Years back, I never knew saving money could go a long way to help in many ways. I never knew it was one of the way to break away from paycheck to paycheck lifestyle and flee from the rat race struggle. Saving money is one of the few steps to financial freedom. With financial awareness and taking discipline steps, I was able to differentiate it all and be more focused to achieve and work towards my desired goals.
Since I got aware of the importance of saving, I try to make each year better than the other in my effort to become financially free. In saving, I started learning new skills and change in the way I see and manage my money and even think of making more money.
These are the eight things I learned from saving money.
SHIFT IN MINDSET
With savings, I had a shift in mindset about being wasteful in spending and not documenting to being positive about my financial future. With saving money my mindset had a shift from consumption mindset to be frugal in my spending. With saving, I had this mindset of what to fall back on to manage a personal project. I developed the attitude of delaying gratification to keep working towards my financial goals.
DEAL WITH DEBT
With saving, I learn to deal and manage debt and was also able to resolve it. I know of a friend you who saved really hard and had a shift from consumer behavior to frugal behavior and was also able to budget a certain amount for his debt and paid it off before the end of the year and he was able to manage his expenses well and able to continue the habit of being a good saver.
MANAGE RAINY DAY
I know I needed to start planning because the future is here and now. It’s never late than before. I had to start saving hard to plan for the great days ahead. I planned for enough cash to plan for an unexpected project that might come up unplanned and work towards future projections. With saving on rainy days, I can quickly resolve these issues. With these, the best and worst days are planned for and I worry less.
WORK TOWARDS FINANCIAL FREEDOM
With saving, I start working towards my financial freedom and start planning to retirement too soon to help achieve my financial goals. Saving have helped me a lot towards knowing its one of the vital tools to achieve my financial goals.
SAVE MORE AND BE DISCIPLINED TOWARDS YOUR GOALS
I started saving more, increasing the percentage I save from income. I became more disciplined in my saving because I could achieve financial freedom through my consistency and focus to achieve my goals. In the past, any little cash that gets into my hands will be spent on expenses but now, I quickly save them because I budget my finance. When I get any little change, I quickly save to help increase my savings and grow my confidence in my financial goals.
With me being able to be disciplined with my saving, I developed a habit of investing monthly, quarterly depending on my financial goals and how I planned it.
I was able to buy stocks, ETF’s and many more and work hard and made my money work for me to achieve financial freedom.
When am I less busy, I sign into the app to see how my investment is doing and how slow or fast it is growing and its impact on my net worth.
Investing opened a new world to me through the act of disciplined saving and since that period, I never looked back. I look for ways of saving and investing more and learn more about investment products in the market and look for a better avenue to expand my investment in the financial world.
With consistency in saving, I grew confidence about the future that I can have a good life. If only I remain committed to the act of saving and keep working towards my financial freedom.
I know how to manage my finance and I can delay gratification. I can buy the things I want any time if it adds value to me. With it, I can plan towards to a good life and future through consistency in saving and working hard towards my financial freedom.
BUDGETING AND PLANNING SKILLS
With saving, I developed the habit of budgeting my finance to know where my money is going and what really made me accumulate expenses, how to cut my expenses, managing the ones I need, to help save more money. I now delegate money to manage different expenses and for planning for my future project. I was able to manage my fixed and variable expenses well if likely adjust it to fit my lifestyle to help get my desired result.
With budgeting, I realize I had more money and had to start saving more and more and it kept me motivated to look for more ways monthly to cut down my expenses and save well.
Now, I plan my finance extremely well and work everyday to become more better and keep working to achieve my financial freedom.
With what I learned from saving money, it made me become financially aware of where I am, how I need to make the necessary change to become financially free or end in financial woes in years to come. I worked hard, put my money in places that made it work hard for me while I focus on expanding my financial education. Through saving, my account become organized and working now to achieve more financial goals that will lead to my financial freedom.