A penny saved…

I read the book, The Wealthy Barber,  many years ago, when I first realized that money didn’t have to be crazy or stressful.  To be honest, while all the ideas made sense to me at the time, I wouldn’t let them sink in.

I’m a recovering perfectionist.  By that I mean that I delayed many things in my life because I felt I needed more (insert item or quality here) before I could start.  I couldn’t start saving 10% of my gross income until I paid off my debts.  I know this won’t be a big surprise but in all that time, I neither saved nor paid off my debts.

Whether your goal is living debt free or frugality, the best time to start any plan is 10 years ago.  The very next best time is today.  It took me a long time to see that delaying a savings plan was contributing to the cycle of stress that had become linked with money.  I was tired of not having enough money to pay my bills, of being late with payments, of worrying whether I would have enough to cover everything.

I slowly began to realize that if I managed to save just $20 a pay, I would have about $500 by the end of the year.   If I continued to do that, I could have a savings account for a rainy day and break my dependence on credit cards and other forms of debt.  So I did just that.  Recently when I was briefly unemployed, this money was much needed buffer until I had a new job.

When you think of savings or frugality, think small at first.  Allow yourself to make tiny changes that have very little impact on your day-to-day life, then kick it up a notch.  The small sacrifices can create huge dividends when time is on your side.

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