4 things I always do with my money

Good morning Dinks.  I know I talk a lot about what not to do with your money.  Avoid making the same mistakes I did etc.  It’s no secret I’ve had a troubled money past and I am very proud I overcame my struggles.  Now it’s time to take a positive spin on the subject and tell you what to do with your money instead of telling you what not to do. Now that I am happy with my money situation (knock on wood) there are three things to always do with money.

I have changed my financial habits for the better but it wasn’t just good luck. I learned how to be financially responsible by learning from my mistakes.  I now know the secret to living a happy financial life is very simple, you have to form good habits.

Here are four things that I always do with my money:

1. Save automatically.   This is the absolute one thing I always do with my money.  No matter how much money I spend in a month I always save automatically. I set up automatic savings from my checking account to my savings account each pay day to ensure I always save at least a minimum amount.  After my spending and expenses are paid if I have money left over I transfer a little extra into my savings.  Setting up automatic savings makes sure I save at least a little something every two weeks.

2. Spend it cautiously.  In the past I was guilty of not doing this.  Now I only spend money on the necessities, unless I’m on vacation.  For some reason when I’m on vacation I like to spend money.  I still double think my purchases but I don’t spend days contemplating if the item is worth the cost.  It’s actually a bad habit because when you are on vacation you are usually outside of your local region and therefore can’t return the item.  It’s better to spend recklessly in your hometown because you can always return the item and get a refund.

3. Keep a maximum of $20 in my wallet.  You know I am not a fan of keeping money in my wallet.  However I always try to keep $10 to $20 on hand just in case.  This avoids paying fees at places that require a minimum purchase amount if you want to pay with your debit or credit card.  Some places have a $5 minimum purchase amount or they charge a fee to use a debit or credit card.  This drives me nuts.  Keeping $20 in your wallet avoids paying these fees.

4. Watch it, like all the time.  I am obsessed with my bank account, to the point where I check it several times a day.  I login to my online banking throughout the day to check my account balances as well as all my recent transactions.  If I am not near a computer I use the mobile app to watch what’s going on in my bank accounts.  The sad thing is usually nothing is happening because I know exactly what is being deposited and when.  I also know when money is leaving my bank account so there is really nothing to watch.  But it’s better safe than sorry when it comes to money.

Photo by tahnyakristina

Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.