F*** saving money, BUY THOSE SHOES!
Have you ever noticed it's like a billion times easier to give someone advice then take it? I mean really.
Let's try it, shall we? ...... You should be saving money.
Did that work?
Okay, we get it; we should all be saving money! We've heard it a billion times! Blah, blah, blah... boring. Who cares? Why does it matter? Retirement age is like a million years away and worrying about that stuff is for old people. BESIDES!!!! I'd rather spend my last $100 on these super sexy black stilettos! Talk about ROI (return on investment)! I'm going to look SO HOT on my date tonight!
First, I'm not the girl to deny the benefits and joys of a hot pair of shoes! If you LOVE them, Buy them!!!! Who cares about money!
Okay.... I'm half kidding but you knew that, right? Honestly, if you love the shoes, you’re actually going to wear them, and if you've budgeted for them, GO FOR IT! Just make sure there's a line in your budget for "hot shoes” and it’s no where close to your lat $100. It's a MUST, but we’ll save that topic for another day.
Today, we're talking about saving money & WHY you should be doing it.
We all know that just because we SHOULD do something, doesn't mean we will. As the famed Tony Robbin's says," Most of us end up SHOULD-ing all over ourselves." (I'm a big fan BTW! .... Of Tony, NOT of should-ing all over myself.) Gross.
You wanna hear about one of my ‘shoulds’? I'll tell you all about it.
I should wear sunscreen every day and yet, I don't. Nope, nada, maybe once a month? In 10 years my skin is going to shrivel up and fall off my face like a mummy in a horror movie & I'm going to think, "DAMN! If only I had just worn some stupid sunscreen!
Yeah, THAT kind of SHOULD.
Let's make sure your finances don't end up like my future face, eh? 'Cause that shit is scary and completely preventable. Like, silly, stupid, soooo preventable. But yet, soooo easy not to do if you're just lazy or like to pretend it doesn't matter. I mean, "Who needs their face, right?"
... and yet, it's the same story with your finances. I mean, "Who needs to save money, right?"
The answer is EVERYONE. That's who. You, your mom, your dog, your bestie, your besties' bestie. EVERYONE. Except the dog.
But WHY Should I save Money?
1 - It's Easier than you think.
2 - The more you do it, the easier it gets. (I promise!)
3 - Doing it sooner is WAY more important than doing it LATER.
4 - The more you save, the less you have to save.
5 - Empowerment.
6 - Financial Freedom.
What do I mean? Let’s break it down.
(1) It's Easier than you think.
Saving money is EASY, like, take 2 minutes to put on some damn sunscreen' easy!
All you need is a PLAN. A good old fashion plan. Nothing too sophisticated or complex. Track the money that comes in & track the money that comes out. Start there. Simple. Do this for a few months, post it on your fridge, bedroom mirror or in your planner where you'll look at it daily. No voodoo or rocket science. Just start looking daily. We’ll get into the budgeting piece later.
(2) The more you watch your money, the easier it gets.
Remember when restaurants first started putting calories on their menus? Yeah, you do. Meeeee too.
You'd go to your favorite restaurant so excited to order the triple southwest mac n cheese because you'd been dreaming about it all week! Before you could say 'extra side of fries please!', you looked down at the menu and saw a big 'ol heartbreaking 3,500 calories STARING at you. You did a double take and winced and did the most important shorthand math you've done since high school. "Okay, let’s see.... 3,500 of 'totally worth it' calories + 2 glasses of merlot (@ 130 each, Ugh) + 500 for my breakfast muffin + free pizza at lunch (It was free, so calories are free too) - 1 hour on the elliptical – 10 trips of walking down the hall to pee – I’ll skip the fries = (FML!) I'll have the skinny salad please!"
That's what just looking at your money and where it's going daily will do to you. Awareness is a beautiful thing. Respect it & use it to your advantage.
(3) Saving money NOW is WAY more important than saving later.
Speaking of beautiful things, there's a sassy little seductress I'd like you to acquaint yourself with called compound interest. She’s powerful, invokes lust from men and if she’s not working for you, she’s working against you as the ultimate femme fetale. You know the type. She’ll alluring, effortless and leaves everyone wanting more.
That babe is compound interest. Give her a little cash, she’ll take that money and run with it. You want this babe on your team. Trust me.
Let’s say you have $1 and you can save $1 each month. A lucky 7 seductress (7% compound interest) would turn your $361 dollars in $1,235. That’s 4 times what you saved yourself!
$10 a month? You’d have $12,300 instead of $3,600.
$100 a month? You’d have $123,520.
$1,000? You’d have over a MILLION dollars! ($1,235,204).
Sexy, yes? YES! Yes, it is.
(4) The more you save, the less you have to.
Using the lucky 7 (7% interest) rule above, it basically takes 10 years to double your money. 10 years is a bit of time, no doubt. But, considering you’re not doing a damn thing but going on living your life, it's a beautiful thing.
What does this mean? Basically, the sooner you can save money, the more multiplying magic can do it's thing. AND, each time your money is doubled, it’s doubling off the NEW doubled balance. Hell yes!
Let’s break this down. You squirel away $100 a month and by the time you're 25 you have 10k. In 10 years you’ll have 20k! In another 10 years you'll have 40k, then 80k, 160k, 320k, etc... The earlier you start, the more time your month has to keep doubling itself.
And all this glorious doubling? It assumes you never saved another $1 after you reached that 10k. Got it? The more you save, the more your money saves FOR YOU. It’s like babies making grandbabies. Or planting little money seeds and watching them grow! It’s awesome!
This one’s fairly self-explanatory.
Imagine your strut when you have 10k in your bank account. 20k? 100k? Talk about confidence!
It’s called a power strut for a reason.
You work that SASS girl!
The next time you really want to buy those shoes, you can.
The next time you want to meet your friends in Europe? No problem.
Easily & GUILT FREE spending!
(6) Financial Freedom. So you NEVER have to depend on anyone else.
There’s one classic old internet meme that sums this one up.
But just to drive the point home. PSA: Don't let your finances end up like my future face.
Alright Babes! Let's share the Wealth! Until next time...
XOXO - StevieAnn