5 Quick Wins to Set Yourself up for Success with Money

Money is hard for some people and I get that.  

Personally, we can put ourselves in your shoes because I started out small too with quick wins.  

It usually happens when you feel really good about where you are at and that you can make moves.  Or it also happens after something dramatically happens like Co-vid pandemic, a job loss, a job change, moving, getting out of college, marriage, etc. 

Whatever brought you here we are glad you are here and hope you take one of these quick wins and put them into your financially journey of life.  

We hope you believe in goodness and God’s goodness for your life! Budget for you, and grow your networth for you and your legacy!  

Download the Budget Calendar Today!

Let’s dive in some quick win for yourself.

1. Pay off a small student loan.

My little sister did this and she said, “That was easy!”  She paid off one student loan of $700!”  That is one less than she has now! 

The decision for my sister was to buy a kayak she had been wanting or to pay off a student loan. She paid off the loan, and then guess who she was blessed for her birthday with a Kayak from her boyfriend. Isn’t that cool how God moves in ways we never thought would happen, but when you make money moves to better your life.  God see that and he sees that you will bless others too once you can make bigger money moves!

I remember when my husband did the same thing with his personal loan, and he cleared out his small personal loan.   It can be any loan you have out there that is in your financial way to freedom. 

Just a small quick win makes you feel good and gets you started on the right path!

2. Put your bonus towards your savings to start an Emergency Fund.

This is a great new starting beginning!  

Many people have shared with me this is how they turned their financial journey around.  Taking your $5000 bonus and putting it in your savings fund to start an Emergency Fund

Then once your next bonus comes around you can spend a little, give a little, and save a little instead of just saving it all 100%. 

We have personally done this too for other savings as well.  We did it for our baby fund, paying our wedding with cash, my car, and so much more! 

You have to make a difficult decision to use it long term rather than short term wants, but we know you can do it!  Just remember that it will add to your peace of mind and that is what growing your wealth is all about. 

Other articles you might like:

5 Saving Tips for Auto Insurance

3 Debt Free Skills You Should Know

5 Morning Routines for Success

3. Take 1% of your 3% merit increase and put it towards savings for your future.

Yes, everyone loves a good raise!  You and me both! 

We understand right now with Co-vid that this may be far and few because of the pandemic and many companies are on tighter budgets just like we are personally. 

However, if God is blessing you this year with a merit increase. Use it as your advantage and turn it for good!

Take your merit increase when it comes yearly and take 1% of your 3% increase and increase your retirement savings whether you are saving in your 401k, ROTH IRA, a new one, ROTH 401k, IRA, etc.

It is important to save for your retirement now because you will not be working in when you are retired.  We understand that this is far for some people, but the sooner you start the better you will be!  Remember, if you are a millennial like me or younger we will probably not have social security to live off of.  You will need a big goose egg for your retirement, unless you want to work until you are 100! (not to scare you or anything, but think about it!)

Personally, I started small with about $100 a month adding into my 401(k) and now seven years later is it growing me a small income for me each year and it will be even bigger when I am wanting to retire.

4. Set up an automatic savings of $5 weekly into your savings for a goal.

Get yourself set up for success by saving away $5 per week. $260 per year is a good start especially if you are just beginning or need a fresh start.  It is setting up the habit and once you feel like you’ve accomplished that automatic savings you can increase it. 

This is a good habit to build!  It is just like the habit of exercising, but you know what. You only have to do it once and then forget about it!  I wish exercising could be that easy!  Please sign me up for that! Who else is with me?  Like the post below if you are with me! 

Want to shop to help you on your financial journey? Check it out!
5. During open enrollment for health insurance, sign up for a high deductible health plan and open up a health savings account.

Health Savings Accounts are a 3-way tax savings!  We all want to save on taxes! 

  • HSA are pre-tax money
  • No taxes on the growth
  • No taxes on the qualified expenses you spend the money on

Did you know that is the highest expense in your budget?  

You probably did not even count your taxes apart of your budget because you do not see that money.  However, it is!  When you put your money in an HSA you can use it as another vehicle to save for your future just like a 401(k) or Roth.  

Did you know the most money you spend in retirement will be medical expenses? Think about it for a moment.  Personally, my grandpa when he was on his last year of life.  He went to the doctors often. I stayed with him in the hospital for a while until he got better.  I bet you know someone who was on their end of life and who spent their time in the hospital. 

These 5 quick wins will set yourself up for success with money. They get you going to be debt free, live life for the Lord by being able to give abundantly, and live your dream to leave a legacy. That is what we love about bring wealth to this world is because we get to give even more!  When you give out of your heart, you receive so much more.  Check out this post about giving

Like the post, if you find one of these quick wins to help you on your journey.

Pin to help out another friend with these quick wins.

Pin to remind yourself the quick wins later in the year.

Subscribe to our blog to stay tuned in! Receive one action packed email with money tips, freebies, and fun!

Make your budget easier by downloading the free budget calendar.

%d bloggers like this: