How to stop dipping into your savings. Changing your mindset. Customized Savings.
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If you’re one of my loyal subscribers, it’s no secret now that my family is on the yellow brick road to home ownership, but before going all in, it was important to first tackle a few other things along the way. The most important thing you can do for yourself as an adult, or just someone out here pretending to adult, is to save an emergency fund for a rainy day. This comes in handy not only for someone in the market for a home, but for anyone. After all, no one in the world is exempt from unexpected emergencies.
It always seems that everyone’s biggest hurdle is either starting a savings, consistently saving, or remembering that your savings isn’t for that new pair of shoes. Savings is for saving, and not touching until you’ve reached your goal, or until absolutely necessary.
We had to first change our mindset and remember to pay ourselves first. Treat your savings as if it’s equally as important as any of your other bills, because after all, it is! It quickly became mandatory for us to save every week, because having that cushion for “what ifs” was just as important as keeping our lights on.
I’ve saved large lumpsums before, but simply moving money from my checking to my savings wasn’t hard enough to access. Like many others, I was finding myself constantly transferring money back and forth. I was saving, but just as quickly as I was saving, I was spending. This go around I opted for trying out an app like Qapital to save and control my savings.
If you try it out today with my referral code you’ll be able to receive $5 FREE towards your first savings goal. Check it out here.
Qapital is an easy to use app that transfers money from your bank account to a separate Qapital savings account. It’s been very easy to use so far, and I’m able to keep “rules” set so that I can save as little or as much as I want to. I’ve been able to cash out on two of my savings goals and the process was also very quick and easy to have my money returned to me.
My current favorites are the “round up” rule that saves the change every time I swipe my card for purchases, and the “set it and forget it” option that sets up daily, weekly, or monthly deposits to my Qapital savings account.
Along with these rules there are various options for savings that you can choose from.
• Saving a percentage of your check
For saving percentages of your check weekly or biweekly. There’s even an option for adjustment based on the total of your check.
• A guilty pleasure rule
For making a payment to your savings whenever you buy a guilty pleasure that you’re trying to resist.
• Spend less rule
Where you set a budget for yourself, come in under budget (Hopefully), and the Qapital app automatically saves the difference.
• Freelancer rule
Where you’re able to tuck away the required 30% every payday, so that you’re prepared for Tax Day.
• 52 week challenge rule
The Qapital app automatically saves the weekly requirements to complete the 52 week challenge for savings.
And other customizable rules.
With the use of this app I was able to see my savings grow while I essentially did what I was normally doing. Before I knew it, it was telling me that I had reached 50% of my $1000 savings goal, and after that it became addicting for me to check it every week, and add whatever extra money I could. We are now working on our 3 month reserves goal, and our 6 month reserves soon after!