"Paying yourself first" is a popular way to save money; it forces you to put some dollars away and budget what's left after taxes. But that can be a difficult way of doing things when you have irregular pay or have a lot of bills looming. In these cases, you have to make adjustments and work on a few issues first before you can start paying yourself -- and then you have to transition successfully from spending what you get to saving first.
Those Urgent Bills
You have to take care of those bills. If you work for yourself, work as much as you can for a week or two -- even a month, if you can handle it without making yourself ill. Really pare down your spending for those weeks, too, and get enough of those bills paid so that you're about two to four weeks out from your next bill.
The "Finally" Shopping
Chances are, once you get those urgent bills paid off, you're going to think you need to buy a lot of things. Maybe your shoes are about to fall apart, or your spices are all depleted and all the jars nearly empty. It's true that you may have to stock up, but don't go wild. Set a budget for this, make a list of everything you think you need, and then pick out the items that are most urgent and that fit your budget. Do this for a few months and gradually work your way through the list while getting the rest of your budget under control.
During those months, keep your other spending to an absolute minimum -- don't drive yourself nuts by being too strict (you can't live off bulk-bin oatmeal for months, really), but buy cheaper cuts of meat, learn to soak and cook dry beans instead of using canned, and so on. Squirrel away as much cash as you can, be it in an envelope in a filing cabinet or in a basic savings account. At this point, you're not trying to invest -- you're just trying to build up at least a month's worth of cash. Go for two month's worth, if you can.
The 30-Day Plan
If you managed to put away two month's worth of cash, place one month's worth in an emergency bank account. Look, you have an emergency fund!
If you only managed one, that's fine. That month's money will serve as your general fund, from which you take money to pay bills so that you're not desperately waiting for your next bit of pay. What you need to do every month from now on is, as you get paid, place a percentage in an account for savings, and the rest in your regular bank account. Remember to adjust your budget so that you aren't spending more than you leave in your bank account. You will soon see that saved amount growing.
It's Just Too Tight
Finally, a word to those who are already on such tight budgets that saving anything seems impossible: Do what you can. No shame, no judgment. Save your spare change. Put away five dollars a month. But whatever you do, do it consistently. Money builds up.
You may want to avail yourself of financial planning services in your area. You can find everything from in-depth assistance to low-cost seminars. Once you start saving money, you have to give it something to do, and that planning will help you invest more and more.
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