I love to talk about money! I'm the girl who tracks how much she has in her account by keeping a weekly, sometimes daily, eye on her finances. That wasn't always the case and it definitely doesn't mean I'm perfect at it. I'm significantly better than I was a year ago and I'm always striving to be in a place of financial independence. With a more steady source of income and a lot of learning experiences I can say I'm trending in the right direction. One key reason for that is saving. For the first time in my life I've was able to save a 3-month emergency savings and pay off my credit card debts. Two major feats that I'm incredibly proud of. I'm looking forward to tackling my student loans and saving for travels and eventually investing. On today's post I've shared the 5 guidelines that I used to make this possible. Let me know what you think or any other advice you have in the comments below.  

  1. Prayer 
    Paul reminds us of the most important step before we embark on any new journey is to pray. He tells us not to be anxious about what’s ahead but choose to pray. In every situation with gratitude we should pray for guidance, reassurance, persistent, and whatever it is we need at the moment, pray for it. Maybe saving hasn’t been your thing. You haven’t been able to put aside the necessary funds and you’re feeling overwhelmed. You may feel like you just don’t have enough to save. Whatever hesitation you feel at this moment I implore you to give it to the Lord. Pray and have faith that He’ll show you a way.  

  2. Set a goal 
    This is the obvious next step and it should be completed intentionally.  Meaning you're not randomly selecting a  figure or a  goal. For example, saving for a trip. Have a destination in mind and know your reasons for choosing that location. Create an itinerary, even if this trip is a year from today. What this does is allow you to calculate a proper estimation of total cost. And always make sure that you add at least an additional amount for surprises.  

  3. Track it weekly 
    Develop a method to record your weekly progress. This serves two purposes, first as motivation and second as knowledge of your saving status. There are many ways to do this. A simple notebook designated for your finances, a note on your phone, or an app just for that purpose. It's very important that you schedule a weekly date to track your progress, that time should also be used for other financial planning. I typically do this on Sunday as I map out the upcoming week. It also gives me an opportunity to consciously reflect and realign myself if necessary.  

  4. Use an app 
    This might be the main reason saving has been easier for me this past year than before. There are several options in the market and most are free of charge with no fees. I use Qapital, it's simple and I love that I can add images for each goal, it was an added motivational feature. Other popular options are Digit and Penny, but once you start searching you'll discover a variety and finding one that works for you is just a matter of personal preference. The key is to use it often, it should motivate you to reach the goal and more.  

  5. Have a wealth mindset 
    Possibly the second most important step to prayer is the belief that you will succeed. It starts with a vision of yourself as a saver. What does that look like? How do you feel? See it and believe it. Then act accordingly within your control. For example, cut spending where you can. That means saying no to a lot of things, things you really like. It’s really hard, but think instead of what you gain by saying no; you’re saying yes to financial stability.  

I'd love to know more about how you cultivate financial stability so please leave a comment below sharing your experience, thoughts, or suggestions. 

Your Always and Faithfully,