She Strengthens

Breaking Free from the Savings Trap

As a self-proclaimed spendthrift, I’ve always had a complicated relationship with money. Growing up, I’d splurge on American Girl Doll dresses without a second thought, never considering the long-term benefits of saving. This habit followed me into college, where my lavish spending landed me in over $10,000 of credit card debt. Ouch!

A Turning Point

After college, I found myself surviving on unemployment checks and living in my grandmother’s attic during the recession. Frugality became a necessity, and I learned to be resourceful and hunt for deals. This experience taught me the value of being mindful with my finances, but it also showed me that extreme frugality wasn’t a sustainable solution.

The Flaw in Focusing on Savings Alone

When I returned to Atlanta in 2012, I attempted to adopt a strict frugal lifestyle, but it wasn’t enough. Despite being employed, I was living paycheck to paycheck and struggling to make ends meet. I realized that focusing solely on savings wouldn’t get me out of the financial rut. Instead, I needed to shift my focus to increasing my income.

Earning More, Worrying Less

In 2013, I started a side hustle, offering social media and content strategy services. This extra income allowed me to pad my savings account and eventually purchase a home. I learned that by focusing on earning more, I could worry less about saving every penny.

The Power of Creative Income Streams

There are countless ways to side hustle and boost your income. It requires creativity, sacrifice, and a willingness to think outside the box. By doing so, you can stop agonizing over saving on a limited income and start building a more secure financial future.

Rethinking Priorities

While saving is essential, it shouldn’t be the only priority. By increasing my income, I’ve been able to consistently put away 25-40% of my paychecks each month without stressing over every single penny. It’s not about being reckless with money, but about finding a balance that works for you.

Time is Money

As my business has grown, time has become more valuable to me than money. I’ve learned that sometimes, penny pinching can’t be helped, but often, it’s more productive to focus on earning more. If you’re struggling to save or pay off debt, consider shifting your focus to increasing your income. You might be surprised at the difference it can make.