I have more month left than money   Does that sound familiar?? Don’t beat yourself up. Life comes at us fast, especially when we are trying to make financial changes. Today, we are going to talk about the obstacles to saving but the first thing I want you to do is give yourself some grace. You have taken the biggest step, desiring to get your financial house in order.

Often overlooked, but mindset plays a huge role in change. It can be challenging to prioritize saving over immediate wants or desires, especially in our consumer-driven society. It is less than 30 days from Christmas and gift giving can put pressure on your budget and your ability to say “no”.

You have to change your mindset around your money and your ability to plan for the future you. Instead of saying, this is impossible, define why you want to save. Knowing why you want to save is a motivator. Take it a step further by creating a budget to track your expenses and identify areas where you might be overspending.

Setting unrealistic goals is a quick killer of motivation. Life can throw unexpected expenses our way, whether it’s medical bills, car repairs, or other emergencies. These can derail your savings plan if you’re not prepared, so setting a realistic goal will keep you on track. Your monthly budget should include a line for emergency savings. Once you have a month of expenses saved, you can focus on paying down debt and eventually have money to invest in your future. I’m not saying one month of saving is all you need for your emergency savings, but it beats the hell out of using your credit card. If you can save more, go for it!

Untimed goals are merely wishes. We’ve all done it, “I want to lose 50 pounds” but haven’t taken the time to put dates and a realistic plan of action in place. If you are working on saving one month of expenses, how and how much you can save in the first week is a great starting place. Do this every week until you have a written 4-week plan with action points. At the end of each week, check-in with your plan, make the necessary adjustments and move forward. Don’t be afraid to get creative. I decluttered my home office and sold some sports memorabilia that was just sitting on my shelves. It looked cute but the money looked even better in my high yield savings account.

Now that you have an action plan, you need a system for success. If your plan involves taking leftovers for lunch, so you don’t have to eat out, then you need to ensure you have planned your grocery shopping and meal planning prior to Monday. Sounds simple but we all get busy and ordering something Wednesday night because you had to work late will throw your savings plan into a tailspin quickly. Think through your week and look for every possible way to make things automatic and as easy on you as you can. Of course, meal prepping is a lot of work upfront, but the benefit Monday through Friday is totally worth it. What else in your action plan can you create a system for success? If you really want to create some good systems for success, I highly recommend reading “Atomic Habits” by James Clear. 

Remember, saving money is a habit that takes time to develop. Start small and gradually increase your savings as you get more comfortable with the process. Look for areas where you can cut back on spending. It could be finding cheaper alternatives or eliminating unnecessary subscriptions. After you have an emergency savings in place, focus on paying off high-interest debt. Once you free up that money, you can redirect it towards more savings and begin investing. Your future self will thank you 🙂

Thanks for reading and remember, our story is far from over, let’s keep Enjoying the Journey!