Not sure if anyone else out there is also an avid fan of Lisa Nichols but I’m a huge fan. I have 2 of her many motivational books and often listen to her many lectures and speeches on YouTube while working at my desk.
Lisa often speaks of the time she lived off welfare and how she once didnt have money for diapers, with only $11 to her name. (Click here to listen to her amazing story on YouTube: https://youtu.be/R_SQhzMSNUg )
Long story short: she scrimped and saved over the course of several years by sacrificing on going without professional mani-pedis..going out to eat..downsizing her home and automobile..and other frivolous spending. She stated that before she knew it..she had saved $62k. Over the years she never looked at her account to check the balance for fear of spending it. She deposited a percentage of her paycheck..increasing the percentage as time went by.
I’ve decided to to follow suite. I have a growing 401k, 4 credit cards, 2 institutions that I bank with, and I use Qapital for my saving needs. For this saving journey..I’ve opted to use Qapital. There are also other banks and investment apps such as Acorn.
A percentage of my paycheck from my morning job will be automatically deposited here as well as my royalties from my books and audiobooks. My royalties had been going to my Qapital account anyway but because I have the app and debit card, my money would be spent just as soon as I seen that it was deposited. (Usually to be re-invested back into my business.) I will be deleting the app on my phone so that I can’t see the amount accumalating and be tempted. I am also THINKING about cutting my card so that I can’t swipe my Qapital card. 😦 #Sacrifice
However I don’t want to stop there. I read a book a few weeks ago by a young well-to-do Italian-American woman (Wish I remembered her name or the book title). She, too, sacrificed and began living below her means, although she wasn’t poor or struggling. Like Lisa, she stopped eating out, learned to cook, stopped going shopping during her lunch breaks, packed her meal for lunch, stopped buying coffee at Starbucks and retrained her mind to stop impulse buying. Whenever she thought she wanted something, she’d give it a month to decide if she really needed it.
As of July 5th, 2019 I have decided to begin my journey of spending down. I started with cancelling my subscription with Gaia and Audible. I will miss their services, but I’d rather pay ME regularly. I hardly watch Gaia and I will just have to depend on YouTube to get my dose of spiritual documentaries. As far as Audible, I love the service (my audiobooks are sold there) but I have a nice amount of audiobooks in my Audible library to last me awhile. Plus YouTube also has books on audio of all genres. #sacrifice
The only subscription that I am not yet willing to part with is Netflix. (Don’t judge me. I just can’t part with Netflix’s amazing Orignals, such as, Black Mirror.)
I am thankful for not having a car note. My car is paid off so that’s more money to save in my Qapital account. Every year I bitch to my daughter about buying a BMW but it’s another #sacrifice I’ll have to take. I can wait.
The hardest part of my new spending down journey: Doing my own nails,my own lashes, and no more eating out. Eating out is how I usually bond with my 14 yr old daughter. As well as other activities but mainly discovering a new place to eat at. I’ve substituted bonding at a restuarant with bonding while cooking together. I’ll let you know how that works out in another post.
I just paid off my credit card debt. It feels GREAT to not have that over my head anymore. I won’t lie, my daughter’s birthday is next week. We’re travelling for her birthday and I’m afraid that I’ll swipe my credit cards to pay for expenses. I dont want to rack up debt again. That’s more money I could be putting in my Qapital.
Another key decision i’ve made is waking up with a positive attitude and a feeling of gratitude since I believe in the Law of Attraction. I also will study, read, and learn about other successful and wealthy people and investments. (I have Investments for Dummies on audio. I’ve had it for awhile and blindly dabbled in investing)My goal is to learn about their positive habits, especially when it comes to money management, as well as the hard work it takes to catch/reach your dreams and goals.
I’ll post an update (God willing) on this spending diet in January.
Please send positive vibes my way : )