You have BIG dreams, big goals, make good money, but building and maintaining savings feels like a big mountain you just can’t seem to climb.
No matter what the economic climate or year, money consistently is the #1 reason Americans are stressed with women leading the way.
It’s a fact that women are more stressed and overwhelmed about money than men. There is an emotional side to money and women are feeling it! According to a survey by creditcards.com, 68% of women compared to 56% of men say at times they lose sleep over money.
Having a sense of control over money gives peace of mind, lessens frustration, and reduces overwhelm.
The way to gain control is to ensure you create a “currency cushion” through a simple savings plan. Having a strategy and plan in place to save money and manage finances makes what seems impossible possible. Sticking to simple strategies that work can give you peace of mind and help you meet short and long term financial goals.
Here are 3 simple strategies to get started.
- Know what you are working with. Examine your money streams and take an inventory of all your expenses. Without knowing what is coming in to your household and going out is a surefire way to create unease and in some cases disease from stress. This can leave you vulnerable to developing anxiety and put you steps behind building a lifestyle you love.
- Start saving. No really start. Even if you have to start small with $50, starting is a must. Once you start, you will get in the habit of saving and desire to save more as you see your bank account build.
- Make it automatic. Savings should be automatic. Use direct deposit to build savings in an account that is not used for household expenses. This is money you forget is coming out of your paycheck so you aren’t tempted to spend it. Once you do, you will see your savings build and feel more in control.
These are just a few simple strategies, but we will expand on this soon and explore more!
Until Then, just start!