{"id":1037,"date":"2019-04-29T01:49:18","date_gmt":"2019-04-29T05:49:18","guid":{"rendered":"https:\/\/wholenessshift.com\/stage\/?p=1037"},"modified":"2019-04-29T01:50:05","modified_gmt":"2019-04-29T05:50:05","slug":"gyst-how-to-get-your-sht-together-money-reset","status":"publish","type":"post","link":"https:\/\/wholenessshift.com\/stage\/gyst-how-to-get-your-sht-together-money-reset\/","title":{"rendered":"GYST: Get Your Shit Together Series: Money Reset"},"content":{"rendered":"\t\t
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Welcome to part three of the GYST (Get Your Shit Together) series.\u00a0 Every spring we all get an urge to clean, organize, and refresh our lives and this series will help with that!\u00a0 If you missed them, I will link to parts one<\/a> (spirit) and two<\/a> (body) here.\u00a0<\/p>

This week we are going to talk about resetting our money.\u00a0 Yeah, most of us probably need that, huh? lol\u00a0 I know I can’t be alone.<\/p>

At the New Year, I had such good intentions!\u00a0 I had plans for a debt snowball to pay off my debt, and plan for living a low-spend year with intermittent no-spend weeks and months.\u00a0 If you aren’t sure what those things are, keep reading as I will go over all of them.<\/p>

As the weeks roll past, I find myself getting more lax with my spending.\u00a0 An impulse buy there, an “I’m bored so I’ll shop on my phone” purchase there…it adds up!\u00a0<\/p>

It’s gotten out of control and it’s time to reign it in!\u00a0 Let me share how I plan to do that and some other easy, effective ways to get a better grip on your finances.<\/p>

Start with your “WHY”…<\/h2>

First of all, as with everything, you have to start with why <\/em>you’re want to do this.\u00a0 Do you want to save for a vacation, pay off debt, invest in your retirement?\u00a0 Do you really need new living room furniture? Need a down-payment for a house?\u00a0 Or if you’re like me…ALL OF THOSE THING (yeah, I’m in trouble, I know lol).\u00a0 Knowing your “why” will motivate you and will give you a clearer picture of your priorities.\u00a0\u00a0<\/p>

1.\u00a0 Get really honest about your spending and budget…<\/h2>

List out every little expense that you have had coming out of your bank account.\u00a0 Get really honest about it!\u00a0 It will become clear very quickly where you need to make changes.<\/p>

Subscriptions to every movie channel available suddenly don’t sound so good when you realize you’re spending $xx.00 every month that could be going toward your goals.\u00a0 It breaks it down for you and clarifies the bigger picture.\u00a0 Figure out what are “musts” and what are “wants”.\u00a0 Get rid of as many of the “wants” as you can.<\/p>

2.\u00a0 Consider opening more bank accounts to divide your spending…<\/h2>

Here is something that I did.\u00a0 I opened up several additional bank accounts so that my money would be divided up, which is very similar to the “envelope method” made popular by Dave Ramsey (only digital).\u00a0 Twice a month when my direct deposit hits, I will have x-amount deposited into my “groceries and gas” account, x-amount into my “emergency fund” account, x-amount into my “bills” account, etc.\u00a0 This sounds like a lot of work, but it has helped me SO MUCH!\u00a0 Maybe it will help you too.<\/p>

3.\u00a0 Debt Snowball…<\/h2>

You may or may not have heard of this.\u00a0 If you haven’t, in a nutshell, a debt snowball is where you list out all of your debts from lowest balance to largest (if that’s the order you choose to tackle them).\u00a0 You then decide on a dollar amount over and above your normal budget that you can commit to putting toward your debt (I committed to $200).\u00a0<\/p>

You proceed to make the minimum monthly payments on all of your bills, except you add that extra amount to the minimum payment of your smallest bill.\u00a0 Then, when you pay off that smallest bill, you take that minimum payment amount and the extra amount and apply all of that to the minimum payment on the next smallest bill until that is paid off.\u00a0 Then you take all of that apply it to the next one.\u00a0 And so on and so on.<\/p>

As the bills get paid off, the amount that you apply to the next bill gets bigger (like a snowball rolling down a hill).\u00a0 For example: my smallest bill had a minimum monthly payment of $25.00.\u00a0 I applied $200 extra to that (so I was paying $225 monthly until it was paid off).\u00a0 It only took a few months to pay off.\u00a0 My next smallest bill also had a minimum payment of $25.00.\u00a0 So, when the first bill was paid off, I took that initial $225 and appled it to the $25 minimum payment of the next bill and now am paying $250 per month.\u00a0<\/p>

