Have you ever heard people say, or said it to yourself, that you’ll start saving when you have more money?
Although saving is very much an action and something we actually do, what must take place first is having the mindset to save. It is easier to save up for something and am sure you have done it – like saving for a holiday or a new car, new furniture or appliances or for Christmas, but saving regularly just for saving is one of the best things you can do. Not only do you give yourself financial security; having money to fall back on if you need it, but you start to manage your money better too. When you get the balance right between saving and borrowing you will find that your financial situation just seems to improve!
Money is just Paper
If you think about money itself, it’s just paper. Yes it has a value in terms of what the Bank of England says that paper is worth, but if you just take a bank note at the end of the day it is just paper.
What makes money so hard or easy to come by is actually not what we do for it, that comes after, but more about how we think about it and you’ll be surprised what we actually think about ourselves and how much value we place on ourselves is actually reflected in the amount of money we have on a regular basis.
This might all seem difficult to understand, so let’s just take it step by step and explain what we mean by that.
The value of anything really is what it is worth to us. Someone might think a car costing £100,000 is of great value but someone who doesn’t have a car and pays £1000 for one will place more value on that because of their need and desire around it. The same approach applies to anything and it’s an individual thing. Although everything we can buy has a monetary value i.e. a loaf of bread will cost us a £1 and so on, it is truly what something means to us that creates the value.
If you think about your own situation and just look at what money you have, take a step back from that and then think about how much value you place on yourself. Do you think you offer a lot to your job, your partner. Do you really value yourself? This can be tricky questioniing because it is hard to try and look at ourselves from the outside in like this. Try to be honest with yourself. You will find most likely that the value (what we think and feel) about ourselves is mirrored in our financial situation and how much money we do or do not have.
What’s the Answer then?
Unfortunately, we do not have a magic wand but what we do know to be true is that if you start to value yourself more you will find that you value other things around you too and your money situation starts to improve. On a day to day level start being grateful for the money you do have. Value what you do buy and what you do with your money. Be grateful for the bills you pay and for the things your money does buy and ultimately value it so much so that you actually keep some!
Value the money enough to give some to yourself by way of regular saving. It doesn’t have to break your bank, just enough to start a small pot that will build over time. You can set this up to go out weekly or monthly, depending on how you are paid. If you put this into your Nottingham Credit Union account you will find that it is easier to save because you won’t be accessing the money regularly.
So really we are suggesting you start to value yourself more and value the money you do have. Start to change your thoughts around money and you will find that you become a better saver!