5 Small money intentions for the week ahead:
Here are 5 small money intentions for the week ahead, they may be small but will make a HUGE difference in your budget. It would also be smart to track your progress and log your thoughts and actions on each one.
Make a meal plan for the week that allows you to plan for indulgences while sticking to your budget. Making a meal plan not only helps your budget, but can help you with your health goals as well. Save eating out for those special occasions, or only have 1 dining out experience a week. You will save so much money by not going through the drive through or dining at your local restaurants.
Start a wishlist of items you get the impulse to buy. Revisit it every 30 days to see if you still actually want every item on the list. This can be very helpful. After revisiting your list, there will be items that are not needed. The items you feel are a must to buy, write them on a separate list and come up with a plan to purchase them. Add these items to your budget.
Have a “money date” with yourself or your partner. Comb through all of last month’s expenses, audit your subscriptions and cancel the ones you don’t need, and make a realistic budget for the month ahead. Out of all these tips, this one is the most important one. If you are sharing expenses with another person, it is very important that everyone is on board with how the bills are paid and what bills can be done away with.
Research one finance topic that still feels over your head. Start reading a book about investing, sign up for a debt payoff webinar, etc. Once you are ready to invest, be sure to look at all your options.
Real Estate Investing
If real estate is an interest of yours, Jeremy Scott (Owner/Broker here at SCR) would love to sit down and chat with you about real estate investing. Feel free to check out our lender testimonials on our YouTube Channel “Jeremy & Daniel Do Real Estate”.
Transfer any small amount you can part with immediately to savings, whether that’s $5 or $50. Every dollar counts! After planning your budget each month, you should have an idea of an amount you can budget from each paycheck. Once you have that amount budgeted in, you will not even miss it.
These 5 small money intentions need to be revisited monthly, since your budget will fluctuate monthly. If you have kids, this would be a great way to teach them about budgeting and staying on track.
Check out our next BLOG POST Tuesday, February 28, 2023!