How to save money when you're on a budget
As always, my tips are my own opinion but usually easy to execute and not something that feels like a mountain to climb.
I love what money gives me and that’s freedom. I enjoy the independence money gives me and have always (since I can remember) made money to take care of myself. After working a lot of jobs and not being that great at putting money aside, I actually decided when I graduated Esthetician school to commit to saving something. At the time I was only making $19.50 a facial working part time but over time, as I started to make a little more money each year and branched out on my own, I started saving more and more. Below are a few of my tips for putting cash away for a rainy day, a new “anything”, or even maternity leave (truth serum-I used some of my savings pregnant/after I had Jude but that’s what it was for!)
Sit down and write out finances for personal and business. Keep this list close to you. Have essentials and fluff but be honest about what you “need” to make and “want” to make.
Have a personal and business account and same for savings accounts.
At the end of each week, immediately transfer a certain dollar amount to both savings accounts. DO NOT TOUCH THIS.
I like to give myself a small amount to work with and transfer the rest to savings and see what I can live off of for the month. I always surprise myself at the end of the month when I’ve spent way less because it wasn’t easily available to me in my account.
Put yourself on a spending freeze for x amount of time-for both personal and business. Unless it’s an essential tool or product-you’re not buying it.
I also love the digit app- It pulls small amounts (think .25 or $1) of money each day or week that you don’t even notice and at the end of the month I’m surprised to see a bigger chunk of money saved than what I started with!
Be realistic of your lifestyle and what you can keep up with. Business ebbs and flows. Things will be constantly changing. You have to be honest about what you can really afford.
If you’re thinking about starting a business: Start small-you’d be surprised what little you need get a business started. For more on going out on your own, check out this blog.