When that is paid off in a few months, I will apply that $250 to the minimum payment of the third bill.\u00a0 Make sense?\u00a0 It takes patience which is hard if you’re an instant gratification type of person, but is effective and worth it.\u00a0 You can’t go ten miles into the woods and expect to get out in five!<\/p>

4.\u00a0 No- or low-spend weeks\/months\/years…<\/h2>

I had originally planned for 2019 to be a “no-spend” year for me.\u00a0 Meaning that if it wasn’t a fixed need, it wasn’t getting bought or paid for this year.\u00a0 Only essentials.\u00a0 Yeah, I knew that would go down in flames! (Woman, know thyself).<\/p>

So, I decided to do a “low-spend” year instead.\u00a0 There are certain areas where I am WAY more likely to spend money…I’m sure we all have our own favorite money-traps.\u00a0 For me it is candles\/scents, beauty products, cleaning\/organization, crafts, and office supplies.\u00a0 How about you?\u00a0 Let me know in the comments what your pit-falls are.<\/p>

I would be embarrassed to admit how many candles, lipsticks, etc that I own!\u00a0 Actually, no I wouldn’t because I own that I have a problem. lol\u00a0 However, because I know that I have other financial priorities right now (going back to my “why”), I am willing to sacrifice.\u00a0 So, what does this mean?\u00a0 It means that I am still allowed to shop, but I am only allowed to REPLACE.<\/strong> \u00a0<\/p>

I have to use a candle up and then I can replace it with a new candle.\u00a0 I have to completely use a moisturizer up and then I can replace it with a new one.\u00a0 See what I mean?\u00a0 One out, one in.\u00a0 This has already saved me a ton of money and it’s only April.\u00a0 But, I’ve gotten off track in the past month or so and have fallen back into old habits, which is no bueno.\u00a0 Time to get back on track.<\/p>

In addition, every month I have a “no-spend” week where I only spend money on necessities (bills that cannot be missed or fuel for the car).\u00a0 Everything else (including groceries) is a luxury and cannot have money spent on it.\u00a0 Yes, you read that right…even groceries.\u00a0<\/p>

Lets be honest, if you’re anything like me then you probably have a pantry full of stuff that you can eat, you just don’t want<\/em> to eat.\u00a0 Well, during that week, you will figure out the most yummy recipes you can using up all of that food.\u00a0 The reality is that the week will FLY by and you will quickly realize that it didn’t affect your life all that much…and you probably saved at least $100 in the process by not grocery shopping or eating out.<\/p>

Decide early on what you will do with that savings.\u00a0 Apply to debt?\u00a0 Vacation fund?\u00a0 Emergency fund?<\/p>

A few times through the year (decide early on and then stick with the plan!) plan for a month-long spending freeze.\u00a0 This is exactly what it sounds like…instead of a no-spend week, you’ll have a no-spend MONTH.\u00a0 It’s easier than it sounds.\u00a0<\/p>

What I do is at the end of every day I mark on the calendar if I successfully went without needlessly<\/em> spending money. \u00a0 Sometimes there will be days when you blow it, and that’s okay.\u00a0 At the end of the month, count up all the days that you were successful and pat yourself on the back!\u00a0 Say you had three days where you went shopping or out to eat or whatever…that’s still like 27\/30 days that you saved a TON of money!\u00a0<\/p>

5.\u00a0 Remove all of the shopping apps from your phone and avoid stores…<\/h2>

This is one of the simplest, yet most effective tips!\u00a0 If you’re an impulse shopper like I am, then the simplest thing to do is to remove temptation.\u00a0 Out of sight, out of mind.<\/p>

Delete every single shopping app from your phone.\u00a0 Yes, even Amazon.\u00a0 Especially Amazon!\u00a0 Amazon, Sephora, Target, Kohls…whatever.\u00a0 Get it off!<\/p>

If you SERIOUSLY need something that bad, you will have to go through the effort of downloading the app and signing in again.\u00a0 We can be so lazy that even that much extra work can sometimes be a detriment. lol<\/p>

Another thing I started doing is ordering my groceries from Walmart.\u00a0 Order them online and pick-up is free!\u00a0 They load them straight into your car.\u00a0 I cannot overstate how much money this has saved me.\u00a0 By not going in the store, I have saved hundreds, if not thousands.\u00a0 Seriously.<\/p>

I hope this helps you get a better grip on your money.\u00a0 Implement these tips into your lives and let me know how it goes!\u00a0 I look forward to hearing from you!<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"GYST:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Welcome to part three of the GYST (Get Your Shit Together) series. Every spring we all get an urge to clean, organize, and refresh our lives and this series will help with that! 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