Results. We all like to see the results of whatever initiative we embark. Whether we’re trying to lose weight or acing an exam. Whatever we embark on, there will be some form of results. Those results could be good or bad – depending on how much effort we put into our goals.
September has come and gone and I have some results to show for my savings challenge. This is an overview of how much I spent in August and September on dining out, one area I’ve been trying to cut back on.
Dining out in August took about 80% of my expenditure for the month. How much did I earn in August? Not much seeing as I don’t have a full-time salaried job.
In September, this is what happened:
Drastic fall isn’t it? Nowadays, I come home for lunch and ask myself ‘Do I need that?’ when I’m tempted to spend. This has really worked for me.
I did some work for an organization in September and I gave them my savings account to credit straight away. It reduced the risk of spending it as it wasn’t deposited into my current account. You know how it is sometimes, right? Your salary or some form of payment hits your account and you go to the bank to withdraw, thinking that you’ll save 20% of it. But, somehow, an impulse buying thought creeps into your head – shopping time – and you find yourself saving less than you thought.
I am currently saving towards my wedding, so any amount (whether 50 or 200 cedis) goes straight into my savings account. I have also created a standing order from my current account into a money fund account.
You need the right mindset to save. That for me is the first step towards improving your savings habits. Do you party every night with your friends? Are you living beyond your means? These are hard questions you need to ask yourself if you have big plans for your future.
One day at a time, I am slowing working towards having a richer savings lifestyle and I believe you can too.
This is the fourth article in a series of sponsored posts for the Barclays Savings Challenge. Follow the discussion on Twitter and Facebook and share your own experience by using #AfricaSaves.
Visit the Barclays website for more information about their savings account. CLICK HERE