5 Best Practices To Save Money Today

Saving money has always been important to me.

Growing up, we didn’t have money.

I was forced to learn how to save money at a young age, and along the way, I’ve learned a few tricks and tips.

And with Covid-19 still in effect, increasing inflation, and the likelihood of no further stimulus checks, we’re all looking for more ways to save money today.

In this post, I’ll share with you five best practices on how to save money today.

Let’s dive in.

1: Cut Back on Expenses

When it comes to saving money, one of the best things you can do is to cut back on your expenses.

But first, it’s important to note that cutting expenses doesn’t mean living a less-than-average lifestyle.

You can still enjoy life while cutting back.

As Ramit Sethi points out, focus on cutting back on your top 3 cost buckets.

In my finance days, 80% of costs came down to 20% of your categories (Pareto principle).

For most of us, these costs include:

Rent
Dining out
Personal expenses (clothing, toys, etc.)

To cut back on expenses in these areas, determine the following:

Rent

Rent is easily at the top of the highest cost buckets for most.

So reducing this cost can make a significant impact on your savings.

Ask these questions:

Can I find a cheaper place to rent?
Can I room with a roommate?
Can I sublease?
Can I move to a lower cost of living (LCOL) area?

One way to start seeing potential is to plug numbers into your spreadsheet.

Play with scenarios, e.g. “If my rent was $500/mo vs. $1000/mo, what would that look like? Where would I live in that range?”

You’ll quickly start to get some great ideas on how to lower your rent costs.

Dining out

When it comes to dining out, many people tend to overlook the fact that it can be one of the hardest areas to cut back on.

In fact, the average American pays $232 a month for commercially prepared meals and eats out four to five times a week.

Take $232, multiply by 12, and you get a staggering $2,784 spent eating out.

Personally, I’ve spent upwards of $5k on eating out….

That’s savings that could have gone towards investments.

You learn 🤷‍♀️

Questions to think about when cutting back on dining and eating out costs:

Can I cook at home more often, perhaps using things like the Instant Pot?
Can I replace full meals with appetizers?
Can I set a budget goal to eat out at specific frequencies?
Can I dine out only when I hang out with friends?

Be gentle when cutting back.

It’s hard to slash away dining costs, so strongly consider which areas you’re okay cutting back on. E.g. eating out 1x per week vs. 5.

Personal expenses

The next category that eats a big chunk into savings is personal expenses.

Personal expenses, also known as discretionary spending, include:

Entertainment
Travel
Clothing
Toys
Electronics
Gadgets
Movies

To reiterate, there is NOTHING wrong with spending on yourself.

The key, though, is to focus on your budget and what you’ve allocated yourself to spend.

For example, let’s say you allocate $100 dollars every month to spend on yourself. That’s $1200 per year to spend on yourself.

And if you save more than you spent, you can also consider rolling that amount over to next month.

Here are some questions to ask yourself when thinking about cutting back on personal expenses:

How much can I reduce my monthly expenses by cutting back on personal expenses?
Can I make better use of the personal things I’ve already purchased?
How much have I spent year-to-date? Why?
If I increase my budget, how does it impact my overall savings?

Too often, we feel trapped by our budgets. To me, that’s not a real budget.

A budget is flexible and is meant to work for you.

So long as you set a budget for yourself and stick to it, spend away!

2: Find Deals Online

One way to save money is to find deals online.

There are a number of websites that offer discounts on products and services.

You can also use apps like Honey that automatically find you great deals. I love this app because it searches for coupons for you and then automatically applies them to your basket.

How easy is that?

If you’re an entrepreneur, it can be tough to spend on monthly software subscriptions.

Instead, consider lifetime deals.

You can buy lifetime software deals at sites like Appsumo, Pitchground, and SaaSMantra where you pay once and get the product for life.

This is a great way to save money for your business.

3: Use Cashback Rewards Programs

Cashback rewards programs are a great way to save money on your purchases.

By using these programs, you can earn cashback on your purchases every time you make a purchase.

Some of the best credit cards for earning cashback include:

Chase Freedom
Chase Sapphire Preferred
American Express Blue Cash Preferred

Depending on the card, these cashback rewards can add up quickly.

Always remember to pay off your credit card monthly bill statement in full, so that you don’t owe any interest or debt.

4: Save Money Today Using Coupons

Coupons can be a great way to save money when shopping.

I personally have used both physical and digital coupons.

Hey, a deal’s a deal!

One app that I love using to find digital coupons and deals is Honey.

Honey is a free app that helps you find amazing deals and coupons for you automatically.

For example, when you’re ready to purchase an Appsumo software tool, just hit the Honey chrome extension and will show whether or not it found a deal. See my screen below:

Leverage coupons to your advantage to start saving money today.

5: Make a Budget and Stick to It!

Making a budget is one of the best ways to save money.

When you have a budget, you know exactly how much money you have available each month and what you can spend it on. You can also track your progress over time and see how much money you’ve saved.

What I love to do with my budget is to make it visual.

That means creating graphs and charts to showcase your financial progress.

