A few days ago I got into a little bit of a financial road block. In the sense that I had a random bill from my past pop up on me out of no where and I literally couldn’t do anything about it.
For someone who has been working a fare share of my life, I couldn’t look back into my bank account and make this problem go away. Whyy?? I remember starting out this year and in my book of resolutions I stated boldly “SAVE A LOT OF MONEY”.
I make enough monthly to actually save up and go to Paris or even tour Europe for the whole summer. But at this point I couldn’t find a penny, well, I could find 8$ to my precious little name.
I got upset at myself for a while and decided to check my bank statements, maybe that could clarify things up. Like; I’m an adult I pay bills, maybe that’s why all the money is gone. Unfortunately that was not the case.
I started to realize that all my money was either being eaten or being worn. In a more direct sense I was buying lots and lots of food, and my closet already doubled in size. I thought to myself “but I haven’t gone shopping in forever. How is this even possible??”
It dawned on me that not only do I do lack self discipline, but I am not compelled to save money.(like my mum would say, money come money go). It was sad, I am this grown with no financial back bone.
I decided I needed to do something about it.
The first thing was to get that payment done with. I had to beg dearest mother for that, then advanced to re-invent myself financially. I started by writing down a list of my bills , things that I had to take care of in the nearest future, and how much I would possible have left to save.
The next step was scary for me, simply because it involved going to the bank. (FYI I’m not a huge fan banks). I made it through an appointment with a financial manager who was fairly nice, he advised on re-opening my TFSA (Tax Free Savings Account) which I had recently closed because I didn’t like the idea of not having access to all my money.
I had peace of mind when I re-opened my TFSA due to the logic behind it. Basically, some funds are assigned to leave your account automatically every month or two weeks, this money is then stored for you in a separate account.
In a given scenario where you need to use some money impulsively you would have to wait 3 business days for it to be deposited into your account, before you know it you run out of patience and you don’t need said money anymore.
I decided it was in my best interest to put off shopping for a while. I froze up my credit card literally in my freezer. Each time I reach out for a popsicle I see my beloved card but cannot touch it. If the need arises, it takes a while for the ice to thaw out. How do you say win win ey?
I started doing my grocery shopping with a pre-made list and certain budget from home to avoid compulsive buying. Another huge change I decided to make was eating out which I reduced drastically.
I also invested in my company stocks. I realized it was worth taking the risk(not too much money, they have been doing good so far so *fingers crossed*).
In all honesty it was difficult making all these changes. But it was also a really good feeling knowing I have a safety blanket in case of anything. I am also sure there are lots of other ways that help you save better. If you know any pls feel free to share them.
I do not regret these changes, if anything I am proud of myself.
You never know, this time next year I might be writing you from Paris.