How long have you been working in that company? In that span of time how much have you earned? The next question is. Have you set aside at least 10% of that amount? If yes, then congratulations you have made the first step. Creating the habit of saving before spending. But if the answer is no then you really need help. Usually the conversation with my clients, the first time we meet runs that way.

Sadly, 80% of the people I talk to says no.They have worked for a total of 5–10 years but have not built any buffer fund/emergency fund or saving fund that can make them liquid, despite on working that hard on those long years.

Most of them in particular are those who loves spending on shopping! I’m not just referring shopping for clothes, bags, and shoes but that includes those who loves to shop for food, gadgets, etc.


1. Is it because you spend a lot of time at the mall? If so,

- Avoid going to the mall

- Go with someone who can remind you not to spend

- Pay only using cash

- Keep your credit card in a separate “emergency” wallet

- Come up with a general financial plan

- Come up with a budget and allocate a percentage of your salary to each item

- List your fixed expenses

2. Do you shop when you are “ stressed out”?

When stress comes in usually we cannot think straight and the best solution to that problem is get yourself an accountable partner or a friend who can remind you that you are just in a stress mode and just think of other substitute for shopping. One is yoga, walking, swimming, or other activities that does not require spending money.

3. Do you shop because you have been doing that for years and reckless shopping became a habi

It takes 21 days to make or break a habit. Depends though on how long have you been practicing that habit. I challenge you to create this habit of spending for the next 21 days!

- Consider setting aside money for donations to orgs you support to be able to have a deep sense of fulfilment and create this mindset to earn more, to give more. Start with 10%.

- Set aside 15% for shopping or leisure. You dont have to deprive yourself completely.

- Allot 10% to an emergency fund- end of the yr.

- Put an additional 20% in investments — 1. When planning savings and investments, know your long term goals. Retirement age. Variable Life Insurance is a good option: Pay for 10 yrs and part of it goes to insurance while the other part goes to investment.

Your new money habit must follow this sequence:

Income less: 10%- goes to the church or charity you support

10%- goes to buffer fund/emergency fund

20%- investments or savi

15%- shopping

the rest will go to other expenses.

Cut a photo of why you want to save. It can be a photo of a car, house or dream retirement lifestyle you desire. Live, breathe, and make that dream sooooo real in your mind that it will be so painful not to save at all. Success is a habit and that includes success in managing your finances well.

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