Before I start babbling on about what inspires me, I must first define what inspiration is. Ask yourself, “what is the definition of inspiration?”, what does it mean?
“Something that makes someone want to do something or that gives someone an idea about what to do or create; a force or influence that inspires one” – (Source) http://www.merriam-webster.com/dictionary/inspiration
What am I inspired to do right now?
This months biggest inspiration or goal is to start saving money or ‘investing in my future’ if you like.
Currently being 17 years old, my future does seem a little bit far away yet and I should probably be ‘living in the moment’ however, I am not that type of girl. I’ve always though ahead and worried about what will happen in times to come. It’s only recently that I decided to stop worrying and start doing. If you read this post and remember anything, that is what I want you to remember. Stop worrying, start doing.
What inspired me to do this?
You know when your out an about and you see a realllllyyyy fancy house that sort of screams ‘I’m rich’.
That is exactly what has inspired me to start saving up for my future. Working in Logistics, quite often I will get to go out with the drivers and I get to see all sorts of places. As a kid, I never really travelled anywhere, in fact it was only earlier this year that I went abroad for the first time. Before now I had only ever seen the typical council houses and because I come from a ‘tight with money’ background, I never really imagined that I could actually have these types of things when I’m older. But then I thought, If you want something you have to work for it.
What steps have I taken?
Because I am currently only an apprentice on an apprenticeship wage, I don’t have thousands coming into my bank account each month. I know, obviously, this will change on day but I feel like the sooner I start saving, the more money I will have.
So far I have worked out a monthly budget for all of my expenses and I have worked out how to get that down to a minimal. As it works out, I actually have some ‘free money’ left once everything is paid for. Now all I have to do is stick to the budget. (I will keep you updated along the way!)
The Envelope System
I have been reading up on the envelope system quite alot lately and i think it is a useful method for organising and categorising your money. The envelope system works by putting a set amount into each envelop for each category and then only spending what you have in that envelope for that category. When the envelope is empty, you have to stop spending money in that category. I plan to use this method extensively and then whatever is left in the envelopes at the end of the month will go into my savings.
Spare Change Sorting
I will quite regularly have a few coins here and there left at the end of the month. I have no decided to split these up into each value and put them into jars. When a particular value reaches £100 I will put it into the bank and split it between my 4 savings goals. I will do the same with any money I have left in my main bank account when I next get paid. It all adds up in the end.
Spare money or gift money
In October, my wage will increase to £3.30 an hour due to governmental changes. I already know that I can live without this money, therefore I have already decided that I will take the difference between the new amount and what I currently get paid and put it into a separate bank account. Furthermore, because my birthday and Christmas are coming up and my family normally gives me money, I will be adding this to this account instead of impulse buying.
Other points I would like to make
I currently have 4 particular savings goals, however these may change over time.
Occasionally, I do plan to treat myself because you should always reward yourself. I know this may be hard at first and I am bound to overspend but I will not dwell on this, I will simply aim higher and work harder to accomplish my goals.
So then, what do you think? Do you have any particular savings goals? Do you have any methods you could recommend? Get in touch with me! Feel free to comment below because i’d love to hear from you all.
Speak soon my lovelys xo