How to Save for What You Want

Updated: Apr 29

Hello everyone and welcome back to my blog! I hope you're all having a great day. Today's post is all about saving for what you want.

Although I'm more responsible when it comes to shopping than I used to be when I was younger, I still enjoy shopping and buying things.

As money means more to me than it did before I had bills, when I make purchases, I like to spend my money on quality things. That being said, sometimes quality is expensive, and it's not easy to just buy everything you want all at once.

Today I want to share my tips for saving for what you want. That way you can purchase the things you want without breaking the bank or overextending yourself.

My first tip to save for what you want is to save!! Have a savings account where you can put aside a little money for the things you want. Having a savings account separate from your checking can really help as you're separating your money where you can actually see it.

You don't even have to put a lot away. Just $20 per check can help create an emergency fund or fashion fund.

You can also create a savings for fun and extras and have a separate one for emergencies to really split things up. Or, if you're going to have one savings for fun, emergencies, and etc. combined, be sure you leave enough in your account for backup when you dig in for fun.

You could also use your checking account for reoccurring purchases like bills and keep extra in there for fun and keep your savings separate so you don't touch it.

I know not everyone can't set up extra to save right now. Some of you may be living paycheck to paycheck or dealing with other financial hardships. I'm in no way saying you have to do these things. Do the best you can with what you have. This is just for if you are able to put a little aside, even if it's just $5 a check, to do that if it's accessible for you. Your best doesn't have to be the same as someone else's. Your best is enough.

Be careful with credit cards! Credit cards are handy, but they can be dangerous. If you have more than one, I recommend using at least one of your cards as an emergency card where you don't spend anything on it unless it’s for an emergency!

Stay ahead of your minimum payments on your cards as well. Try to pay more than the minimum so you can get your balances down quicker over time.

If you're using a credit card card for shopping especially if it's one that has incentives like cash rewards, pay off the card as you use it. Try not to let the balance get to be more than you can handle so you don't overwhelm yourself. Make sure it's something that you can pay off.

If you had to pay off all of your credit card balances all at once, could you? Sometimes that makes me think twice before I make a specific purchase on a credit card so that I don't get too ahead of myself.

If you're using a card for cash rewards or incentives, you can still save and put money aside towards what you want so that you can quickly pay off your balance when you use the card.

Be wise with your money as well. It's okay if you want to order out or splurge on your favorite things, but try to be mindful of what you're spending on as it could be saved for something you really want.

Do you have subscriptions you don't use? Are you spending a lot of money on hair or nail care or other things you could cut costs on? Evaluate your purchases so that you can really decide and figure out what's most important to you.

Thank you for reading. I hope you enjoyed and that this post helped you in some way.

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R'Nelle CyRe'

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