One of the best ways to make money is to save money. So, your task for Day 4 of the 28 Days of Abundant Practice is to check your bank account for saving opportunities.
When I was living in London and earning a very good income as a consultant, I found that I’d increase my spending on things I didn’t need. Now, there’s nothing wrong with that at all, IF other things like a savings account for my son was taken care of (it wasn’t).
I looked at my spending and realised that I was buying a grande caramel macchiato from Starbucks on a morning so that I could drink it at my desk, and I’d buy another one at lunchtime. They used to cost about £3 back then.
[click_to_tweet tweet=”I looked at my spending and realised that I was buying a grande caramel macchiato from Starbucks on a morning so that I could drink it at my desk, and I’d buy another one at lunchtime. They used to cost about £3 back then.” quote=”I looked at my spending and realised that I was buying a grande caramel macchiato from Starbucks on a morning so that I could drink it at my desk, and I’d buy another one at lunchtime. They used to cost about £3 back then.” theme=”style1″]
So, let’s do a bit of quick maths:
I was spending £6 each day on coffee, five times each week = £30 a week. That was roughly £120 a month on coffee. So, about £1440 on coffee each year? REALLY???? I wasn’t even thinking of putting that amount aside for my son’s savings account (I only had one son back then, I have four now). That didn’t make any sense at all! So I was literally flushing my son’s money down the toilet.
I’m not saying don’t have the odd Starbucks, but just see if there’s anything that you’re spending with others that you could be investing in yourself and your family.
How about you? When you look at your spending for the last month, what do you see?
Do you see money being spent where it could be saved? Are there gaps in your financial plans that need to be filled? Are you saving for a mortgage deposit/car/holiday/investments, etc? Where could you find the money from your current spending to add to those savings over the next few months or years? Tell us below.
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This post and the 28 Day Abundant Practice Challenge are inspired by the principles in the 9 Steps to True Abundance infographic. You can get your free copy by signing up here.
