Pay yourself first
I’m sure all of us has been guilty not doing this, especially mothers. We tend to do things for our family most of the time leaving little time or even worst, no time for ourselves.
I remember how stressed I felt during my first year of motherhood. Even with a helper to help, I still am left with little time to myself. Yes, that means many times, I comb my hair at the lift(dripping hair ends and all!!!) on our way to church. Thank goodness we lived on the 14th floor during that time so I have enough time to finish before hopping on a cab.
That lasted for a year or two before I finally learned to manage how do motherhood, well, the right way, I can say. Definitely stress on myself and the rest of the family (
no less screaming) nowadays and to be frank, we it helped a lot not forgetting things (this is a major!).
Unfortunately this bad habit prioritising is often reflecting on our finances too. How many of you do the old way of budgeting? How many times have we saw this formula thinking that this is the only and only way for us to survive.
OLD FORMULA of SAVING:
INCOME 𝓁𝑒𝓈𝓈 EXPENSES = SAVINGS
There really isn’t anything wrong with the old formula, the only thing is you’re leaving too little for yourself, your future. Always remember that that savings is your gift to yourself for working hard, why only give what is left?
Do you know that you tend to spend more on unnecessary stuff when you think you have more at hand? With the old formula, your mind is programmed to know that you’ve got money on hand to spend, thus, it develops a problem “Where can I spend this money that I have?” With that, you buy unnecessary things that should have been avoided in the first place.
I challenge you to try this new formula next month:
INCOME 𝓁𝑒𝓈𝓈 SAVINGS = EXPENSES
Next payday, set aside immediately your savings and try to live on what is left. You’ll be surprised how much you could survive with lesser spendings. Your creativity would also come out as an instinct knowing you have less to spend.
Take note that you’ve also saved for something already, hence, the stress of having to save and having something left to save has been ruled out! That’s a win-win for you!
Hope you learned something today. Stay safe!