5 tips to save money and grow confidence

What does saving money have to do with a photography blog?

Growing CONFIDENCE affects every area of your life.

Growing your own independent wealth could be the decision maker for treating yourself to a luxury photo experience. After all, you deserve it, and you earned it!

My WORD for this year is EMPOWERED. “Having the knowledge, confidence, means or ability to do things or make decisions for oneself”…somewhere on the internet.

Very little screams “I am empowered” more than financial independence.

Here are 5 steps that I do regularly, if not daily to ensure I am moving forward with my financial independence. These steps have helped my bank account grow and also my confidence. By no means am I a financial expert or sleeping with $100 bills in my pillow case, but I’m happy with the effort and rewards I have made in the last 10+ years.

1. LOOK at your account balances

How will you know if your account balance is growing if you don’t check it. Regularly. Keep track of your monthly balances, and if you are super keen on watching it grow, make a note of your balance every payday. You will naturally want to see it continuing to grow and may curb your spending to ensure you see growth every couple of weeks. It’s a funny thing, but I truly believe what you pay close attention to will naturally do what you want it to. In this case…grow.

2. READ up on how to build wealth

A few years ago, my birthday book to me from me was…Get Rich, Lucky Bitch by Denise Duffield-Thomas. I have read it a few times since. I follow her on IG and am on her email list. She identifies your spending habits and your relationship with money and helps to guide you on making good decisions.

Another book I read that I enjoyed is You are a Badass at Making Money by Jen Sincero. I loved her original book You are a Badass too. Again, where you put your energy, I believe, will come back to you favourably.

3. NEVER pay full price for cheese

Is there something you buy/eat regularly? Can it be stored in the freezer? If so…stock up when it’s on sale. Cheese is a perfect example for me. I like cheese on everything (don’t judge me). Bricks of cheese freeze perfectly. Most times, if it thaws slowly in the fridge it can be cut into slices perfectly. If you thaw it on the counter for a quicker thaw, it might crumble a little, but I typically throw it in the food processor to grate it up anyway. I refuse to pay $8-$9 for a brick when it goes on sale for $4.50 often. Same for toilet paper, coffee/tea and soup. Basic items that don’t spoil, watch for sales and stock up. It’s a small habit that can really help your bank account grow (or at least not deplete as quickly).

4. REWARD yourself at milestones

Creating financial independence doesn’t mean never treating yourself. If anything, I would recommend ensuring you treat yourself, WHEN you hit milestones. The milestone for you will look different than mine. Only you can be the gatekeeper for when the reward is warranted and how much should the reward set you back. If you never treat yourself you will start to resent your growing bank account and that’s totally not the goal.

My favourite reward was, and still is, what I call the Manicure Milestone. The reward that lasts 4-5 weeks. I love looking down at my nails multiple times a day and seeing them look pretty. It’s a pretty inexpensive reward if you think about the amount spent vs the number of times I check them out every day for 4-5 weeks.

5. INVEST (if you can)

This one won’t be for everyone, especially if you are just starting your journey to financial independence. It could be a great goal or a milestone once the time comes that you are able to add a little extra into an investment portfolio. There is risk and reward to investing, and it’s not for everyone. It is pretty fun and can be very exciting. I say that, but it can also be gut wrenching when the stock market takes a dive. Be prepared for the stock market rollercoaster and only make investments that are in alignment with your risk tolerance.

If you are just starting your journey of financial independence, I wish you the best of luck. I promise you, if you want it bad enough you will find a way to make it happen. Make good choices and watch your balances like a hawk.

If you have other suggestions on how to grow your accounts, don’t be shy to comment below. #sharingiscaring

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