Smart decisions

Money is a nice thing. It helps to make your dreams come true, keep up your health and make your life worry-free. However, it does not bring happiness or full satisfaction and it cannot be used to buy friendship.

This time I’ll talk a little bit more about saving and things that it brings to your life. I officially started my saving goal in May 2017 when I had 1400 euros in my account. The money was back from my previous home for a warranty rent. Then I decided that now or never. First, the goal was to collect 3000€, then 5000€ and finally over 10,000€. Now I’m looking back, and I can say that I was doing quite well. I got a lot more than I expected. The most important thing in saving, as you might guess, is patience and purposefulness as well as self-discipline. My weakness is particularly related to the lack of patience. Sometimes I want everything to happen "in the same seconds" or I want to see a change in my life within a week. However, while ageing I have learnt to slow down and wait, because all the good things come in the end.

Here are some tips to raise your savings:

1.       Goals. For myself, the goal was a trip and extra money for a bad day. I have also a saving account from which I cannot withdraw money. I can transfer funds from my operating account to my saving account, so the money accumulates as if it were not wasted. My first goal was to travel to Jamaica and Mexico. I took a look at the costs f.ex. flight prices, accommodation, activities, general tourist price levels etc. Also included, if I eat at the airport. When you are planning a trip, it is important to think about every little thing. Considering also if you need to order a new passport or take vaccines and other medications depending on the country of destination. Even the goals are driven by small amounts, the big pot increases over the year, depending on how much money you can put aside.

2.       I love planning and budgeting. Especially for a week's grocery shopping. It is smart to budget, for example, how much money you will spend on food per month, how much you spend on eating a meal or at restaurants etc. I use an Excel spreadsheet, which I always add monthly amounts to what I use for grocery shopping, clothing, cosmetics, sweets, alcohol, exercise, leisure and so on. For someone the Excel spreadsheet may sound painful or that you save every little receipt from different stores. One easy way is to withdraw money (a certain amount) at the beginning of the week. The sum is for the whole week and no more can be withdrawn. I have been working, though, sometimes in distress when I would love to buy a chocolate plate from supermarket or a new top from clothes store. Sometimes it is too difficult to resist. 😊

3.       Give up unnecessary expenses. Sometimes, without notice, we spend money on everything you might not need, or it is not so necessary. An electricity contract can be negotiated at a lower cost, as well as a package for the mobile phone. Perhaps you can change your expensive gym membership if you do not need a luxury. And best of all, doing outdoor activities in fresh air is completely free.

4.       Impulse buys. They have always been my worst sin. The city has all the temptations, right behind your door. On my way home, it would be much easier to get a meal from McDonalds, pick-up coffee from cafeteria, grab an energy drink from grocery store or buy a cheap blouse from H&M etc. "Well, that's just 5 euros..". That is a very familiar phrase that will destroy your saving goals. Of course, it is legal to occasionally indulge in a little pampering. It won't be the end of the world, even if you want to buy one blouse or chocolate plate at the end of the month.

5.       Sustainable development and recycling are now a hot topic. I often wonder if I really need a new bag or shoes, or could I get them as used? Sure, if you already have enough money in a saving account, you can give yourself permission to poke for example 50 euros per month and buy something nice. For me, the latter option is the most appropriate. A few years ago I was still a crazy shopper who just picked up new clothes to fill the closet and finally I didn't remember when and why I bought what. Sounds irresponsible or what?

 Saving for myself has made my dreams come true, as I mentioned at the beginning. It has also given financial support and the fact that, even if something bad happens (sickness, unemployment, sudden breakdown), you can always rely on your own fund. I've also started gathering coins into my piggy bank and, surprisingly, I found that the past couple of months there had already accumulated nearly 100 euros. And the best of all, there are many opportunities for saving money in Finland. Especially for employed people, because then you’ll have an afford to put money on side.

In fact, I would not have received as much money as I do now if I hadn’t done three jobs at the same time, what meant that I worked all day until late evening. I was very exhausted but there were also some good moments. Except my social life shrunk quite a bit. There was no time to see friends, but luckily most of them understood that I made it because of my dreams. I've already learned since childhood the importance and the value of saving money. Since I was 15-year-old, I worked every summer to achieve what I want. In the beginning, it was the coolest jeans in the high school and nowadays an airline ticket to new adventures.

I wish you guys could start saving money on this month. Just put the first coin in a piggy bank and get your own mind map of dreams. Have a lovely rest of the week.