…Where Did Everything Go?
Another month passes and you’re left wondering why your net worth hasn’t increased (or even worse decreased). Maybe you’re cutting small expenses here and there, but let’s be real – skipping the $4 coffee doesn’t change anything.
You need to take the extra steps that most people avoid, to save more in simple, yet effective ways. Here are 3 key ways to drive real progress:
3 Magic Steps to Savings
Pay Yourself First
You’ve heard it before, but let me explain what it means: Paying yourself first means shifting part of your income into savings before you even have a chance to spend it (i.e. before paychecks hit your bank account).
For example, if your employer offers a 401(k) or other retirement plan, you can set up automatic deductions that are invested for retirement. By making savings automatic, you essentially "trick" yourself into living on less while building wealth in the process.
If you want to take your budgeting even further, I’m a big fan of the widely popular YNAB Budget App. If interested, click here for a free 34-day trial.
Read your Receipts
Life moves fast. You’re in and out of stores, buying groceries, clothes, or other last-minute items without a second thought. Here’s the issue – most of us don’t realize how much we spend on things that don’t add true value to our lives.
After your next big shopping trip, I challenge you to sit down and look at each item on your receipts. Ask yourself:
Did I really need this?
Is there a cheaper, but similar quality alternative?
Could I wait longer before buying this next time?
Again, the problem often isn’t the occasional small indulgence — it’s the unnoticed big expenses, like $75 spent on fancy cheeses or an extra $100 at Target on “just a few things.” Awareness is key and once you see where your money is going, you’ll naturally start making better decisions.
The 24-Hour Rule (Sleep On It!)
Impulse purchases are one of the biggest budget killers. By following the 24-hour rule you can fix this.
Before making a non-essential purchase, wait until the next day to decide to move forward. More often than not, the urge to buy fades and you’re left with more savings.
This simple habit helps separate wants from needs and prevents unnecessary spending. If you still want it (or need it) after 24 hours, at least you’ve taken the time to make an intentional decision rather than an emotional one.
In Case You Missed It
This is an older video, but still widely applicable. Here are a few moves I follow in my everyday life to continuously boost my net worth:
Financial Freedom Tools
YNAB Budget App: Click here for a free 34-day trial
Discover Checking Account: Earn 1% cash back on debit card purchases
Keep Saving,
Steve | Feasible Creative
“Never spend money before you have it.” - Thomas Jefferson
Disclaimer: The content provided in this newsletter is for informational and educational purposes only. It is not intended to be a substitute for professional financial advice. Please consult with a financial advisor before making any financial decisions.
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