How I Reached my First $10, 000
I received a $4, 000 scholarships as a Canadian Millennium Recipient during my last year of CEGEP. (CEGEP is a two to three year mandatory educational step before university in Quebec). That was around 9 years ago. Since I was always concerned about saving money, I placed it into a GIC account to where it grew to around $6, 000 today. People would ask me why I did not spend some of it to spoil myself… you know… go on vacations to Cuba, go to the spa go shopping ;….
The thing with me is that I enjoy spending money on experiences. If you told me I could move to Malaysia tomorrow and spend six months to a year soaking in the culture, the environment, all that ood and getting to socialize and make new friends and learn Malay – now THAT excites me! To spend it on “Things” that I will look at, pile up and clutter in my room simply sounds like a headache and causes me stress to look at.
If you have stellar grades, volunteer experience, community work experience or are part of a cultural or religious or social group that offers scholarships and grants- go get them! They are there waiting for yo. Do your research and claim that money as yours!
2. Writing Down Your Goals
Setting goals are very important. Seeing them written down is even more vital. The brain registers the information more when you can visually see it in front of you. Write yourself a cheque for $10, 000 with a scrap piece of paper and pen and stick it in your journal.
Every day I set my goals and write them out daily. This may sound tedious but it works. In addition, I write down the amount that I am grateful for as if I already have it. Imagining and visualizing having reached my goals makes me work faster and harder to wards them It is a technique that has helped me stay on track.
3. Little Expenses
Now, I did mention that I do not spend money on shopping, new clothes, shoes or vacations (what I categorize as a luxury), unless I really need to. For instance, I recently bought a pair of $57 black shoes for work because my other two black shoes were too worn.
What I needed to be more vigilant of is my love of makeup and accessories! I never buy anything for full price; however, when you add up all those little expenses it comes to more than what we may originally willing to spend.
What are your saving goals?
There are my three starting tips for anyone trying to save more money and become frugal! Stick around for Part II.