Managing Your Finances - Tips & Strategies To Hit Your Savings Goals | Coralie Campbell | Skillshare

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Managing Your Finances - Tips & Strategies To Hit Your Savings Goals

teacher avatar Coralie Campbell, Content Creator and Media Maker

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

13 Lessons (19m)
    • 1. Introduction

    • 2. Set A Goal

    • 3. Monthly Goals

    • 4. Make It A Game

    • 5. Consider Your Purchases

    • 6. 24 hour Rule

    • 7. Set A Challenge

    • 8. Change Counts

    • 9. Know Your Worth

    • 10. Raise?!

    • 11. Investing

    • 12. Immerse Yourself

    • 13. Final Thoughts & Project

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About This Class

This class is all about different tips, tricks and strategies behind hitting your financial goals. Whatever you may be saving for, this class will help you get there and leave you feeling motivated and inspired to save, save, save!

Meet Your Teacher

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Coralie Campbell

Content Creator and Media Maker


Hello! My name is Coralie and I’m a YouTuber from Australia. I’m extremely passionate about all things cameras, be it photography, videography or just filming/editing a fun little YouTube video!

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1. Introduction: Are you ready to get your finances in order? Are you looking for some tips and tricks to finally save that money and hijo financial goals, this class is all about how to save your money so you can finally hit those goals, whether that is a return plane ticket to San Francisco. Yes. I know that is a terrible example in today's economy, but you know what I'm talking about? Or maybe you're like me and you're looking to buy your first home. And to do that, you need a decent chunk of savings to put down on a house deposit. Or maybe you're just terrible at saving and every time you get paid, that money just magically disappears from your bank account. It's happened to all of us. If this sounds like you, then this class is for you. We're going to share tips and strategies. And I guarantee by the end of this class, you are going to be inspired and feeling motivated to save your money and hit all those financial goals you've always set for yourself. 2. Set A Goal: Okay, so this first tip might seem kind of obvious, but that is to set a goal and you need this goal to be specific. So don't just be like, ah, I want to save money this year. I mean, that's a good go. Don't get me wrong. But my specific goal is I want to save $50 thousand. I know that sounds like a lot of money, but the main reason behind that Gulf of me is, like I said in the introduction, I want to buy a house and 50 thousand is a pretty decent has deposit. Sorry, my goal is to save $50 thousand. And if I can do even more than that, that's amazing. But I'm not going to make my goal $100 thousand because for me that's just unrealistic. I don't have a high enough paying job that's going to give me $100 thousand to save in the IEP at 50 thousand is realistic, but it is still challenging, sorry, find a goal that fits for you. Whether that's $5 thousand for a holiday, $50 thousand for a house to play with. 3. Monthly Goals: Okay, so my next tip is to have a monthly goal. Now, this monthly goal has to be more than what you're earning, but don't make it completely unachievable. So for example, if you are earning $3 thousand a month, don't make your months they go to and $40 thousand because there's no challenge in that. Sorry, I'm going to tell you my and my month they go is I wanted to have a $5 thousand month. So I've done some little calculations here. And the thing is from my full-time job, I've worked out that I make around $3,200 a month. So that means I have to find a way to make an extra 10000, $800 if I want to have a $5 thousand month, sorry, am I going to make money from Scotia? Am I going to make money from my youtube channel? Am I going to sell things online? I don't know how I'm gonna do it, but it's going to be a challenge and it's going to be achievable. 1 $1800. I can find a way to make that. I'm going to have a $5 thousand a month. 4. Make It A Game: My next tip and strategy for earning more money is to turn it into a game theory. The way that I do this is that I am currently documenting all my earnings. So every time I get paid, I brought it into Google sheets or Excel, whatever sort of documenting app you have. Say I get paid $800 on a Wednesday. I'm going to write that down in my spreadsheet for say, two days later, I get a $100 paycheck from YouTube. I'm going to add that into my spreadsheet and then say three days later, I sell a jumper on D pop for $20. I'm going to add that into my spreadsheets or all of a sudden, the total is how much money did I say I made like $920 and I'm going to do that for the entire month. And then I can see exactly how much money I've made in the month of January. And this is where the game part comes into it because in February you have to try and beat that number so you have to find ways to make extra money, whether that saying yes to that extra shift, whether that's putting a few more things for sale on day pub, whether that's finally starting that YouTube channel. And hitting that monetization goal, you need to find a way to beat yourself every month. 