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

Personal Finance 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.

10 Habits to become Debt Free Faster

Today I’ll be sharing 10 habits that will help you become debt free faster. The more you’ll be able to save and put towards paying off debt, the faster you’ll be done with it.

Here’s how.

1.Set a Budget

Be aware of how much money you can and want to spend on each category and commit to it. This step will help you organize your finances, and you’ll be able to put more money towards debt.

2. Downsize your Lifestyle

Selling your car and use public transportation, moving to a smaller house or share a house with friends will help you cut down costs.

3. Cancel your Subscriptions

This is a good time to cancel your Netflix subscription, your gym membership, etc. These are things that can easily be replaced, plus, you’ll have hundreds of dollars at the end of the year that can help you pay off your debt.

4. Reduce Spending

Reduce clothing shopping and online shopping until you’re debt free. Always try to stick to your budget, and if possible, stay under it.

5. Eat at Home

Have lunch at home if possible or cook your meals and take them with you to work. Also, make sure to eat before you leave the house, that way you won’t be tempted to buy food outside.

6. Take Advantage of Sales and Coupons

Whenever things are on sale, buy them in bulk, that will save  you money in the long-term.

7. Pay More Than Minimum Payments

Challenge yourself yo always pay more than what you have to, this will help you pay off your debt faster.

8. Free Fun

Having fun with your family and friends is definitely a must! We need to have these moments in order to live a happier life. So, take advantage of free festivals, outside activities, etc. Make sure to have an amazing time.

9. Get a Side-Hustle

From part-time jobs to selling things online, you have a whole world of opportunities to make a side amount to put towards debt. Check 6 Products to make and sell online, to find out more.

10. Avoid New Debts

It seems obvious, I know, but it’s important to pay off your existing debt before getting yourself into another one.

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

What you should teach your kids about money

Unfortunately, money management isn’t something we learn in school, and because of that, most of us made a lot of managing mistakes when we reached adulthood. To prevent our future generations from making similar mistakes, we need to make sure they have the right knowledge to make their choices.

Here are 4 things you should teach your children.

1.Budgeting

This is something they should start learning from early on. This will not only help them in the future when dealing with their money, but it will also make them be more organized.

2. Type of Lifestyle

We grow up seeing people buying cars, houses and even lifestyles they can’t afford. This equals to debt! What kids should always have in the back of their minds is that they should only buy what they can afford. We need to show them that living under their means while they’re young, will bring them a better financial future.

3. The Importance of Savings

This goes along with the previous tip. Saving for what want will keep them away from debts. And savings also help when there’s some sort of emergency in our lives.

4. The Right Mindset Towards Money

People usually look at money like it’s a horrible thing. They always complain about paying bills and taxes, this is a quite negative money mindset. We need to teach them that money is an amazing thing that helps live a happy life, and paying bills and taxes is a good thing because it means we’re making money!

There are so many games on Pinterest to start teaching young children about this. It’s definitely something that will change their lives. I hope this post was useful.

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

Tips to increase your savings

Having different types of saving is something that will be beneficial for you, and if you’ve been following this blog for a while, then you’ve noticed that is a frequent topic here. So, today I thought it would be good to share a few tips that will increase your savings.

1.Make a goal

First of all, you need to have a goal for the money you want to save. This will give you the motivation to keep saving, it will give you a “purpose”.

2. Have no-spend days

After budgeting your money for groceries, utilities, bills, your overall needs, you can start a challenge, the no-spend month, for example. This means that throughout the month you won’t be buying things that weren’t specified on your budget. Such as coffee, lunch out, etc. After this challenge, you will realize how much money you were spending on things you don’t need.

3. Have side hustles

Try to have another source of income besides your work salary. It doesn’t need to be more or the same amount of your work salary, the goal is to have extra money at the end of the month that you can add to your savings. You can tutor someone, sell services, take surveys, etc. I have a post on things you can make and sell online, click here to find out more about it.

4. Have the right budget

Always try to improve the budget you already have. Slowly try to increase the amount that goes to savings without affecting your daily life.

