• Melissa Walton-Jones

Finer Finance Fridays #3 - Part II

Recap from last week...it is possible to build wealth, for yourself and future generations. One of the ways to do that is to reduce your spending, specifically don't spend more money than you have. In Part I of this series we focused on a few ways to reduce spending.

I've checked in with a few of you and you have shared some ways you have reduced your spending this past week. A couple of you mentioned you took your lunch to work, instead of eating out, someone else mentioned they bought Starbucks 3 days instead of five. Those are AWESOME!!! Keep up the great work! Part II of this series, will focus on some of the benefits and rewards of reducing your spending. It Pays to Save!

Frugal tactics towards saving more money are immediately effective when it comes to your bottom line. If you spend fifteen minutes making a grocery list and stick to it at the store, that time spent immediately results in more money in your pocket. So, what are some other benefits or rewards of spending less than you earn?

  • You can manage your financial obligations more easily. No matter what your level of income is, it’s going to be much harder to handle a setback if you're living paycheck to paycheck versus if you have a cushion because you spending out less than you are bringing in. You create a bigger margin for yourself when they are fewer bills to pay.

  • You can save more! Another real reward of spending less money is having more to save. If you don't have one, work towards saving for an emergency fund of $1,000 ($500 if your income is less than $20,000 a year) Think of your savings as insurance for future needs. Instead of reaching for your credit card to pay for a car repair, you will be able to take the money from your emergency fund.

  • You can enjoy life more! Even if you love your job, wouldn’t it be nice to not have to spend as much time on it? To have the option to work more or not, depending on how you feel? When your expenses are less, your need for income is less, and therefore your obligation to work is less. Which means that you have more freedom to spend your time as you please. You have more freedom to hang out with your kids, take vacations, or see friends and family. More freedom to do more with your life because you have fewer obligations tying you down.The less you need, the more you can do.

  • Keep your stuff! When you spend less than you earn, you are better able to keep your home and car. You invite financial difficulties into your life by living “on the edge.” Don't spend frivolously, living in houses and driving cars you can’t afford. If this is you, and you don’t put the brakes on your spending, a crash is inevitable.

  • Sleep better at night. Every financial responsibility you remove from your life increases your financial security and decreases your level of stress. It's a win-win, financial and mental health! It’s simple really. One thing is easier to handle than two. Two things are easier to handle than 10. And if those 10 things come with a big price tag? You’re simply increasing the chances that life can knock you off your feet and impact your peace of mind.

When you have a proactive financial plan, you can look forward to the future with more hope and confidence, and you will have a good handle on how to manage things if your spending can be decreased! With fewer financial obligations, you’re able to have a surplus for future needs and wants and better peace of mind! While it helps, tremendously, spending less money isn't the only way to reduce your expenses! Tune in next week for Part III of this series, when we'll focus on another approach to spending less than you earn...increasing your income!


#ZetaPhiBeta #ZetaPhiBetaSorority #FinerFinance #FinerFinanceFridays #ZetaFinance #FinerFinance

70 views0 comments

Recent Posts

See All


  • Facebook - White Circle
  • Twitter - White Circle
  • Instagram - White Circle

© 2017 Finer Finance . All Rights Reserved

Soror Melissa Walton-Jones, Zeta Phi Beta Sorority, Inc.

2020 Candidate for Re-Election: International Tamias