21 Suggestions for Success

I came across this link on pinterest.  Its 21 suggestions for success.  As I was reading these 21 suggestions I thought to myself, this could be used in all aspects of life, including my own personal finances.  So take a quick look at the website and reflect on how each suggestion can be used in your own financial path or any other aspect of your life.

Suggestion number nine, in my opinion, applies most to this blog so I decided to discuss it further:

Discipline yourself to save money on even the most modest salary.

Now I know this can be very hard to do, especially when you are living paycheck to paycheck.  But saving money is such a crucial part of becoming financially secure.  If you don't make the sacrifice to save, even just a little bit, every month, then you will never reach the point where you can feel financially secure.

Having money in a savings account means you are prepared for the unexpected.  If your car unexpectedly breaks down you have the money to fix it.  If you get laid off from your job, a very common problem, then, if you have prepared and saved money, you can rest easy knowing the bills will get paid until you find another job.  Saving money can save you from a lot of stress later down the road.

Now I will admit, if I lost my job tomorrow, I would be in trouble.  I have some savings, but not nearly enough to cover the bills.  My savings account is at $1100.  This is enough money to prepare for minor unexpected circumstances, like the car breaking down, ect.  But by no means am I prepared for being unemployed!

I put away $50 a month into my savings.  $25 is directly deposited into the savings account every other friday, on pay day.  This way I don't even think about it.  The money is put into the savings account without me even noticing it.  So, every other Friday, when I look to see my paycheck, the money isn't even factored into the budget because it's already taken out and put into the savings.

Once our debt is paid off, I plan to start saving more.  My goal is to eventually have enough money saved to cover our expenses for 6 months.  That way if something happens, and one of us loses our job, then we will still be able to pay our bills until a new job is found.

So what do you think?  Did you find these suggestions helpful?  Which one speaks most to you and your financial future?