These are the tips I have for you. Let me know if you have extra ideas! Thank you so much for reading it, and I’ll see you in my next post.

Bad money habits you need to break

A while ago, I started making a lot of changes to improve my finances. I realized I wasn’t saving the amount of money I desired and after breaking some bad habits, my savings account increased.. a lot! So, today I’m sharing with you 4 bad habits you need to break and achieve financial freedom.

1.Living above your means

Many of us do this without even realizing. For example, I used to dine out every weekend and I clearly couldn’t afford that lifestyle at the time. Some people pay extremely high rents for what I can afford, etc. Figure out what kind of lifestyle you can afford and make the most out of it.

2. Not saving for an emergency fund

Emergency funds are crucial for us to overcome a crisis. Hopefully, we’ll never go through them, but having that money on the side can make a huge difference. This must be a priority.

3. Not having a budget

I know a lot of people don’t like making budgets, but this is key to be able to live comfortably. There are different techniques that will adapt to your life. Here are a few examples: “How to budget your income”, “The ultimate beginners guide to the 50/30/20 system” and “the ultimate beginners guide to the cash envelope method”.

4. Impulse buying

This was a big problem for me. Whenever I’d get into a store, I’d always leave with bags. It really adds up at the end of the month, so always think twice before buying and make sure it’s something you truly need. You can always add a category to your budget and, that way you’ll get to have fun but it won’t have a bad impact at the end of the month.

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

What you should do to stop being broke

This could happen to anyone. Sometimes, things don’t go according to what we previously planned, but it doesn’t mean everything is lost. You can take this as an opportunity to learn and grow new habits.

Here are 6 tips that will help you get out of your reality.

1.Write down all your expenses

Know exactly where you’re spending your money on. Write down every single item that you buy during the month.

2. Divide them

Divide all the items into two categories.

Wants: all the things you are perfectly fine living without.

Needs: all the things you can’t live without.

Also, make sure to figure out how much you spend on each category.

3. Cancel your subscriptions

Cancel all the unnecessary subscriptions, for example, your Netflix subscription or your gym membership. This step will make you have more money on the side.

4. Sell items you no longer need

This is a fast way of making some extra money. I have a post that goes a bit more in debt about this tip.

5 simple ways to make extra money”.

5. Downsize your lifestyle

Try to move to a smaller house so you can pay a lower rent or, move back to your parent’s. Be aware this is only a temporary situation, so don’t be afraid to live with them for a while.

If you’re paying a car debt, you could try to sell it, pay off your debt and get a cheaper one or, instead, you could use public transportation. Again, this is temporary.

6. Get new habits

Start cooking your own meals instead of going out to eat. Clothe shop only when necessary. Quit outside coffee and snacks, bring your own coffee and snacks with you. Make, the start of an emergency fund, a priority.

These are all the tips I have for you. I’d like to highlight the importance of an emergency fund. It’s definitely something, that in case of losing a job or any other unpredictable event, will help you get back on your feet.

Once you move forward from this moment and are finally back on you’re feet, make sure not to stop doing some of the steps on this post. Continue to stay on track of your expenses and don’t live above your means. For example, save money to buy a car instead of getting a loan. This will completely change your reality.

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

Different types of savings everyone should have!

In all of my budgeting posts, I mention frequently the importance of turning a big portion of your income into savings. This is a habit we should all have because if we hustle and plan ahead when we are young, our future will be more peacefully and we will be able to enjoy every moment with the people we love.

If you’d like to learn how to budget your income then you should read the posts I’ve written about it: How to budget your income, Beginners guide to the “Cash Envelope” system and the Beginners Guide to the “50/30/20” method.

These are the types of savings we should all have.

1.Emergency Fund

This an extremely important saving you should have. It will help you “survive” in a crisis. If, for some reason, you are left without a job or can’t work because of an illness or you might need to assist a family member, then having this money will make things less stressful.

It should be 6 months to a year worth of bills and debt payments, as well as groceries and other needs.

