Saving Money is a State of Mind

I used to not be conscious of the amount of money I was spending daily on little things like candy bars, cookies, and etc while working.  A candy bar is about a $1.00, and cookies or snacks can come out to about $2.00.  Once I stopped and reflected on the amount of money I was spending daily and realized that it came out to about $8.00 per week which is about $32.00 per month. On junk food.  Food that I didn't need but wanted.  That amount of money is equal to a utility bill.  So I stopped spending money on snacks daily.  Now I don't deprive myself.  I still enjoy a snack here or there, but I don't buy them daily like I used to because now I am conscious of the amount of money I am spending.  The reason I became so conscious is because I need to save, and I've realized how crucial it is to have an emergency savings for unexpected life events.

Once I became serious about getting an emergency savings going, I picked up extra hours at work so that I could at least save $1,000 per month for the first couple of months.  Mission accomplished.  So right now I have  almost $3,000 in the bank.  With the income that I have now, my ultimate goal for an emergency savings is $10,000.  I would be very comfortable with that amount in savings.  It's enough so that if I am out of work for several months or get sick, I would be able to cover all of my bills without worrying.  By the end of this year, on New Year's Eve, I am expecting to have around $6,000 in my emergency savings taking into consideration the projects that I have lined up that cost money.

This is how I did it.  First, I picked up extra hours at work as I mentioned earlier.  Then I would only buy food that I needed for the week. No extra snacks unless it was within the budget that I allocated for food.  Any money leftover from that week's budget of food and gas went into the savings.  Any money that I received from tips went into the savings.  I also sold a few items on ebay that I didn't need or no longer used.  That money went into the savings also.  Any extra dimes or nickels that I found on the street, I picked them up to use for the parking meters to keep from having to use my debit card to pay the meter.  You will find that if you are walking on the street and are looking down, you will find coins here and there.  That money adds up.  I cut out the facials, manicure and pedicure visits.  I do my own hair, so that's more money in my pocket.  I looked at my bills to see where I could cut some of my services. This has worked in the past, but not this time around because everything I have now, phone plan, insurance coverage, etc, is needed.

At any rate, do what works best for you.  No one wants to be in a situation, where she can't sleep at night because of lack of money.  It's one of the worst feelings in the world.  To be without.   Sacrifice for a few months to save a cushion.  It does wonders for the mind.

I am the dark mystique.