5. Consider Your Purchases: So consider your purchases. Let me tell you this. $10 a day on a silly little thing such as coffee and buying a sandwich out for lunch. This adds up to $3,650 over an entire year. So $10 a day. It doesn't sound like much but added up over the entire year. Money only goes ahead. Sorry, basically from little things, big things guard. So you need to make that growth your savings, not just spendings because imagine saving an extra $3,650 a year. Sorry, crinkly thing under the purely because you made your coffee at home before work and you pack your lunch. I literally have an entire talk about packing lunch in a minute. Just just bear with me here. Okay. Sorry to consider your purchases. Basically, I bought a new laptop at the start of the year, Hilary. Here it is like, I am good for technology. The one thing I do want to talk about the camera I'm filming on right now. I've dropped it so many times. The zoom lens doesn't really work anymore. Or I feel like that's a purchase I'm going to have to make at some point this year, I'm going to have to buy like a $300 new camera lens purely because it's going to make my business better because I'm going to have a liking camera lens, sorry. A purchase like that. You can justify it because it's for your business, but going and spending $500 on print as polyfit kidney clothing. Maybe think twice about it. Sorry. In terms of this considering your purchases, I just started a new job and last week I bought up to pack what was just one wrap cut in half, but it was a wrap and this cost me $6. So this was my lunch for the day. Now, if I did that every day for five days, it would cost me $50. I did some quick little mass. I did some searching on calls and Willie's and all that sort of stuff. And I found that if I went to the shop, I could buy an 8-pack of wraps ahead of iceberg lettuce and some flavored tofu and all up. That would cost me $9.50 and I'd have enough ingredients for lunch for the entire week. So that's $9.50 for lunch versus $30 for lunch. And honestly, I recommend my homemade one would taste so much better because the $6 wrap that I bought wasn't even that good, which is very disappointing. And that $6 could have gone into savings, sorry, considerable purchases. And understand that from little things, big things grow, and that counts for your spending as well. 6. 24 hour Rule: If you are going to buy something, have you ever heard of the 24 alpha rho? So this is where you put 24 hours between wanting to purchase something and purchasing something, sorry, say you, wanting to spend $500 on those cute dresses on princess Pali. Don't just click checkout straight away. Come back to it in 24 hours time because chances are in 24 hours time, you're not going to feel the same way about that item and that impulse feeling to purchase that has gone, sorry if you put time between you and you'll purchase, chances are you're not going to want to anymore and you're going to cite that money. And if it's a big purchase, maybe white awake. So if you do want to buy a new laptop, Think about it for a little while and make sure you really do need this new laptop. And it's going to be beneficial. Put awake of thought between it. Don't just make impulse purchases. That's where your money goes. Uses. 7. Set A Challenge: Okay, next is set challenges. So I am going to do a challenge this year and it's coded frugal February, sorry. Part of the reason for this challenge is I want to document it on my YouTube channel. I think that'll be a lot of fun, but basically, frugal February means you don't spend any money unless you have to be. So your money is going to your petro, you'll food. Any medical appointments or anything like that, anything that is essential for your living. You are not spending money on clothes. You're not spending money on DOI knots. As delicious as they are, not spending money on home decor. You'll only via the essentials for the entire month and then add up everything you spend at the end of the month and see how much money you spent and how much money you saved. I think that is super exciting and the fact that it's kinda like a game. So another one that I'm doing as a challenge is have you ever heard of habit trackers? So this is the type of thing where each day you do something, you take it off or you colored in. So I say you will have it check it is to exercise every day, every time, every day you exercise, you color it in, and every day you don't exercise your dark color it in so you can see exactly how good you're going with your habit. Sorry, the one that I really enjoy is the No spend habit tracker. So every time you go a day without spending anything, you color in the day of the month. So it's very exciting. It becomes almost addictive because you want to color in as many squares as you can. So when you get home from your day at work and you sit down at your desk at seven PM, You're like, yes, I didn't spend anything all day. I get to color in my little box. It's very exciting. It just makes you think twice about your purchases. It's like boom, I could buy lunch for $6 or I could just bring my own lunch. And then I've gotta know, spend day I get to take off on my habit tracker. 8. Change Counts: Cash counts, sorry, save your cash, bank it every few months. Honestly, you'll be surprised how quickly it can add up. So I personally weck At a pizza every Sunday evening and they pay in cash. Sorry, as soon as I get home from that shift, I take the cash and I put it in a money books. This exact money books to be exact. Now, it is a travel fund. 2021 Things. It's now a house deposit funds there. I put all my cache in here because it's not in my wallet. I'm not tempted to spend it. And three months or so, when I get to go to the post office and bank a couple $100 and have that turn up in my bank account is very satisfying. So if you have $5, put it away, save it up, and when it adds up to a couple, 100, go and bank it baby. 9. Know Your Worth: Understand your wealth in terms of this, it means consider not doing it for phrase, sorry. If you are an amazing photographer, you can monetize that. You can pay people. No, that's not how it works. You can have people pay you for photo sheets. They are using your talent, your time, your skills. Monetize that, understand you know what you're good at and charge for it, charged your wealth. 