6 Things To Do When You’ve Reached Into Your Savings Too Many Times



It’s a new week and we are starting fresh with a freshly new savings account!

It doesn’t matter how many times you’ve dug into your savings account, it happens and just about everyone has done it before so don’t beat yourself about it… 

I am about to help you get back on track so keep reading!!

#1: Figure out what is causing you to dip into your savings

What is causing you to go into your savings? For an emergency? shopping? Bills piling up? Too much debt?

Figuring out the root of the problem will help you understand where your money is going so you can put a stop to it.

It can be difficult to stop dipping into your savings but your future self will be happy you stopped and started paying yourself first.

#2: Review last month’s expenses

Looking over your expenses from the previous month will help you visually see where your money needed to go such as bills and necessities and the things you wanted to buy such as clothes, shoes, etc., last month. 

This will help you prioritize your needs over your wants if most of your money is going mostly to shopping every month. 

Taking control of your spending habits will help you financially and mentally because you’ll realize that the things you buy are temporary compared to the things you need to pay for to live and survive.

Bad spending habits come from us being unaware of how much money we will need in the future vs knowing we paid all of our bills this month and we want to buy the latest handbag because it’s on sale. 

A sale isn’t a win-win if you may need that money for an unexpected bill or emergency so be more conscious when you spend. 

Ask yourself 4 questions: “Do I need or want this? Do I need to go into my savings for this item? Can I get this for cheaper somewhere else? Is it within my budget?”

Creating this visual is very beneficial to have and to look back on to help you stay on track so you can learn from it.

Reducing your expenses such as your monthly bills will also help you save more money.

If you don’t know how to do that you can look into Trim and BillShark to help you get started with the process!

#3: Review current income & Increase it 

Look over your current income to see if you’re making enough money to where you don’t have to touch your savings even if you have an emergency, high interests, an unexpected bill, etc. 

Sometimes the lack of funds will make us feel like we have to go into our savings but the truth is we need to increase our income instead. Increasing our income can be hard if you don’t know how or don’t have the extra time to work for it. 

You can find a passive income to help you make money so you will not have to do much work such as Share-A-Sale, Aragon, etc. 

You can make money from doing anything just Google it!

#4: Create a new budget 

After you’ve increased your income and reduced your expenses, you can create a new budget. 

You can review the budget as many times as you want to make sure that you’re on track and your checking account is far from the negatives preventing you from going into your savings for ANY reason. 

If you need a new budget template or if you don’t have one then you can get one from Mind Over Money Education for only $7!!

#5: Create a plan to eliminate unhealthy spending habits

After reviewing your spending habits, it’s time to come up with a game plan on how to move forward whether it’s saving up money to spend every 2-3 months, spending a lower amount each month, or finding cheaper items to stay in your budget… 

Whatever plan you come up with needs to be realistic enough to work for you. A plan that works for one person may not work for you and that comes with knowing how to help yourself grow and not suffer from money distress. 

#6: Pay yourself first  

Pay yourself first. Period. 

You can pay yourself by starting small with $5 a week or $20 every paycheck. Go at a pace that works for you and increase the amount as time progresses. You’ll get to your goal eventually!!

And remember that you come first always.

Dipping into your savings may not hurt you today but it will in the future.

Try these 6 steps and comment below how it has helped you!



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