We all need to earn a crust, but admitting that you like money might sound like a materialistic statement. As we’ve already learnt from Erin Henry, changing your perspective on your finances actually could help you manifest more money, something we are especially keen to do! So now that we know the basics of being financially responsible, we are on a mission to increase our bank balance.
Whether you’re wanting to save money for a baby, longing for a house of your own, or are just looking to live debt free, we got a renewed boost of excitement watching finance expert Canna Campbell’s (a.k.a SugarMamma) latest video, where she has managed to save $36,000 in 13 months—and no she didn’t win the lottery.
Campbell started this financial win with the ‘$1000 project’ where she would save that amount into a separate bank account, and once achieved, shift those funds into her existing investment portfolio. Now, we’ve heard of wealthy people’s tips for saving before, but what really impresses us about Campbell’s success is that she managed to save the money outside her normal means of revenue raising. Yes, other than her job, Campbell took to renting out her home on Airbnb, taking side-hustle gigs, participating in market research and adopting a minimalist approach to her possessions by selling things she no longer wanted.
Keep scrolling for three tricks Campbell used to help her save some significant cash.
#1: SET YOURSELF A SIMPLE AND ACHIEVABLE FINANCE GOAL
Campbell’s goal was to build up a passive income stream of $4000 per year. For you however, it could look like saving a significant amount in your emergency fund, or paying off one credit card debt. Campbell suggests setting an end date for your goal and writing it out on daily basis in order to keep yourself motivated and focused.
#2: ALWAYS CHECK YOUR MINDSET
Campbell says another key to saving effectively is staying excited about your vision by thinking about the freedom and opportunity that can come with an increased cash flow. Campbell also talks about seeing your finances working for you, as opposed to you working for it.
#3: REVIEW YOUR PROGRESS
Part of reaching your financial goal is making sure that your strategy is working. In her own journey, Campbell made sure to review what was making her the most money with the least effort. She also did this as a way to make sure she wasn’t going to burn out with strategies that served out low results.
Watch the full video below.
Learn more about your finances by reading The Barefoot Investor.
Want more financial tips? Follow us on Pinterest.