Savings: The 4 Steps I Used to Save Enough to Quit My Job

The world of money is NOT a “one size fits all.”

I frequently get asked, “How do I save more money?”

Traditional advice suggests to save a certain percent of your income…Borrring!! and not realistic for you.

Savings goals should be based on what you want for YOUR life. That doesn’t always look like “save 10% of your income.”

When I made the decision to leave my job and start this business, (where I now make my own schedule, work with AMAZING women, travel several times a year, and feel so much joy!) these are the steps I used.

I’m proof of how well it works.

1. Why do you want to save?

Are you saving in case of an opportunity (let’s get rid of the word “emergency”)?

An opportunity to fix your car, explore unemployment, or pay medical bills that have healed your body?

How much do you actually need for each of these scenarios? Write it out.

If you lost your job, how much would you need to live for at least 6 months? How much is your health insurance deductible or a typical car repair?

Are you saving for a sexy vacation with your partner?

 

 

 

 

 

 

 

 

 

Where do you want to go and for how long? How much will your trip cost? Do you want multiple trips per year or just one big one?

Are you saving for a down payment on a beautiful home in the suburbs to raise your family?

How much can you afford?

Do your research. Look for homes in your price range.

How much will you need for a down payment?

2. Pick a time

How soon do you want to go on vacation, quit your 9-5, or move into that new home?

How much do you need to save per month to reach that goal within your time frame?

3. Make it automatic

Once you come up with your goal amount, have it automatically transferred into your savings account either bi-weekly or monthly.

Online banking makes it so easy to do this so you never have to think about it.

4. Get excited!

Set an intention and create a vision.

Find pictures of a couple walking on a beach, children running around a backyard, or people dancing at a wedding reception.

Picture yourself relaxed on a balcony overlooking the ocean or soaking in a huge tub in your new master bathroom.

Before I resigned from my job, I would put on my uniform everyday and picture myself relaxed, stress free in a beautiful home office. Now I’m here!

Setting an intention and creating a vision will keep you from taking from your savings account anytime you need money.

Doesn’t this make saving sound fun?!

When I made the decision to leave my job, this is exactly what I did.  I figured out how much it would take to live for a full year without any income. I then looked at how much I could save a month while paying a mortgage, taking care of family, and still living my amazing life.

When I set this intention, it became SO easy to save. I loved watching my bank account climb knowing that soon I could leave my job and do what I love.

Finding a purpose for your savings increases the likelihood that you’re going to follow through and achieve your savings goal.

What are some fun things you want to save for? Does this make saving feel like more fun? Share in the comments. I love to hear from you!

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