Treat It Like A Bill: Setting Aside Funds to Spoil and Reward You!

Many folks know how financially sound I am. I budget every penny and every dollar. I also am always on the lookout for extra money in the form of discounts and legal side hustles/additional income sources. All that being said, I do try to spoil myself every week. Whether its a movie, buying a new shirt, or even something really inexpensive like a shake from the Cookout, I believe its important and healthy to reward yourself.

Several people work hard and sacrifice valuable time from family, friends, and other things we love. Therefore, occasionally spoiling yourself shows your self-value, self-worth, and gives you gratitude for a job well done.

Now of course I don't mean go bananas, like buy a 60 inch flat screen, or an expensive weekend trip to Miami. Those are nice also. What I mean is something you personally enjoy, but within reason of your personal finances. Simply set aside a few extra dollars for this. Heck budget for it, and treat it like a bill! Your health will thank you later.

Many folks already give 10% of their earnings back to the Lord in the form of tithes. What about budgeting for an additional 10% for yourself? Your choice, night out, dinner at your favorite restaurant, a new pair of shoes, a massage. You have earned it. 

It's nice when you can gain enough discipline to even get an ice cream cone or a Frosty from the dollar menu, or go bigger and take a road trip. It helps you to unwind, and it will be money well spent. 

Robert T. Kiyosaki actually talks about in "Rich Dad, Poor Dad" about paying yourself first. Consider my advice as similar to that.

What will be your reward for what you've accomplished? Any accomplishment, big or small, should be celebrated. It can be simple. We do only have one life.

Published with Blogger-droid v2.0.1

Financial tips Part 1 from the self proclaimed economically sound brotha

Being that I'm a financial person as well as a numbers person, I feel inclined to give some financial tips that have helped me over the years. I've been living on a tight budget since well before the recession. Now I'm taking it to the next level by getting into couponing more. 11 is one of my favorite numbers so here are 11 quick financial tips I have learned over the years.

- Drive on regular roads whenever possible, and try not to speed to save on gas.

When you go at blazing speeds, (60 mph or higher) you tend to burn more gas. This is because your engine is working harder to go faster and thus burning gas at a faster rate. Therefore, stick to the scenic routes whenever possible.

- Bring your lunch to work

You would be surprised how much the average person spends on lunch/week. Some folks spend about 60/week, well over 200/month, just on lunch. Bringing your lunch is very practical and economically sound. Whether its bringing leftovers from dinner the night before, or buying cheap lunch meat and bread, you can feed yourself lunch for about $5/week, or even 20/month. Makes sense, doesn't it?

- Try to refrain from running errands on your lunch break

I understand there are times where you only have that 1 hour window to get things done. However, even driving 2 miles every day on your lunch hour can burn gas like a 20 minute road trip, especially with the A/C blasting. Try to keep the car parked at lunch. Better yet, carpool.

- Don't shop or eat out unless its a sale or a special

I feel buying nice things and eating at nice restaurants is a treat. However, waiting for a sale or a special makes it all the more sweeter, as you save money in your pocket.

-80/10/10

Use this basic ratio when budgeting. Use 80% of your check for miscellanei, 10% on your tithes, and the other 10% on saving. The Lord must be paid first, then save some money, then use the other 80 to help out with other various expenses.

- Layaway

As mentioned in an earlier blog, layaway can be awesome. Don't turn your nose up at the idea.

- Coupon, coupon, COUPON!!!

Couponing has become more popular with the recent TLC show Extreme Couponing. Now most folks wanna do it. However, give it a try, use your Sunday papers and various couponing websites. Also, find out which stores double and match coupons.

- Buy wholesale

You have Sams Club, Costco, and the unsung BJs. Wholesale ( buying in bulk) is especially effective when you have a large family and your grocery bill is in the 100s every week. Membership to these stores is a low yearly fee, and can be well worth your while.

- Let go of the SUV

Sure its great for family vacations and the like. But that gas bill will kill ya. Try downgrading to a sedan or a compact. Think about it, theres a reason Hummer was discontinued last year.

- Unplug anything at night you don't use or need.

A woman on the Oprah show did this years ago and it worked. I decided to try it and its very true. The electric company will charge you if you have an outlet occupied. So why have something unplugged that you do not need.

- Give up that Starbucks

I also previously blogged on this. You can make coffee cheaper at your home, and you don't even need a coffee maker.

This blog is definitely incomplete. These are simply some quick tips that have helped me save money during tough times.

Stay tuned for more!

Published with Blogger-droid v1.6.8