• Tiffany

How to save $10,000 in your 20 somethings

The older I get the more I find that the most important thing in your financial life is credit and savings. I get asked a lot how do I afford to travel to these exotic places and how I maintain a high credit score. So I’ve come to tell you just how I do it and give you some tips to incorporate into your financial schedule. There is no doubt that non-inherited wealth has grown over time due to many small businesses turned big or just people like me spending smart and saving. It’s all about the mindset and what you want to see your money do for you long term instead of short-lived happy moments your money can buy.

Set a Reasonable Financial Goal

Some people don’t think a lot about what is in their bank account. Me, personally I check my account multiple times a day just because I like to know. Create a habit of knowing what you have before and after you spend it. I read an article about the smaller the goal the more incremental the goal. Think weekly or daily goals versus monthly or yearly. That way you have a lot more control. This is as easy as spending less for breakfast, lunch, and dinner in a day. Take yourself to the market! This is super important.

Spend Less than You Make

If Jay-Z was to walk up to you and ask how much do you make in one month, would you be able to answer with accuracy? I can! You are only worth as much as you put into yourself so know what’s going on in your pockets. A great way to keep track of your spending is handling it electronically. I use MINT which is my holy grail to budgeting. In the beginning, it was difficult for me to grasp but now I love to reference it and look at my income and spending this year versus last year. Yes! I ‘am that into my finances! I suggest you act like you have less to spend then acting like you have more. (If you are trying to save)

Automatic Functions

Another great tool you can consider is getting automatic savings deducted from your checking’s. Every first of the month I have an amount that gets transferred from my checking’s that goes into my savings. What has been very beneficial in my savings journey is also paying myself first. For example, I get paid from my employer and before I pay ANYTHING I pay myself first. If my savings read $8,325 I initiate my “top off” effect and put $175 in my savings to top off my savings to $8,500. I hate when things don’t read a flat amount so this habit has forced my savings to jump into reading five digits instead of four!

Extra Income

So these things are attainable to me because I earn two forms of income. I’m able to work two jobs. One job is strictly for bills, trips, and living. My second job goes to my savings which I never touch! The best tip I can give you is to act like your savings aren’t there and work off of your income left in your checking’s. It is hard but it’s doable. You have to be reasonable with yourself and know what you put in your saving is something you can afford to do because it’s going into your savings BEFORE anything is paid.

I have many tips that I can go on and on about but less is more when it comes to starting to save. So these above factors are very beneficial and I can confirm and say that it did help me reach my goal of $10,000 in my savings. I’m here to help so let me know if you have questions and what is working for you!



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