How I saved over $10,000+ in December 2020

How I saved over $10,000+ in December 2020..

According to Fool.com, the average American has $3500 saved in their savings account. I was plotting and scheming. I was staying in my line and reading all of the personal finance books. I have to say the information paid off big because I used it all to save more money than I had in my bank account ever. This is a story of how I did it all…

Make A Commitment To Save $10,000 

I first committed to the goal of saving $10,000. I said no matter what and no matter how I will save $10,000. My friend Jason Moore taught me that real true commitment is sticking to what you said you would do. Even on days you don’t feel like it and when all the “motivation” is gone to save that money. Regardless of what is happening, save that money.

Become Self-aware of buying modes 

 Naturally, I’m a big-time consumer. I buy this, I buy that, and I buy this and that for the simple fact I am programmed to spend money. I had to become self-aware when I was in my over-consumer mode. 

And when I became self-aware, I would ask myself, “Is this important for me right now?” Every single time it was no. So I would practice telling myself no, which made it easier to tell other people no too. Instead of buying coaching, courses, even going on trips, and whatever else it is, I would take that money and put it into my savings account. 

Created a budget 

I created a budget to help me stay on track with what I need to pay monthly. I figured out my monthly net income amount, even divided my budget between essential and non-essential items. I cut everything non-essential and put that money into my savings that month. 

Non-essential, meaning if it cannot help me make money, then I cut it from my budget. I was able to slash almost $2000 from my non-essential monthly budget. That whole total dollar amount of non-essentials went straight into my savings bank account.

I got a third job 

I am an American Soldier and work in the information technology field. I noticed I got off in the afternoon and had a couple of hours to get a third job. I started working as an assistant manager at Domino Pizza.

At first, my ego took a hit. I thought working at Domino’s Pizza was beneath me. I was wrong, and I am having fun. I have great co-workers and a fantastic leadership team.

But I also remember Dave Ramsey saying you have to do what no one will do now so you can live as no one lives later. And I’m sure living like no one can live now, too, and my savings account would be smiling cheek to cheek if it could. 

The downside to working a 3rd job I was hurting physically every day when I started from being on my feet. I would get home late at almost 1 or 2 AM. I had to be up by 5 AM. So exhausted was an understatement.

Automate your savings

Every paycheck, I made sure 75% of my main job went into my savings and 100% of my second and third job income went into my savings account too. I lived off the bare amount of whatever was leftover from my main job.  

Main job: $4000

Job #2: $1000

Job #3: 200

Left for me to live: $700

Word to the wise

When you start focusing on saving money and putting yourself in a better position. You will get called selfish and even looked down upon. The same people that thought you would “bail them out” or offer financial assistance get upset when you say no. It is part of the journey. 

Even my romantic relationship took a hit because I was not prioritizing it. No matter what happens or anyone says, don’t feel bad for putting you and your money first. Even if they stop praying or saying God will bless you. Just know you are blessed. 

Last words

You can’t see it or feel it here. It was emotionally and physically hard to save this money. But make you stick to that commitment to save $10,000. No matter what happens, save that money. Even if you don’t save it in 1 month like me, you will be surprised how close you get. Your budget is your wake up call and best tool. Make it and use it. People lie, but number expose in a good way.  

I ended up saving almost shy of $20,000 total. (The picture below is me reaching my goal ones the money cleared my account)

Make sure you subscribe to my email list below because I am on my journey to paying off all my debt and working my way to saving $100,000. Every month I will do monthly money reviews to show you how it is going and really get down to the numbers of everything too.

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