• Hillaree

Skin On Glow, Money On Grow

Let's talk money. More importantly, let's talk about how to keep it where it belongs... in your bank account. I'm definitely not no Jeff Bezos, but I've managed to save a few dollars while still being able to live my best life. Here are some tips that have helped me & hopefully will help you too...

My grandpa is a very wise man, throughout my life, he has taught me almost everything. One of the things he repeatedly stressed, was the importance of saving. He told me to save, but he always highlighted that I save reasonably. What does that mean gramps? It means that, if you get paid $100, don't save $75 and only leave yourself with $25 for the next two weeks. Why? Because you most definitely will have to dip into the $75 you saved, and before you know it, you've eaten up all your savings. Gramps said don't save half of it either, because you have bills, you have to eat, what if there's a sale at your fave store? See, I told y'all gramps is wise, he thought about these things. These are all things that can have you dipping into your savings, if you don't save reasonably. Save about 30-35% of your pay, so you are able to live comfortably without having to rob yourself of your savings. Of course, as you earn more money you should increase the amount you are saving, with always remembering to save REASONABLY. This tip was great for me when I was first starting to take saving seriously!

Tax. Free. Savings. Account. Let me tell you,

if this type of account did not exist, your girl probably would of spent off all of her savings by now. The Tax Free Savings account accrues interest on the money deposited into the account, in other words, your money is literally making money, just by sitting in there. My favourite feature of this account is that I can deposit money into the account on my own, but if I want to transfer money OUT of the account, I MUST go to the bank. I literally hate going to the bank so this is great for me. Cause ain't no one have time to be waiting in line at a bank. What was that? Sorry, I couldn't hear you, over all the money I'm saving.

Okay I'm about to say some bad words... AUTO WITHDRAWAL. Every pay day, my bank takes a fixed amount from my main account and deposits it into my locked savings accounts. I mean like 12:01 AM, the money is gone guys. Couldn't stop it, even if I wanted to. This makes saving even easier for me, it's automatic and it occurs regularly. Catch me wrapped up in my blanket, sleeping, while I save money for my future. Ya love to see it.

I follow a financial blogger on insta, @powerof3s, I love this because she drops financial gems biweekly, as well as, talks about her own financial journey. The person behind the blog is around my age, which makes the content much more relatable, because I feel like what she's talking about is actually attainable. You know what I mean? Plus, I'm already on insta anyway, so might as well learn how save some dollas. Win. Win. The founder of Power of 3s is a woman AND she's black, so I automatically stan. *insert raised hands emoji*

The last thing I have to share is, putting a responsibility on each dollar you are NOT saving. This much for bills, this much for food, transportation, travel, days for when you want to carelessly spend your money. When each dollar has a role, it makes it easier to make sure you don't withdraw any money from your savings.

Here's to good days, and hefty savings accounts.


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