Money Matters: Cutting Back on Your Spending

As a hustler, one of our biggest obstacles is money. I mean, isn’t that the reason we got into side hustlin’ to begin with? But not just making more money, but managing it, saving it and as we all do at some point, spending it. But sometimes we forget to shift our mindset about our money from spender to saver.

One of the best ways to get in the habit of saving more of our hard earn extra greenbacks is to start cutting back on the things we’re already spending on that we don’t need.

Side hustlin’ is not about wants, it’s about needs. Supporting the needs, fulfilling the needs, saving for future needs and of course, needing to earn more. Wants go out the window (at least for a little bit).

To help you better manage your side hustlin’ money, cut back on your Starbucks or Coffeebean drinks. Skip Kindle for your books and go to the library. They got digital copies too, now. Pack snacks for on the go and lunches for work. Bring water with you wherever you go to avoid the temptation of spending on convenience store drinks. Limit your Uber or Lyft rides to a reasonable number and on a need basis per month. Shop at the Dollar Tree for office and work supplies. Need a better outfit to impress a prestigious client? Good Will. Or ThredUp. Or Poshmark. Second hand is your friend.

As you can see, whatever you need to get your side hustle off the ground and start bringing in real dollars begins with you first changing where your money goes. If you wanna see more money coming in, start by letting less money go out. Then your side hustle money will really look good. Hello!

Money Matters: Setting Goals

saving and making money

Since it’s still early January and many people are making promises and resolutions to themselves on how they’re going to do better this year, I want to continue to talk about money.

Openly.

Honestly.

Because, let’s be honest here, it is the catalyst to anything we want to do in our lives.  From going to the grocery store to take a week long vacation in another country.  Money is how we get there.  And I don’t care how you come across money, you’re still going to need.  Whether you work for it or someone gives it to you, money, money money.

I promise you, I’m not obsessed.  I’m conscious.  I am conscious of the tool money and how it plays in our lives.  More importantly, how we allow it to play in our lives.  So, let’s start of this year right.

Let’s set some money goals.  And we’ll do this together.

Here, I’ll tell you mine for 2019:

  • I want to save $1,000 for my Chase Savings account.  Chase, like many of the other big banks, aren’t paying anything in the way of interest.  But I’m not saving this grand for the interest, but rather for immediate access.  For an emergency.
  • I want to earn a minimum of $2,000 for the notary this business this year.  I had a pretty good year last year with my notary business as a part time venture.  It definitely has pay for itself a few times over, but now.  I want to take it up a notch.
  • And, I want to add an additional $1,000 to my dream home fund.  Started this a couple of years and have successfully saved over $2,500.  It’s not much in the way of buying a home, especially here in LA, but you know what they say about taking on something.  You gotta start somewhere.

So, all in all, I am looking to save and/or earn an additional $4,000 this year.  Ambitious?  A little a bit.  It just means I’ll have to be more creative than I’ve been in the past to get to where I want to be.  Hence, that’s why I hustle.

So, what are you money goals for 2019?  I’d love to hear them.