How to stay strong?

[peterj]

Hello all, i have a story about my finance history i want to share and get advice. I started work at the age of 17, i am now 22. I am now a student nurse, but previous was a manager of a music store for a few years after being promoted. I love spending time with mates and going on small trips so therefore i never saved any money. Currently i have around 5 thousand saved as an EF. I am waiting for my next course to begin and because i am trying to curve my habits i am staying at home and only going out on weekends. I get angry at myself for not saving. I think that i could get an investment property if i had saved or i could go out and buy myself a few computer because i would have had so much saved already, it kinda gets me down. I know i will have a decent future as nursing is a broad profession, but how do i stay strong and focus that i need to save my money and that things like a new computer need to wait? ps i still live at home.

[ScrimpAndSave]

Hi! My advice is to PAY YOURSELF FIRST!

Like you, I still live at home. I do pay my dad $400 in rent each month...so what I do is, I have a certain amount ($1000) deducted from my paycheck and sent to my ING account...I don't see the money and I don't spend it. I also have another $200 deducted automatically into another account so I always have it ready to pay for rent.

[techguru]

Take an inventory of the things you buy and how they make you feel over a long period. Are the feelings long? or short-lived? Don't let material "things" govern your life or emotions.

[myrdale]

I would suggest making a written budget. Start with your average monthly income at the top of the page. Then list all of your expenses. Things like gas, insurance, tuition, basic living expenses. Set aside a portion of what is left for blow money. This will be the going to the movies, or a trip fund, or what ever. Everything else is what you have available for savings.

Now how to stay strong? I have a white board in my office with notes, todo lists, phone numbers etc written on it. And in big bold numbers across the center: $77,682. That is how much I have left to go on the mortgage. Every month I write a check and knock a few more dollars off of that white board. Anytime something comes up that I could blow my money on, I stop and think which would be more rewarding for me: the purchase or paying off the house that much sooner.

Find some way of materializing your goals. Something you can see, weither it is a number on a board, a picture of the computer (corny as that sounds), or what ever it is that you want. Don't obsess over it, but keep that image in your mind.

[psuicyde king]

Originally Posted by techguru

Don't let material "things" govern your life or emotions.

Ditto on this! I like to buy toys like the next person, but I try to consider those as bonuses. You have to have your priorities in a way that if you lost all your money and toys, that you would still be happy - focus on people other non-material things. Don't let a lack of material things get you down, simply plan ahead (as previously mentioned), and consider anything you can afford as a bonus and a blessing.

Don't fret on the past, instead, count your blessings and position yourself to get more "bonuses" in the future.

[conancare]

Originally Posted by peterj

Hello all, i have a story about my finance history i want to share and get advice. I started work at the age of 17, i am now 22. I am now a student nurse, but previous was a manager of a music store for a few years after being promoted. I love spending time with mates and going on small trips so therefore i never saved any money. Currently i have around 5 thousand saved as an EF. I am waiting for my next course to begin and because i am trying to curve my habits i am staying at home and only going out on weekends. I get angry at myself for not saving. I think that i could get an investment property if i had saved or i could go out and buy myself a few computer because i would have had so much saved already, it kinda gets me down. I know i will have a decent future as nursing is a broad profession, but how do i stay strong and focus that i need to save my money and that things like a new computer need to wait? ps i still live at home.

Hi there,

It good to know that you wanted to make savings so that it will benefit you in future. But If you really want to be strong then you must meet to the people who are really facing financial problems in their life and they lost almost every thing. By watching such people you will get scared and you forget everything except making saving for your future.

Do you think that this advice was useful then please do revert back.

Regards.
Conan

[ea1776]

Don't worry about past mistakes and what-ifs. Focus on the situation you are in now and how to best meet your goals. Stay positive, and be thankful for what you have & the opportunities that lie ahead, not worried about what you don't have.

Best of luck!