Saving…

What’s one thing you wish you had started doing earlier in life?

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We all wish we would have done something earlier. As we get older and gain more experience in life, most of us think that if only we could go back to year xyz, we would change this, not make that mistake and our life would be different. It is partially true, as our life would be different but would we learn the same lessons?

Importance of saving money has always been somewhere in the back of my mind. I grew up in a family that did complete opposite and at some point we were drowning in debt. Even though I knew I should be saving money, there was always something – I was earning too little, I needed to fix this, I needed to get that. So instead of taking small steps earlier, I’m taking small steps in my 30’s…

First I needed to figure out where my money was going. Looking at the bank statements at some point made me realize that I had no excuse of earning minimum wage, if I was wasting money on unnecessary things and had no savings. Don’t get me wrong, buying something that is not absolutely needed to live is okay but doing it constantly and not having anything saved up for emergencies is not.

Then I needed to figure out what I actually need to cover monthly – bills, insurance, phone plan, groceries. Doing those two things made me realize that I could save something. Maybe not hundreds of thousands of euros per month like some people are able to, but small amounts add up over time.

That’s why I started this blog – a lot of people think that they’re absolutely screwed and cannot save because they earn very little. Sometimes that is true. But in many cases a little bit more focus on finances and being mindful about our habits and spending can make a difference.

I wish I started saving money earlier but I also think that if I did, I wouldn’t have the need to be so vocal about it and start a whole No Buy Year blog. It is never too late though. My parents started turning their life around very close to retirement. I don’t want to be in their shoes though, with debt hanging over my head till I’m in my 60’s.

Saving is not easy and won’t make you rich overnight. But if you are in your 20’s or early 30’s, there’s actually a chance that it will make your life easier and more comfortable later on. Not having to take on debt for emergencies or being able to cover certain things right away gives you freedom that is priceless. It is something to think about…

Till next time,

xoxo,

Aleksandra