10. Raise?!: Next is aimed to get a rise. Sorry. I know that this isn't possible. In ochre is, but it's good to put it in the back of your mind and think about it. Because, you know, if you deserve arrays like you know, if you're working harder than what you're getting paid and sometimes it doesn't hurt to ask. I mean, I know in some careers, that's just not possible. Like when I worked in childcare, you got paid for the amount of years you flag there and the certification, you couldn't just get arrays. But if you're working as a marketer, I don't really know. Maybe there's a possibility to get even a $0.50 raise like that, adds up, put it in the back of your mind and just think about it. 11. Investing: Sorry. This is a money class. This is expected. Get into investing. Yes, let's talk about it. So I'm going to read this fit off my computer here because I've written down all the GSD little details. So I started investing a few months into the last year. Sorry, I haven't even been there's a lot of junk onto my desk. I'm sorry. I haven't even been investing for 12 months at the time of filming this video. And I use the rise, which is a micro investing app. It rounds up from what you've spent. So if you spend $4.50 on a coffee, which you shouldn't do, make it at harm. It'll round up $0.50 and it will invest that for you. Sorry, in the last however many months, I've been using this app. I've invested over a $150 and in that time I've made $43 of market returns. That's almost two hours at my current job of just free money purely because I'm investing. That's so cool. And four of those dollars from dividends. So just think if you did this constantly over the long-term, because investing is a long-term game. If you were investing for 40 years and he had like a hundreds of thousand dollars in your account. The amount of free money that would come out of that from compound interest is insane and you can retire and pretty much live off your dividends. It's what's the wed Oh my God. Passive income. Sorry, good. Get into investing. 12. Immerse Yourself: Next, involve yourself in it. Involve yourself in it. What am I talking about? Cape listening. Sorry. It really makes a difference with who you surround yourself with. If you're surrounded by people who, by Gucci. I do just want to point out, this is not real Gucci. Oh my God. I bought this artwork because if you zoom up, it's actually harry styles. It's very beautiful, which just happens to have Gucci written on it. This is a terrible example talking about Gucci. Not real, didn't cost me $10 thousand. Trust me. But if you surround yourself with people who buy Gucci and go out every night and by the $15 cocktail, chances are you're going to join in every now and again and don't get me wrong, nothing wrong with that. Have the $15 cocktail if you want, but if you're doing that every weekend, well, it's going to add up, trust me. But if you're surrounding yourself with people who take it in tens hosting dinner and have free walks around the POC. You're gonna save money together. If you are around like-minded people who also are interested in saving, you're going to encourage each other. And now I'm not saying did show your friends because they lack called pales. Absolutely not. You can involve yourself in other ways. Sorry. Listen to a finance podcast. I'm a sucker for this. She's on the Money podcast. I find it so inspiring. I watch so many financial YouTube is Graeme Stephens, hell, yeah, I'm watching him and tragic hell, yeah, I'm watching him. I find it so inspiring. And along with that, I have a lot of finance books or is it hypocritical to go out and buy books to learn about saving money. Maybe, but it's totally worth it because when I read those books, I leave feeling inspired and motivated and ready to save my money. Sorry, if you are the type of s And that also gets motivated by this kind of stuff. Listen to the podcasts, watch the YouTube is read the books. 13. Final Thoughts & Project: Basically, what I am trying to say is be frugal. It's R k to be frugal and not want to spend your money and go out for dinner every second day and not order food in. Go to Kohl's. Do you shop, cook it yourself? They free ego. Be passionate. Yes, you have to be passionate about this and strive towards your goals. Do you want to be a millionaire by 30? Why the heck not? You can do it. Anything is possible, you've just got to be smart, be passionate, and understand your money habits. If you know. You buy coffee and lunch out every day, add that up and see how much money you're spending every year, and see how much money you could be saving. And this could be going towards your goal. Bfs latch to San Francisco, a house deposit or a millionaire by 30. But thank you so much for watching this class. I know the fiscal shock losses are supposed to have a project. Sorry, I want you to sit down, work out your GL and share your go. So are you saving for a holiday? You saving for a house? You just saving because saving is important. Let me know. I'm very curious to see everyone else's goals. Mine is to buy a house. And the day I achieve that is going to be very exciting. But once I do achieve that, I'm not going to stop saving. I'm going to find something else to say four, maybe that will be a millionaire by 30 after five years, I can do it, right? But thank you so much for watching this class. I hope you found it interesting. I hope you are leaving a feeling inspired and motivated. And I look forward to hearing your goals, and I look forward to hearing you achieve those goals because you've got this guy guys.