It's no big secret that saving money is a very important habit to build in order to ensure you can handle any financial emergency that comes your way. With my simple save money weekly challenge you can kick your broke self to the curb faster than you think and start living your “comfortable” self.
Here's The Truth ….
The hard reality is …. Many people DO NOT have even close than enough cash put away for a rainy day. This is not only dragging many people into a long road of stress, it's also going to ensure a ton of people in their “golden years” are going to be completely broke.
Listen….. Starting a side hustle or full on business will bring in cash, however…. If you can't save some of it, plus manage it correctly it will not matter.
You will still be short every month.
Money Is More About Habits, Not Math ….
Having money put away for an emergency is something that everyone should strive to accomplish. Some of the biggest names in financial guidance will never argue with what I am saying here …. You need some cash put away! The good news is no matter where you are in terms of finances right now you can build up a hefty savings account.
One of my favorite books on the subject of money is…. The Richest Man In Babylon. In this book there are old school teachings about money that have stood the test of time….. They simply work.
I suggest you click the above link and get a copy so you can read the entire book….. Not because I am trying to sell you a book…. It's because I know you will benefit from it.
As we move on I do need to tell you that this save money weekly challenge came out of the pages of this book. I do not intend on taking any credit for the idea…. What I do intend to do is open your eyes up to the opportunity available if you apply this little gem.
Enough Of My Blabbing…. What's The Damn Challenge?
Put away no less than 10 percent of every dollar you make.
Dude that's it? What a stupid article, I'm even bored myself…. Better click away and watch some YouTube.
Not so fast there…. Have you ever thought about how much of your money goes out the door before you pay yourself?
Go ahead ….. I'll wait……
- Cell phone
- Useless crap (come on we all do every once in a while)
- Take out
The list goes on and on…
You Must Pay Yourself First !
As written in The Richest Man In Babylon saving no less than ten percent of every dollar you make will start “to fatten thy purse.”
I have and still personally do this and I can tell you 100% from experience that it does work. It's usually not so much the amount of money you are paying yourself….. It is the habit of saving that you form, this is the real golden egg here.
Sounds foolish…. Can you stick to it though?
Will you have the discipline to stay the course and figure on ten percent of every dime you make going into savings? Week after week, year after year.
We Pay Everyone But Ourselves!
Think of that for one second ….. How often do you get payed and start paying bills, shopping, and eating out? All of these are drains, they slowly leach away at your wealth.
Of course, we have to pay bills and eat, don't get me wrong here; however why is it that we work so hard and yet never pay ourselves?
I promise you … You can make a million dollars, start a successful online business, or just inherit a ton of cash. If you can't stay disciplined more times than not you will end up losing most of that money…. Sometimes all of it, just look at some of the people that win the lottery and are broke in 5 years, or the celebrities that came and went out broke.
Having Money Is Habit Not Math!!
This is what paying yourself before anyone else will give you over time.
You can do this I promise, when I started out I felt probably a little like you do now…. Yeah some simple and stupid money trick, here's the thing …. Number 1 is I don't promote crap, everything I tell you is honest…. Yes it will take work, this is not a “secret guru trick” that will have 20,000 in your savings account in 60 days garbage.
Number 2 : This “habit” will absolutely help you ! There is no sales pitch, no send me your social so I can show you the “secret” This is me and you trying to get our finances better than they were yesterday.
Prove Me Wrong ….
The save money weekly challenge is my nudge for you…. Can you stick with it? Tell you what, if it somehow doesn't get you a nice chunk of savings in a few months e-mail me at email@example.com and I will listen and respond to your questions or even gripe.
Listen …… Try this out, all I am asking you to do is put no less than ten percent of your weekly pay in an account.
Here at Luminous Outlook we often focus on making more cash through our businesses or side hustles, however money is also discipline and habits combined with the ability to generate more through a productive side hustle.
If you make $1,000 bucks a week, put away $100 dollars, week after week, don't spend it or touch it. Pay yourself first, you will see over time that your finances will improve 10 fold. You will be less stressed and worried about the “what If.”
It does not matter if you make $5000 a week or $100 a week, this will work.
Remember, money is more habit than anything else, develop this habit and hold on to it. I highly suggest picking up a copy of the book The Richest Man In Babylon as you begin this journey.
There is so much more in the book than is what is written here. There are good investments and bad….. I assure you this book is a good investment.
Either with, or without the book I encourage you to get going on this habit right now. Time is on the side of the person with discipline and structure. I promise you will not regret it, even if you do all you will have to be mad about is a “fatter wallet or purse.”
Wishing you much success on your financial journey… Jerry Litmus