In the middle of all the economic turmoil and financial challenges people face, being a super saver might seem an improbable feat. Though the economy seems to be moving slowly forward with some businesses, a lot of people are still trying to reel in from the effects of the pandemic which includes their job security.
That being said, saving might be a difficult task at this point but there are people who thrive in setting money aside. Now more than ever, people realize the importance of saving money for future use. The pandemic has highlighted the need for people to have some emergency fund set aside for future needs. Those that did not take this to heart find themselves in hot waters now with the health crisis is still on going.
As people find their income cut down with all the adjustments businesses had to make because of limited income, they are now looking for extra funds. If they were a super saver before the health crisis they might have some extra money to tide them through this pandemic. It is not easy to try and cover even your basic needs when you are running low on funds.
You begin to look for areas where you can pull money together just to get by. There are some people who will start to charge on credit to buy what they need at home. Value Penguin shares that the mean credit card debt for US households is over $5,000. Even if this means maxing out their cards just to put food on the table. Some people would concede to high-interest loans to pay their bills. If you want to look at how you can save money even with the pandemic, here are a few thoughts to ponder on.
You need to make a sacrifice
If you want to be a super saver, you need to know that part of the process is making sacrifices along the way. It will not be a bed of roses and even lessons will be tough. But what you can set your sights on is the fact that it will be worth it. Sacrifices now can mean the difference between getting that latest shoes and keeping the lights on at home in the future.
This is the part where most people give up because they do not want to give up a lifestyle they have grown accustomed to. It is difficult to give up a habit you have developed over a long period of time. The idea is to make small changes to help you save a little more money. The goal is to create a habit you can sustain over a long period of time.
Once you create a habit, you can increase the amount over time. If you are starting now with the health crisis ongoing, it will be a little more challenging. If your income is continuous at this time, you can start with a minimal amount to save. Get used to the habit of setting money aside so you can do it in the future without much thought.
You do not have to give up everything
Being a super saver has this notion of giving up all the fun things in life just to save money. People start to think that sacrifices entail eating ramen for the rest of your life or squeezing the whole family into a one-bedroom house to save on rent. For some, it might even include dumpster diving just to get items you need at home.
This is not always the case when you want to be able to save money. Yes, you need to make sacrifices if you want to save but there is a fine line between being frugal and being cheap. Frugality is the lifestyle where you try to live below your means. You can be creative and try to identify lesser expensive alternatives for some of your expense items. One man in Ohio was able to leave over $500,000 as donations to various charities because of a frugal lifestyle according to USA Today.
Eating out can be replaced with home-cooked meals where you can get the kids to help you out as well. You can start a garden at home so you can grow some of the ingredients you need when making your meals. Family time can be camping out in the backyard where you gather around a fire with stars above you sharing stories around. That is much better and less expensive than driving to the movies every week. With the health crisis, most cinemas are closed anyways so this is a great alternative.
You have different goals than others
One thing you need to remember is that you have a different path than other people. What works for others might not bring the same results for you. If they are successful in being a super saver, their path and even goals could differ from you. As a result, they could be at a different stage in their lives compared to yours.
What this boils down is to stop comparing yourself with the progress of other people around you. It is a lot like keeping up with the Joneses. You see how comfortable and lavish their lifestyle is and you start to question yourself and why you are not able to reach the same status in life. Once you start comparing yourself with the success of other people, you begin to overlook the hard work that put them there.
People you look up to might have been working hard for their dream for a long time now. You may not have seen their struggles and pains to get where they are now. And when that gave them the life they want, that is what you see. Work on your own pace and strive to reach your goals at your own time. Be happy with the success of others and use it as a motivation to get you going.
Splurging within budget
One thing you might not know about a super saver is the fact that they can still splurge. But the idea is that they plan for it and they do it within budget. You might begin to point out that it is not splurging if you are limited within a budget. But splurging is simply spending on things you want. It does not mean that you have to use up all your money to do it.
You can still buy and spend on the things you want. You just need to plan ahead for it and save for it. If you love tending to your garden, you can set aside a budget every month for it. You can buy new pots, soil, and other needs to help you maintain that space. If you can plant fruits and vegetables then you get something rewarding in the end as well.
It is not a sprint but a marathon
It is not easy to save money in the middle of this pandemic. A lot of people are already trying but having a difficult time making ends meet. It is tough when you do not even know where you are going to get the money to buy for your basic needs. A lot of people are laid off or their income is reduced because businesses are affected by the pandemic.
This makes it all the more important to start setting money aside for emergency situations. But remember that saving money is not a sprint to the finish line. It is much more like a marathon where consistency is the key to winning the race. If you want to be able to save for rainy days, develop the habit and consistency will follow.
It might seem challenging if you start to think about being a super saver with the pandemic ongoing but it can be a financially wise decision. It helps to have a fund you can tap into when times get tough.