2. Investment

Having money on the side for future investments that will make you more money, is actually a really good strategy for the future. For example, it could be money to invest in a property so you can rent it and make it a source of passive income. It should be something to start thinking once all of the more urgent savings accounts are more secure.

3. Long-term Savings

This type of savings is meant for something that you know you are going to want or need in the next 10 years. It could be, for example, a house, certain debts covered, university funds for your children, etc.

4. Short-term Savings

If you’re planning, in the next 5 years, upgrading to a new or bigger car/house or for example you want to renovate your space, or even a holiday this is exactly the type of savings account you’ll need.

5. Retirement

This is probably the most important one because we know this is inevitable, we are going to retire someday and we’ll need a fund to live off. Since it’s something more down the road it means we have more time to save but it also means that we have an opportunity to save more and make our retirement less stressing and more enjoyable.

So these are the several account savings we should have. I know not everyone has an income that can cover all of this, but what I want to transmit to you is that even a small amount of money towards them, will have a really positive impact on your future.

Check 5 simple ways to make extra money if you’d like to have a few ideas to earn extra money.

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

Beginners Guide to the “50/30/20” System

There are several budgeting techniques and it makes the process of choosing which one works best for us a bit overwhelming. So, my goal is to explain the several existing methods, in order to make your decision slightly easier.

I also have a Beginners guide to the “cash envelope” system, if you want to learn a bit more about it.

The 50/30/20 categories

50%- corresponds to every need you have throughout the month. These needs might be rent/mortgage, utilities, groceries, car payments, etc.

30%- corresponds to your wants. For example clothes, memberships, subscriptions, dining out, etc.

20%- corresponds to your savings.

How to budget according to this system?

1.Figure out the exact amount you can work with

I always start with this step in all my budgeting posts but trust me, this is crucial in for you to succeed at it. You need to know the amount that is left after deducting your taxes, social security, etc.

2.Calculate the amount for each category 

Income (step1) * 0,5= Needs

Income (step1) * 0,3= Wants

Income (step1) * 0,2= Savings

These will be the exact amounts you’ll be able to spend on each category.

Tip: try to stay under budget in the needs and wants categories, that way, you will be able to add more to your savings. Enabling you to create future investments, savings account, an emergency fund or even pay off any debt quicker.

Feel free to adjust the percentages if you think that will benefit you. Overall, it’s a really good method to start a budgeting journey and increase your savings.

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

Beginners Guide to the “Cash Envelope” System

The “cash envelope” method is a great way to save money, to pay off debt and even to build your retirement account. It’s actually an easy way of achieving some of your goals, you get to save for that dream holiday, for the house of your dreams, for the huge wedding you’ve always dreamt of or even to plan the move for the country you’ve always wanted to live in.

So, here’s how this method works:

1.Figure out what you can work with.

Start with your tax and expenses free income. Know exactly the amount you’ll be able to take out of your bank to use it on the envelopes. Keep in mind, some things are paid with your debit card, just make sure to incorporate them on your budget.

If you need help making your budget, you can read this post that I wrote on How to budget your income.

2. The categories

This step may be different from mine. I’ll give a few examples with my categories, but you should adjust them to your life. Mine are: Groceries, needs, knowledge investment and fun money.

3. Choose the envelopes

Try to get envelopes with different colours, this will help you memorize which envelopes correspond to which categories and also because they’re cuter! I use paper envelopes but there are other envelope systems, for example, the Dave Ramsey’s.

4. Fill your envelopes

Now that you know your budget and you have the categories on your envelopes, you can start filling them with the specific amount that you designated for each.

Don’t forget to leave the money meant for the things you’ll pay with the debit card in the bank.

5. What’s next?

Well, now you go shopping and only spend what’s in the envelopes. Some people like to just have their envelops when they’re going shopping. To be quite honest, it’s something that bothers me, so when I go shopping I take the amount from the specific category and put it in my purse.

6. At the end of the month

Whatever is left on the envelopes and on my bank account that I didn’t use that month, I put it into savings. That was key to sky-rocket my savings account.

I really hope you try this method. Thank you for reading it. I will see you in my next post.