ll be sharing some tips to increase your savings!

1.Budget

Make sure to budget your money every time you get a pay-check. Include your savings in your budget and slowly start increasing its monthly amount.

2.Have Side Hustles

Having extra money will always help you increase your savings, regardless of the amount. Remember that even small quantities add are good, they’ll add up.

3.Control your Expenses

Make sure to buy only what’s necessary and stay within your budget.

4.Challenge Yourself

Challenge yourself to save more money. Have no spend challenges each month. It doesn’t need to be perfect, but it’s a good way to encourage you and to stop you from buying things you don’t necessarily need.

Don’t forget to have fun! Life isn’t just paying bills and save money. Do things that bring you happiness, just plan them in a way that it won’t hurt your finances.

I hope these tips were helpful. Thank you so much for reading it, and I’ll see you in my next post.

How to keep Track of your Finances

Being in control of our money is something we all aim to do. The only way to do it is to be organised with your finances. On this post, I’ll be sharing with you what I do to keep track of my finances. I use a Personal Finance Binder to keep track of everything. These are the spreads:

1.Budget

The first thing I like to do is to write down my budget. I know exactly how much I need to spend on my needs (rent, groceries, bills, etc), making it easier to manage the rest of the money. Since I started writing down my budge, I realised that I could make higher payments towards debt, which was amazing!

2.Bills

I like to track my bills and add the payment receipts in a plastic folder at the end of this spread.

3.Expenses

I track all of my expenses! I split them into categories, and I always make sure to analyse them at the end of the month. It helped me a lot because I was able to see where I was spending my money, and I used to buy so many unnecessary things, and this made me break that habit.

4.Debt Tracker

I like to write down all of my debts and how much is left to pay, the payments I make with the dates and everything.

5.Savings Tracker

I usually write down my savings goal for each category, and keep track of the amounts I add until I’ll reach the wanted amount.

6.Important Documents

This spread is the last one of the binder. I keep every single document related to this topic in plastic folders. From the water, electricity, gas and rent contracts to my tax payment receipts. I keep them all in there, so I know where they are if I ever need them.

I have a Personal Finance Binder to download for sale that is just like mine. I’ll leave the link below if you’re interested!

Personal Finance Binder (Black and White Theme)

Personal Finance Binder (Green Theme)

Personal Finance Binder (Pink Theme)

Thank you so much for reading it, and I’ll see you in my next post.

15 Ways to Save Money

On this post I’ll be sharing with you 15 things you can start doing that will help you save money.

1.Make a Shopping List

Make sure to only grocery shop with a list, it will help you not to buy what you don’t need.

2.Eat Before Grocery Shopping

If you go grocery shopping with an empty stomach, you’ll most likely buy a lot of snacks and things you don’t need.

3.Make your own Meals

Cooking your own meals will help you save a lot of money, and you can make healthier meals which are also amazing for your body.

4.Make Your Own Bread

Bread is something that most of us eat several times a day. Making it yourself will help you save a lot of money. You can make several at a time and freeze the dough.

5.Buy Clothes on Sale

Only buy clothes on sale, you’ll be able to get more for less.

6.Buy in Bulk and Freeze

Buy fruit and veggies and freeze them. This is great for smoothies and soup!

7.Buy Detergents on Sale

When the detergents are on sale, you can get several and have a little stash at home.

8.Have a Budget

Make sure to write down your budget. Being aware of how much you can spend on every category will help you increase your savings. 

9.Be Organised

This tip goes along with the previous one. Being organised with your finances will help you increase your savings and your ability to saving money. There’s a downloadable planner that includes a budget spread, a shopping list, an expense tracker, a bill tracker, a debt tracker, and a meal planner. I’ll leave the link to it down below if you’re interested.

Money Planner (A4)

Money Planner (A5)

10.Turn Off the Light

Turn off the lights when you’re not in the room.

11.Meal Plan

Meal planning will help you buy only what you need, and it will also help you to control the costs of each meal.

12.Take your lunch with you

Prepare your snacks and lunch at home and take them with you to work. 

13.Sell your clothes

Sell the clothes you no longer wear and put that money towards savings or debt payments, for example.

14.Make your own Cleaning Supplies

Make your own cleaning products at home, this will help you save money and the environment.

15.Workout at Home

Working out at home instead of going to the gym will help you save thousands!

So, these are all the tips I have for you. Thank you so much for reading it, and I’ll see you in my next post.

How to Stop Living Beyond your Means

It’s quite tempting to live with things we can’t afford. We see it all the time in social media, people sell a lifestyle, and we want it. We want the same cars, houses, holidays, etc. Most of us can’t afford it (and it’s normal) so, they get loans and spend the rest of their lives living above their means. On this post, I’ll be sharing with you what you can do to start living below your means and save for what you want without getting into debt.

1.Budget

Setting up a budget is crucial. Set up one that works for you and for your family.

2. Stop getting loans

Start focusing on getting several savings accounts instead of getting loans. This will have a huge impact on your personal finances.

3. Prioritise

Change your priorities. Saving money will get you the things you want without loans, so move to a smaller house, sell your car, cook your own meals, etc. Start changing your lifestyle in order to maximize your savings.

4. Make Changes

After all these steps, acknowledge what you did wrong and what you need to adapt. Don’t see it as a negative thing or a setback, see it as improvements to reach the perfect method for you.

I hope this post was useful, thank you for reading it, and I’ll see you in my next post.

