So I was in the shower, pondering life’s mysteries and throwing out some comebacks to my school bullies 4 years too late, when I began to start thinking about the positive changes I’ve made financially. They saved my ass a couple of times, and so I wanted to share.
I. The saving accounts.
- Get a saving account with interest. Period. I use Discover for a cashback debit and a savings account. Shop around for one that best suits you.
- Some people still don’t know you can have more than one dedicated savings account. If you don’t know, now you know. You can get creative with these hoes, too. I had one dedicated to 3x rent, utilities, and groceries. I say have a minimum of 2x, but if you can add more, add more.
- I had another one dedicated to emergencies. I have $4.5k in there. This covers car problems, anything my insurance doesn’t cover, hotels, food… you get the idea. Much like everything else, your goal will and should depend on your financial situation. Again, add more if you can. Always.
- If you can, have a “fun times” account. I, at my core, am a materialistic motherfucker. I love watches, cars, clothes…everything. But, I refrain from living like one, because I’ve developed discipline over the years. However, I’m also in a position where I can throw in money into a more “flexible” account like this, so I do. This gets last priority. If I have any money left after R/U/G and my emergency account, then I’ll throw it in this guy.
II. The talk.
You know you. And sometimes, you just have to get real with yourself.
When I see that Lego set, I’m telling myself “you lazy motherfucker, you’re not going to spend your time building that.”
And when I see that beautiful Solar G Shock that can be submerged for 17 years at 50000 meters, I think “but when’s the last time you actually went outside?”
Think things over. Find reviews. Imagine yourself using it. Then repeat the process. I sit on purchases for MONTHS sometimes before actually going through with the purchase. Sometimes, by the time I’m ready to buy whatever it is, there’s a nice discount on it. Other times, they raise the price and I just repeat the process again. It happens.
III. Eating out is your enemy.
As I grow older, I find that most of that “fun time” money is going towards eating out. The money is fair game, so financially, it’s fine. But mentally? Imagine the toll. Postmates and GrubHub are cancer. It’s convienent. Too convienent. And the additional fees are outrageous.
Do yourself a favour. Go to the grocery store more often. Buy shit you’ll actually want to eat. Buy what you crave. Live a little. Remember, it’s fun money. Not grocery money. $20 of food from the store would have satisfied me more than $20 of delivery fees from Postmates.
And that’s it. Budgeting can suck at first and can be hard depending on what your situation is. I just wanted to share some points and tips that might help the average guy out.