Saving Hack - The 30-30-30-10 Rule

If I am being brutally honest, saving has never been my thing until recently. When I say recently, I mean three to four years ago. I wasn't one of those kids who wanted to save. I love spending. If I get money, I am buying something immediately. I was an impulse buyer. I think what changed was being an Adult. I knew for a fact that there would come a time when I wouldn’t have to receive the monthly allowance from my dad and I would need to start having my own money. So I started saving because I don't like being broke. I love the idea of having money in my account even if I can’t spend it because it’s still mine and safely saved.

How do you save your money?
I save from any money I get, not just my salary which I receive at the end of the month. I think Adulthood comes with a lot of responsibilities and most times if we try solving everything we’d end up not saving at all. When it comes to the way I save, I try to be disciplined, by trying not to touch my savings.

I do 30-30-30-10 Saving method, 30% for Savings, 30% for Investments(Long-term wealth), 30% for Expenses, and 10% for my tithe. Some people could be saving for a rainy day and then it just starts raining the next day. It’s really not easy to save money as an adult.

Saving from my salary is easy because, before I receive it, I write out my expenses in a journal but I ensure that number one on my list is my savings. I use my Piggyvest app for saving and most times I lock my savings to ensure that I do not break it. I’ve learned that some things feel like emergencies in the moment, but after a few hours, they’re not worth touching my savings for.

Aside from my piggyvest app which I use for saving basically as long term, I also joined monthly contribution groups with people, where we get to save a certain amount of money together every month, and when you fail to pay yours or you pay late, there’s a fine of extra money, I use these to solve annual expenditures.

To ensure that I am able to keep up with my savings goals, I try to avoid spending on less important things. These days I place my wants/needs on a scale of preference to know which one is more important to me. This way, I get to save more and still get some important things in my life done.

Currently, I am saving for some personal stuff that I hope to achieve this year, maybe saving to buy an island hehe.. But most of my savings are basically long-term investments, with plans of long term goals.

This is my entry to Indiaunited contest

_{All images used are mine except otherwise stated}

Thanks for stopping by💕
Cheers 🥂
Lots of Love Beeeee