HOW TO CREATE DISCIPLINE IN SAVING MONEY FOR SINGLE BREADWINNERS

As a licensed financial consultant, I have encountered common issues why most people cannot persistently save, they start for several months or even a year, then withdraw everything, when emergencies such as a “sale” in the mall or a seductive travel get away presents itself. Why am I writing specifically for single people? or specifically single breadwinners? The reason is that, most of the time they are the ones who are guilty of such problem. I very well understand, that duties and responsibilities tends to get bigger and overwhelming when you’re raising a family of your own already, although its not an excuse not to save but it becomes more challenging, thats the very reason why the best time to start building a good investment portfolio is, when you’re single.

But most singles would ask, Is that actually possible? Can a single person actually be successful in building a good investment portfolio while being a breadwinner? The answer is, a BIG GIANT YES. How? Using the system, myself for more than 10 years now, you too can try these ideas yourself:

1. WRITING DOWN YOUR EXPENSES.

With me is a handy notebook, where I take note of every single centavo that comes in and out of my pocket, which I transfer in my computer at the end of the month. Through this practice, I get to monitor my expenses, also,I get to see where I can adjust so that I can keep and save more of what I earned.

When you write down your expenses, you will learn about your spending habits, and that is where, you get to start. You tell yourself that, its not you, its just your habits, that keeps you from succeeding in this area.

2. START SMALL.

If you have never saved money religiously that lasted for 6 months in your 20–30 years of existence, its quite impossible in your mind to jump right away in saving 20% of your income every pay day, so you can start small, like start setting aside lose change at the end of every day. Do that for the next 30 days and just improve as you go.

I started this practice back when I was in my teens but discovered a much better approach, every time I put in change on my piggy bank, I say an affirmation that says: I ALWAYS HAVE MONEY! Add feelings of excitement when you do this, because each time you do, you are actually creating that reality.

3. CREATE A CLEAR PICTURE OF YOUR SHORT and LONG TERM FINANCIAL GOALS.

It will be easy to get side tracked by daily expenses and sudden expenses that comes along, if you don’t have a clear purpose as to why you are saving money. Your vision of your goals, will be your road map to where you want to be financially 5–10 years from now.

It also pays to create a project for a certain saving account and not put everything together. For instance, my project for this savings is for house and lot. Next question, when do you intend to buy that house and lot? When do you need the money?This is important, because that will help you know which money instrument to place your money.

You may say: But I don’t have that much to be thinking that way. Remember, the Chinese proverb that says: A thousand miles begins with one step. Start with a vision, then act on it. It may be a small step but everything starts with small.

4. TITHE.

There were a lot of times in my life, that I only have a few coins in my wallet and thats about it, getting in and out of a job and not actually finding my passion and monetize on what truly makes me feel alive. Perhaps, many of you can also relate to that experience too. Let me tell you now, that nothing remains permanent, and wherever you are at this point of your life, know that , you can get to wherever you want to be. You just have to keep the Faith.

When I was at my lowest point in my financial life, I learned about something so valuable. I learned about the lives of those people, who acknowledges the Faithfulness of God by giving 10% of their gross income, every single month to organization,church, or wherever they get spiritual nourishment. These people are the happiest. These people are those who have living testimonies of miracles taking place in their financial lives and other areas of life.

You may heard about tithing or this was the first time you heard about this. For those who are not familiar with Tithes. According to the old testament, tithe means 10%. You give a minimum of 10% of your gross income to any church or organization you get spiritual nourishment. Then again, its not the act that creates the miracles, but its the “ feeling” when you give. Its the feeling of joy, unconditional love, and cheerfulness that emanates your heart when you give.

The first time I did tithing, the 10% of my money is PHP 10.00, but what miracle took place? God blessed me with ideas how to start, that I may actually live what I am passionate about and where I am good at and be rewarded by it financially, while giving value to other peoples lives, and thats where I discovered my passion in coaching. A financial coach to be exact.

5. SURROUND YOURSELF WITH PEOPLE WHO ALREADY ACHIEVED WHAT YOU WANT.

Studies show that you become the average of the five people you spend most of your time with. Imagine, hanging out with somebody who eats out in fancy restaurants almost every day using the deadly weapon, his “credit card”, spending more than what he earns spending more and saves nothing at all. What if you spend most of your time with five of such spender? What happens? Automatically, your mind will conform to such habits as “ normal” and without much thought, you are already practicing it. When I became conscious of this, I then started listening to my mom, who taught me most of the ideas that Im sharing now. I started creating strong habits of saving and when as I got better on this, I noticed how my income started to grow as well. Indeed its true, that our income will only grow to the extent that we do. Thats when I started carefully choosing the people I hang out with and attracted to myself like minded friends, who became accountable partners as well, who wont allow me to get away with my commitment. The commitment to stick on my habit to save, to achieve financial independence.

My advocacy, my mission, my life’s purpose is to create a mindset of abundance and financial freedom specifically among single breadwinners around the world by coaching them how to create the necessary habits to reach the goal of financial independence and financial freedom. If you are very much ready, to walk in this new journey, I will be very much thrilled to walk with you in this path. I can be your accountable partner and your financial coach because this what I was born to live. When you’re ready, you can reach me in facebook or just e mail me at kris.mgarin@gmail.com. Live strong every one!

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