Savings, Savings, Savings.

 It's the thing that we love and hate. 

I had touched on Savings/Money Management in one of our Let's Talk segments and thought that I would go just a bit more into it. 

When I was young, I prayed that someone else had broken down to me all about saving. 

Not just the 'You better save that money', but the how-to of savings.

It's easier said than done and it takes more discipline and self-control than you know. 

In our Let's Talk session, I stated that I never saved until it was for a vacation or something that I wanted such as a car. 

I never had real savings account that I can rely on for rainy days. 

The reasons could be a number of things, but it really doesn't matter because I just wasn't a saver. 

I liked having money, but just as money came into my hand I found something that I might not necessarily need to spend it on. I was careless and irresponsible, to say the least. 

So before I go on, I want to explain that self-control, responsibility, and discipline is going to play the biggest role in your savings than anything. 

Proverbs 10:4-5 (ESV)

"A slack hand causes poverty, but the hands of the diligent makes rich. (5) He who gathers in the summer is a prudent son, but he who sleeps in the harvest is a son who brings shame."

If you have an issue with prioritizing and controlling yourself when it comes to impulsive buying, then you're going to have a problem saving. 

Practice saying no to yourself and wants and more to yes to what you need. 

Practice prioritizing what is the need in your life before what you want. 

Weigh it out. 

"Does it really ties into your needs, right now?"

"Is this a demand?"

Once you can organize how you spend your money, then you will see the hole that was in your pocket all along.

Now, there are a lot of savings tips out there. 

I have seen a person do a percentage out of their paycheck and have that percentage move to savings account without any kind of access unless emergencies. 

Some persons have tried the five-dollar bills or other money challenges, where if they receive a five-dollar bill or any of the bills in the challenge, they would put it in a jar and don't bother it until it is full. 

I had a Co-worker who did this and ended up with 200 dollars in the end. 

There is another savings tip, one I preferably use and it is called the Budgeting system. 

This is where you write down all your expenses such as grocery, light bill, water bill, rent, gas, fun times( your Funtime money), barber, nails, hair, etc. 

After you write it all down, you divide which will go under your paycheck for that week. For instance, I only get my hair or nails done once a month so they would only go under one paycheck. 

Also, you don't need to have groceries for each paycheck, but either once or twice a month. 

Obviously, this would go based on how many times you get paid within a month. 

I have seen a person included rent for only their last paycheck in the month, or split it up. 

Now, within my budget system, I don't do all of the expenses and leave whatever I have over for 'savings', but my savings are also added as an expense. 

I use the percentage way, but you can use whatever you choose to be your savings. I use 10% percent of my paycheck as a saving, others, just take $50 from their pay or more. 

It's whatever is comfortable for you. 

Now, if you are a visual learner and my description above confused you, no worries below is an example of what I do for my savings. 

Firstly, let's say you get paid bi-weekly meaning every two weeks and your payment is $600.00.

Now, your expenses are:

Tithes: 10% of pay = $60.00

Groceries for the span of 2 weeks: 200

Savings: 60

Light( can be split into two pays assuming it's $200): $100 this pay.

Water: $50

Gas: $50

So far expenses are $520.00 meaning that for fun times, you have 80 dollars to splurge. 

Considering that you have paid for water and half your light this pay, you won't have to factor in water for the next and you would just pay the next half for light. 

Keep in mind, this is just an example and for different countries and different persons the total of your expenses can be cheaper or more expensive as well as your pay can be more or even less. You probably don't have these expenses either.

If this savings idea doesn't work for you, you can also try the first one mention. Some banks have salary deductions. You can go to them and have them remove the amount of money you want as your savings to another account for you. 

Also, if you have great self-control when you get $5 or $10 you can easily miss it, you can try the second method and throw those bills in a jar to see what you come up with in the end. 

You can also try the challenges where today you save $1, tomorrow you save $2, the next $3, and so forth. 

Saving can be easy and fun for you as well. It is doesn't have to be a headache. Plus, it doesn't have to be big. 

You don't have to start with $50. Just as much as you can for now and watch with consistency how much that little seed of yours will grow. 

That's what I think savings is for us. 

A seed that we continue to water until it becomes a tree that shades us on rainy days. 

I hope I have assisted you with this and hope you have taken it into consideration. 

It's not going to be easy and some days, you may relapse on your savings venture, but don't give up. 

You would prefer to at least do something than nothing at all.

 

~TheRay