The Best Way to Teach your Kids about Finance

Learning how to deal with our finances isn’t something that happens overnight. We definitely need to make some mistakes to understand what we should do with our money. The problem is when we make those mistakes in our adulthood, and let’s be honest, we all have been there. So, the only way we can prevent this from happening to our kids is by helping them to make financial mistakes while they’re young. The mistakes we want them to make are: having wrong priorities when it comes to buy things and not budget their money properly. How can it happen?

First- Earning the Money

1.Monthly Amount

Giving them a certain amount every month will mimic our salary.

2.Paid Chores

Give them chores that they don’t normally do and pay them for it, this will be similar to our extra hours at work.

Second- Their Goals

1.Goals

Help them write down all the things they want to buy, whether that’s toys, clothes, etc. Try to include something that would be in their “needs” category, if they were an adult.

2.Priorities

Have them write down the priorities of what they should get first.  

3.Budget

Ask them if they think they should have a budget or not. If they think they do, help them make it but stick to what they think it’s correct.

Third- The Mistakes

1.Mistakes

They will understand that their priorities were wrong (because they’ll most likely choose something that they want instead of what they need to be on top of the list). They will also understand that they need a “Plan of Action” aka a budget to get what they need.

2.Help them

Acknowledge their mistakes will help so much in their future. They’re going to need you to explain how things should be done, and don’t forget to show them that the mistakes they made were good and that they should be proud of themselves for being able to recognise and overcome them.

3.Encourage

Now that they’ve done all this, encourage them to not give up and give them a present or something they’d love to have. Dealing with finances will become a positive thing for them!

Thank you for reading it, and I’ll see you in my next post.

Cash Envelope System- The Benefits

I’ve written a post about the cash envelope system before, it explained how this system works. I’ve used this System for a while now, so I decided to make a post about the benefits of it.

I’ll leave the link of that post here, in case you’re interested.

1.Organisation 

In order to fill in the envelopes, I needed to get my budget right. So, I started to be more meticulous with it, and it made me a lot more organised with my finances.

2. Saved More Money

This was the only method that actually made me save a good chunk of money! For me, it’s the one that makes me be more accurate with my budget, and since I always pay things with cash, I started to realise the actual amount of money I was spending. It’s funny because when you pay things with your card, everything seems less expensive (at least for me haha). I was able to increase my percentage of savings due to this.

3. Under Budget

At the begging of the month, when I’d fill up the envelopes, I’d always hope to find some leftovers. So, I began to challenge myself to try to stay under budget. Obviously, I wasn’t able to achieve it every time, but whenever I did, I felt really accomplished.

Since I love this system, I decided to make downloadable envelopes that have the same theme as the Money Planner that I use.
There are different categories written on the envelopes, and the last envelope has no category in case you want to add a different one. The existing categories are Groceries, Rent, Household, Bills, Phone, Health, Clothing, Bank, Car, Personal, School, Kids, Pets, Travel, Savings, Restaurants, Entertainment, and Fun.
Every single envelope has a Budget Chart.

So, if you’re interested in them, I’ll leave the link here.

Envelopes

Thank you so much for reading it, and I’ll see you in my next post.

How to Save Money by being Organised

I’m a very organised person, I love to planning everything ahead, and I’m no different when it comes to finances. Since I started to be more and more organised, I realised that I was saving more money at the end of the month and thanks to it, I managed to save a lot more money!

Here’s how you can do it too.

1.Organise your Pantry and Kitchen

My pantry used to be a mess, and I’d find myself purchasing the same thing over and over because I thought I was out of it and in reality, it was just lost in the middle of the mess! So, one day I took everything out of the pantry and re-organised. This made a huge difference. I started saving more money because I stopped buying what I didn’t need.

2. Budget! Budget! Budget!

Writing down exactly how much you want to spend on each category will stop you from impulse shopping. It will help you to make better choices, and you’ll figure out how much you can start to add to your savings.

3. Plan!!

This tips goes along with the previous one. I started to write down my monthly budget, my expenses, bills, meal plans, etc! I started to have control of my money, and that made my savings increase a lot!

I’m extremely happy to announce that I’m launching a Monthly Money Planner! This Planner has a Budget Spread, a Savings Tracker, a Debt Tracker, an Expenses Tracker, a Bills Tracker, a No Spend Calender, a Meal Planner and more! I’ll leave the link here for you, and I hope this Planner helps you as much as it helped me!

Money Planner

I hope this post was useful! Thank you so much for reading it, and I’ll see you in my next one!

How to Achieve Financial Freedom

Financial freedom is something we all want to achieve. We’re constantly worried about our future, and most of our worries are about our finances. In order to achieve this, we need to follow a few steps.

This is How you Achieve Financial Freedom.

1.Create a Budget

Create the perfect budget for you and your family. Always prioritize savings, and make sure to adapt as you go. Check How to Budget your Income, The Ultimate Beginners Guide to the “50/30/20” System and The Ultimate Beginners Guide to the “Cash Envelope” System to figure out your perfect budget system.

2. Pay off Debts

This is a crucial step to reach financial freedom. Trust me, it isn’t impossible. Check 10 Habits to become Debt Free faster for some inspiration.

3. Have an Emergency Fund

Unpredictable things can happen at any time. Having that money on the side will have a soothing effect on your mind, and it will help you a lot in case of an emergency.

4. Have savings

Have goals for your money and save up for them. This habit will keep you away from debts. Check Different types of Savings everyone should have.

5. Stop living above your means

Most of us do this and don’t even know. After creating your budget, you’ll definitely start realizing  what you’re spending too much money, for example overly high rents, etc.

I hope this post was helpful, thank you for reading it, and I’ll see you in my next one.