On The Road To Success by Homer Livez
In order to develop a successful strategy that helps you save money every month, you need to begin by defining your priorities.
Begin by writing down the most important aspects of your life, as well as what you want for your family. Priorities are similar to goals except rather than defining milestones, you simply create an overview of what you are hoping to achieve.
Once you have listed your family priorities, you then determine your goals.
With goals, you are defining a specific amount of money that you'd like to save within a certain time frame. Setting goals is incredibly important, because it keeps you on track while giving you the opportunity to see your progress every step of the way.
Make sure your goals are reasonable ones! You want to set yourself up for success, not failure and so it's important to truly evaluate your income and come up with a reasonable amount you can save each month.
Your goals could also include making future purchases or payments. For example, your goal could be to save 10% of your monthly income for a child's college fund.
Limit your goals to 2-3 per priority. You want to maintain focus and be able to stay on track without feeling overwhelmed.
Once you have determined your priorities and goals, it's time to work towards reaching them! Your entire family will need to get involved in this, so it's time to have a family meeting where you discuss the benefits of setting goals and budgeting as a family, highlighting the rewards so that your family is focused on the same goals that you are.
Track your progress, communicate with your family every step of the way, and maintain a system that allows you to quickly monitor your progress (and success!)
Make it easy for your family to save more money by always being on the lookout for ways of reducing your spending without sacrificing the most important things in your life.
Consider the frequency in which your family eats out, examine your commute for more efficient driving, pay larger bills in portions throughout the month, rather than all at once, and shop based on weekly specials.
Once you get into the habit of making more conscious decisions about your spending, you'll find it easier to save more money than ever before.
Best of success!