If you want to finally get good with money this year, look no further — Chelsea shows you creative ways for how to save money you may not have considered yet. Looking for even more ways to get good with money? Check out these tips:
Hey guys it’s chelsea from the financial diet and today i’m here to talk about the little habits that can make you better with money today now obviously we talked a lot on the show about all of the sort of like really nitty-gritty financial things that you can do to improve your finances but a lot of what getting better with money means is just having better overall
Habits and not all of them are financial just like you can train yourself to get up earlier in the morning or eat better at night or whatever it may be you can also train yourself to have good money habits number one is keeping visible lists basically any time you need to be buying something regularly there should be a list for it and it should be well within your
Line of sight i’m a big believer in keeping lists that are physical because not only are they easier to update they also give you a constant reminder as opposed to like being buried in the notes app on your phone so obviously there’s like the cute little grocery list notepad that you keep on your fridge and definitely get the notepad with the tear off sheets so you
Can take the list with you while you shop but there are also tons of other things for example keeping a running list of office supplies you need and keeping a little list for cleaning supplies and toiletries not only means fewer trips to go get random things but it also means staying ahead of what you need number two is money journaling our managing editor holly
Actually gave us this one because it’s been huge to helping her get good with money she said that every day she writes down the thing that made her happiest that day and how much it cost she says that this helps her notice if there are things that she’s regularly spending money on but never seeing written down in her journal which lets her know really quickly what
Items are not really bringing a lot of value this way she can create budgets without feeling deprived because she knows where she can cut things out number three is doing a regular cash-only cleanse now we’ve mentioned this one a few times but it’s always worth mentioning because it’s such an easy way to kind of set the reset button on what you deem necessary to
Spend on even if you just do one week every other month where you take out a specific amount of cash and can only spend what you have in cash you realize very quickly what isn’t worth it not only does it feel a lot more visceral to be putting down cash instead of a card it also gives you a much more tight frame to work in everyone’s biggest challenge with money is
Learning how to put the biggest distance between what you can spend and what you do spend artificially reducing the amount of money you have to work with each month is a great way to get that done number four is when you set a money go we’ll say it out loud whether this means just telling your friends and family about a money goal or even sharing it online in the
Community of your choice like i did with my tumblr the point is sharing it with other people helps keep you accountable and helps others be a part of the solution not only do you feel like it’s way more necessary to reach a goal once other people are following along too once you’ve kind of gotten over that taboo about sharing like let’s say spending restrictions
For a certain time it’s much more easy to just talk about it openly as it comes up you don’t need to feel bad about declining an expensive night out if you’ve already explained why you’re doing it number five is automating your most dangerous spending if there are certain types of spending that you know are likely to trigger you into bad impulse decisions such as
Clothes shopping or going to the grocery store hungry automate those things as much as possible and get them done online for example if you set up automated deliveries of things like non-perishable food items cleaning supplies toiletries etc you can easily reduce your grocery shopping down to once or twice a month and be sure to do it in the right frame of mind and
With a perfect list or if you know that things like wandering through a mall tend to bring on your worst impulse shopping habits you can do things like look at your professional and casual wardrobe see where regular items might need to be replaced and order them online you don’t need to make a big trip to the mall every time you need a new white button-down shirt
Or a basic pair of jeans as long as you know your size number six is turning regular account check-ups into a treat yourself routine now when i was putting the script together lauren mentioned to me that’s something that’s very helpful for her is being really routine about her bank account checkup now that of course means these sort of like every other day regular
Scan through the account to make sure nothing weird is happening which is much easier to do by the way if you have your bank app on your phone but she also makes sure to set up a much more thorough like once a month go through your account with a fine-tooth comb check up this is really where she goes through her bank statement line by line and really analyze with
Her spending habits now as someone who really hates doing things like this i’ve found that the way to make it even easier is to treat it like part of your sort of self-care routine the more you think of it like doing a face mask and less like something really boring that sort of involves a little bit of math the better to put it into like a luxurious sunday routine so
I’m not sunday you like light a candle you do a home mani-pedi maybe a face mask you put on a movie you love have that popcorn and wine and then you also go through your bank statement treating it like something good that you do for yourself which it is is the key to getting over your fear of it number seven is making a visual budget calendar now this one accompanies
Nicely my theory that lists that you see in front of you are way more likely to keep you on track and basically all this means is taking the spending that you budgeted out for yourself for the month and breaking it down in a very visual tactile way so i recommend getting one of those dry erase or chalkboard calendars that’s broken down into the days of the month and
Physically writing down the different ways you’re spending money throughout the month now not only do you write down your more expensive social outings you also break down your meal plans throughout the week and things like free activities and see how many you can get on your calendar writing out and putting a dollar amount next to all of your plans for the month
Not only helps you keep things more organized but it also reminds you of what really is and isn’t worth it when you’re just sort of taking things as they come it can be really easy to justify for example going out with friends three times in a weekend even if you don’t really want to the more you visually break down how you spend your time and money the easier it
Is to say i’m going to get a lot of value out of this dollar and not out of that one good money habits are all about knowing yourself and pre-empting your worst impulses there’s no perfect formula for everyone because everyone spends differently but there are simple steps that you can take to make sure that every dollar you spend has the highest value possible and
That means planning ahead so as always thank you for watching and don’t forget to hit the subscribe button and to go to the financial diet.com for more bye
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7 Habits To Make You Good With Money | The Financial Diet By The Financial Diet
