Coming back from LA and transitioning into a new job while looking for another job and having some serious financial goals all while still trying to make time for my dreams has my budget spreadsheet all out of wack right now. Difficult isn’t impossible when it comes to rebuilding your savings, paying off debts, and executing financial goals when you make a plan and stick to it. Here are six simple steps I have been trying to implement as well as a few tips I’ve learned from others. Continue reading for 6 simple ways to save when you are rebuilding or first time building a savings and setting new financial goals!

In no particular order:

1. Write down your monthly expenses.  If you know how much has to go out of what comes in it gives you an exact view of what you’re working with. It sets discipline with financial obligations as well as establishes your budget. You’ll think twice about going out to eat everyday or buying that purse you want when you know you want a certain amount in savings or a certain chunk of student loans paid off.

2. Envelope System. I took a Dave Ramsey 12 week “Financial Peace” course a few years ago and one of the simplest tricks he used was an envelope system. After you set aside your tithe, pay your bills, give yourself allowances for other activities. Gas, food, shopping, fun, travel etc in separate envelopes. Think about how much you waste in impulse buying. Give yourself weekly or bi-weekly limits. For example put $30 your eating out envelope. That way you don’t go every single day but you can still grab your starbucks a few times a week and go out to dinner with your girls on a Friday night with out wasting excess money on something that can add up quickly.

3. Don’t use your debit card for purchases under $20. I used to be the worst at this! I would swipe my debit card for everything and before I knew it $100+ was gone on random things like food and a few t-shirts! This ties in with the envelope system because you know how much you have for certain things but it also helps keep track of your spending for those of us who don’t write down every transaction like we should.

4. NEEDS vs WANTS. A lot of people live paycheck to paycheck, and I don’t know about you but 6 months from now I don’t want to be one of those people anymore #AmenSomebody. The day or two before payday when you have $20 left what do you do? Think what you can spend it on. STOP THAT ISH!! Establishing needs vs wants in your life when you are in a rebuilding and saving phase in your life is so necessary! Whether it’s $1,000 or $100 or $10 if there isn’t something that you need, put that money away in a savings account, shoebox, whatever. You never know when you need it or you might have a purchase that you want, after months of taking care of your needs.

5. Set goals and stick to them. Whether you make $8 an hour or $80,000 a year you can still accomplish serious financial goals if you just tighten up for a little while. If this is your rebuilding time like it is for me maybe try some simple things like pay yourself every pay check. Even if it’s just $20 bucks a paycheck that you put aside, that will add up over time and you will have, as the old folks say, “a little nest egg” and consider that what I call INVISIBLE MONEY and pretended it doesn’t even exist. If you don’t want to be as specific with amounts give yourself a goal that can be something as simple as don’t buy shoes before you pay your car payment and don’t go out to eat if your phone bill isn’t caught up… #ijs tighten up.

6. Live within your means. aka STOP frontin… STOP trying to fake it til you make it. If you work a honda income type of job stop paying a range rover car payment. If you have the deluxe cable package with HBO, Showtime, and Starz but you pushing carts how about you downgrade for 6 months. You’ll survive without TrueBlood and NBATv for a little while so you can save. Ladies… ladies, ladies… DO NOT go out faking the funk buying red bottoms and jimmy choos when you eating oodles and noodles 5 out of 7 days a week. Who are you trying to impress so badly?? Not judging, just saying, be realistic about what you’re doing now because it affects your tomorrow.

Those were just some tips, tricks, and suggestions when rebuilding, establishes, and catching up. Try one or try them all.

“His lord said unto him, Well done, good and faithful servant; thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy lord.” Matthew 25:23

Stop praying for bigger blessings if you aren’t managing simple things correctly. Start where you are with what you have. Stick to it!!

Thanks for reading! See y’all next post!