Save 10 Stacks like a #GirlBoss
I love the hashtag, #GirlBoss so much that I literally follow the hashtag on Instagram, as well as #TheBossBabeSociete. I love to see all things “Boss Babe” and “Girl Boss”.
Recently I have really been struggling with saving money. Having two toddlers is no joke! And my income isn't fixed or hourly. I spoke to some of my closest friends and really struggled to understand how they manage to save. Of my best friends:
One puts money into a savings account that she can’t access, but she uses the money to pay off her credit card
One lets her parents manage her money - all of it.
One gives one entire paycheck per month to her husband
They gave me other tips like breaking down your spending, sticking to a budget, putting into your savings like it’s a bill, and even opening an account that you’re unable to touch for a fixed amount of time. Who has the self discipline for ANY of those recommendations? There’s also a great way to group save by putting a fixed amount into an account every month and when you collectively reach the group’s goal everyone gets a lump sum cheque. But that requires a group of people who are committed to that idea and trust each other.
But then it clicked.
I figured out HOW I was going to save the money that I needed in my savings account: $10,000. These are 10 ways to save any amount of money.
Set a goal.
For me this was $10,000.
For example, if your rent is $1,000 pay $1,100, pay an extra $20 on your utility bills, and an extra $50 on your phone bill - EVERY month. You are effectively prepaying your bills. This is a form of saving.
Pay per paycheck.
You can also make it easier on yourself by paying per paycheck instead of per month. For example, if your rent is $1,000, pay $550 per paycheck instead of $1,100 from one paycheck. According to earnest.com people spend up to 70% of their entire income on rent! So yes, taking rent out of every paycheck can definitely be much more realistic than out of one paycheck per month. Also, this will help you budget better. And I also suggest ACTUALLY paying it! Actually giving your landlord that $550 and saying this is toward my rent is better than putting it aside and ending up “needing” it. Out of sight, out of mind!
Find a side hustle.
Forbes even wrote that the side hustle is the new job security. And what if you get really good at your side hustle and can actually quit your day job? What could an extra $300 a month do toward your greater goal?
Cut every expense.
Ok, fixed living expenses are impossible to avoid. Rent, utilities, groceries. But when we’re on a “savings beat” we are living poor, OK? Don’t pay me no mind. I am not going to lunch with my friends, I’m not going for a drive, I am meal prepping, and I am a home body. Home body = save shmoneyyy!
Pressed down and running over.
This one may sound contradictory because you can’t “spend” if you want to save, but hear me out. When you GIVE in abundance, the Lord says that you will RECEIVE in abundance. Don’t hoard your money out of fear, there is always more money to make tomorrow and the Lord will provide you these opportunities. Luke 6:38 says, “Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you.” What you give will be returned to you in even greater condition! The amount you give will determine the amount you receive. A good amount I always feel is at least 10% (your tithe). So whenever you put some money into your savings, take a little out and give it to those in need - a charity close to your heart, a friend’s GoFundMe, your church, a homeless outreach, whoever may be in need that you feel for. Always make sure that it is a cause close to your heart.
Spend 1 extra hour on your side hustle.
Maybe you can wake up an hour earlier and commit that extra hour to your side hustle or maybe you can only commit one extra hour per week, but that extra hour is extra money. Any extra hours you pick up at your 9-5 or on your side hustle are going to benefit your 10 stacks.
Choose ONE day a week for errands
After church on Sundays, I go to Fruit Bowl (local small grocery) and get my organic eggs, fresh berries, avocados, and green leafy vegetables. Then I go to Price Smart (bulk grocery, like the Sam’s Club of the Caribbean) and get the boys’ milk and anything I can buy in bulk for the entire week or more. One trip = less gas spent, less time from my week (time is money), and I go with my meal prep list.
Subscribe & Save
I use online purchasing sites like Amazon Subscribe & Save to buy certain things that would otherwise cost double!
Only SPEND on one day a week.
Imagine if only on Sundays you paid all of your bills, you bought whatever you needed, and you effectively only spent with a clear mind. That’s what this does. Think about it… You set Sunday to be your day to spend. But then on Tuesday you see this really cute blouse on IG and you want to buy it and it’s only $32. You have $32. The blouse is driving you mad, you really want it! You have to wait on Sunday. Now on Sunday, you realize you lived this entire week without this blouse and by not buying it you’re $32 closer to your goal. You go online and look at it and see 6 other things you wanna buy. But you’re in money mindset today. Anything you spend effects your goal. You just saved +$200 by waiting til Sunday because if you spent on this impulse buy on Tuesday, you probably would’ve bought more than just a $32 blouse because shipping, hello!
I hope all of these tips work for you the way they’ve worked for me! Let me know in the comments below or send me an email. I love swapping hustle tips!