I get it. Trust me. It is already too difficult to earn money. It is even more exhausting to save and grow the money you earn. It requires time, discipline, understanding of oneself, practice and patience. If you are too hard on yourself for not earning or saving enough every single day then, you lose faith in yourself and your ability to ever do it. I have been there, done that. But the important thing is… I got out of that negative self-talk.

I have been impatient, followed the wrong financial advice and have been unmotivated to ever change anything for the better. After trying multiple ways of managing my money, I have realised my many mistakes. My whole idea about the concept of money and its importance had been wrong all along and I had to shake it up in my head a little.

Finally, I came across the buckets system, set it up and now wondered what to do next. How do I build patience, discipline and clarity around managing my hard-earned money?

Here are some tips that I follow to manage my day-to-day finances. Even though these tips are super simple and generic, I am not a financial adviser or an expert. I am still making mistakes and learning from them every single day. So before you take any crazy financial steps, please talk to a registered and certified financial adviser.

Can’t wait to buy it? Wait for 3 days.

“We are launching the new iPhone with the most powerful processor, the best camera, the brightest and most advanced display, and the craziest features. Pre-order it NOW to get it delivered FIRST”, Apple every year.

I know you are super excited to click that ‘Pre-order Now’ button…. but wait. Wait for 3 days.

Ask yourself these questions:

• Do I need it?
• Will I be as excited to use it after 2 months as I am right now?
• The cost of this item will be equivalent to 3 weeks’ worth of my salary. Is it worth it?
• How much of a difference will it make in my life?
• How much happiness will I get by buying this right now?

If the answers to these questions are satisfactory and make sense to you, go buy it and enjoy! Mental health is also super important! At the end of the day, you must understand the difference between your ‘wants’ and your ‘needs’. No two people will have the same definition of ‘wants’ and ‘needs’ in life.

By the way, this is for every luxury you buy in life (not just the latest iPhone).

Save water for the hot summer.

If you don’t already have one, open an Emergency bank account right now! I’m serious, go online and open one right now! I have briefly touched on this topic in my previous post.

There are few rules to follow with this account and trust me it will take a lot of discipline.

• This account should be in a bank different to the one you use for your day-to-day transactions.
• This account should have enough money to help you survive for 4 to 6 months without any income.