In today's world people are constantly looking for ways to save money. Ninety-nine percent of the time most people if given the option to pay less money for the same item, no matter the discount, would say yes. That's a "no brainer" even for the richest person on Earth. Although we'd say yes, is that typically what we do? Probably not, because there are other factors that guide our spending habits such as our emotions and behavior. Even Jesus said, "For where your treasure is, there your heart will be also."-Matthew 6:21

Picture Provided here (Fer Gregory/shutterstock)

This giving us some insight that our interaction with money is far more complicated than just basic arithmetic. For instance, you may be accustom to paying $0.50 for a piece of your favorite candy from your local grocery store. What if the next day a very nice well mannered child comes to your door selling the same piece of candy for $1.50. Some of us would pay the extra $1.00 without hesitation because we like children, we were impressed by the child's manners, we thought the child was cute, etcetera. If that same child says he's selling the candy for a cause that interests you, you may be more inclined to buy. The reverse is true also. If you are a person who "hates kids" (I hope that's not you lol) your purchase would not be based on who was selling but probably geared toward what they are selling. 

Picture Provided here

In both cases of buying or not buying from the child the math was not much of a factor but rather your perception, spirit, and emotions which are a huge guiding factor in how we decide to save and spend money. From the example above, I hope you agree that behavior has a enormous impact when it comes to handling money. This includes saving money, so here are three questions to ask yourself when it comes to saving:

1. Why Am I Saving Money?

Saving money can be tough when you're saving with no purpose or goal in mind. So before you start saving select your reason for saving. Whether you are saving for an emergency fund, a trip out of the country, a down payment on a home, or to never have the feeling of being broke again. Choose something as your WHY! Without a why, like many things, saving lacks purpose. Pick an amount you want as a goal & show some TENACITY! Get there! You can do it!

2. How Important is Saving Money to Me?

This may seem like a dumb question right? I can assume most of you all think it's very important; is that the truth? If it is, do you have what you want in your savings account? If no, why not? Depending on your answer to "why not?", you may start to realize that saving money is only important to you in theory and not action. This is a good time for some self-reflection to determine your deep feelings and perspective of the importance of saving money.

3. Is this the Right Time to Save Money?

Like most things in life timing is everything. Saving money is no exception to this rule. Sometimes we can get so carried away with the idea of saving that we save at the wrong time. Don't get me wrong you want to have something saved for an emergency, I would suggest at least $1,000 if you are trying to eliminate debt. But if you are saving money at the same time you're attacking debt you are essentially being less efficient! Do each thing one at a time, first put all your energy into saving the $1,000 then move in on the debt. This is an example, the point is don't panic evaluate your situation and prioritize the right time to save. Don't be ashamed to get help!

Share your thoughts on what you ask yourself when it comes to savings in the comment section below.

*For more tips to save money on big purchases check out our post Frugal v.s. Cheap*

If you need financial coaching or help with a budget and would like a consultation email us at: 

foffcoaching@gmail.com

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