An app I recommend trying out is YNAB (You Need A Budget).

It can be relieving to see your savings accumulate, which means more money for investments, projects, and more.

Here are some tips for making a budget, all of which can be in YNAB:

List your income sources (W2 job, side hustles, businesses, crypto)
Then list your monthly expenses. Include things like rent, utilities, groceries, transportation, and other bills.
Review your net savings percentage (income less expenses divided by expenses). Higher the percentage, the better (I like to aim for +30%)
With your budget in place, now figure out how much money you need to live comfortably

Making a budget is a powerful activity.

I’ve had my budget since 2009 and review monthly.

It’s a great reminder of why I save in the first – freedom, flexibility, comfort.

Plus, a budget helps you see things differently. Ask yourself, could I make more money via a side hustle?

Hmm….

Save Money Today

Saving money can be tough.

It’s not always easy saving and knowing that you’re also foregoing that fancy trip, car, or big-ticket item.

However, I would argue that it’s worth it.

Not having to work for another corporate?

Sign me up!

I hope this blog post about the 5 Best Practices to save money today helped you.

Embrace the Savings!

My mentee passed away

The news came as a shock.

It happened one week ago.

I learned of the news from a former colleague who pinged me via LinkedIn.

My mentee was only 29 years old.

I still have vivid memories of when we worked together.

He had joined fresh out of college.

His manager left one week into his newfound finance career.

In a short 6 weeks, he was already on the chopping block.

I mean, how the hell can you expect some kid to learn a job and get up and running without any support or training.

The next part I will always remember.

I booked time for us to sit down and train together.

He broke down and cried.

He said, “Yarty, I think I’m going to get fired.”

It made me incredibly sad to hear this.

So I took it upon myself to train him.

And that’s what I did.

I also did it because I knew about his past.

He had also lost direct family members.

It’s extremely difficult to perform under those circumstances.

Why do I know this?

Because I went through it.

Depression’s a bitch.

To anyone who may be suffering, my heart is with you.

This battle is the most difficult battle of our lives.

We will fight it together.

To my friend and mentee — I hope you’re in a better place.

You will be forever missed.

From family to friends to colleagues, we will miss you.

RIP bud.

Please wake up

“Please wake up.”

There I was, in the first grade, witnessing my own mother trying to end her life.

I was so young I didn’t quite know what was happening, but I did know that she wasn’t breathing.

It was the four of us, and we were crying our eyes out hoping she would wake up.

“Please wake up,” I said as tears fell down my cheeks.

Please wake up.

We were just kids.

Experiencing these kinds of moments at such a young age is hard.

Normally, kids and families shower each other with love and affection, have family picnics with friends and relatives, enjoy their childhood, and not have to face the harsh realities of death, sadness, depression, and loneliness at a young age.

My mother faced many demons, many of which I didn’t know about till much later.

While growing up, we lived through an extremely difficult childhood as my father would constantly scream and shout at us while our mother would guzzle her favorite alcoholic beverage every night.

And after that, my dad would go on to scream at our mother, which then our mother would scream right back at us. It was a vicious cycle.

Every day felt like misery.

There were so many memories of me crying in my bed, praying I wouldn’t be screamed at again. My siblings went through the exact emotions – we were in constant fear.

You never forget.

Those memories will forever remain

As I’ve gotten older, those memories have never disappeared.

Sometimes, those memories motivate me to do more and persevere. Other times, those memories drag me down. I’m human.

My mother ended up suddenly passing away 18 years ago while I was still in high school.

I was right beside her to witness her breathe her final breath. Down to the last hour and last minute.

It was painful.

You’re not alone

For those who have experienced something similar, just know that I empathize with you.

Although you may not hear it every day, you’re loved and cared for. This world can be very misunderstanding, but know that there are many, many others out there just like you.

You’re not alone.

You will persevere.

You will get through this.

Have you experienced something similar in your life?

Let me know by leaving a comment or messaging me.

Embrace the grind.

Look inward

The days are long.

It can be tiring and exhausting.

Some days, you wonder why is everything piling up on you.

“Why me?” you’re asking.

But sometimes, we should try asking “Is it because of me?”

We always have a choice.

A choice to be better, to improve, to change course.

Look inward.

Find a happy medium.

Push forward.

Happy Holidays!

As 2021 comes to a close, I’m reflecting on what a journey this year was.

Despite Covid19 and the continuing pandemic, it was another strong year.

Personal growth, new and recurring business, embracing new challenges, and connecting with more amazing people.

Every year during this time, I spend 𝟮 𝗵𝗼𝘂𝗿𝘀 𝗮𝗹𝗼𝗻𝗲 𝘁𝗼 𝗿𝗲𝗳𝗹𝗲𝗰𝘁.

Here are few questions I spend thinking about:

What did I accomplish?
What can I be proud of?
Am I still passionate about what I’m doing?
Did I help my friends achieve their goals?
Am I regretting anything? (regret minimization framework)

I use this time to reflect on what matters most to me.

I make it a priority to be open and honest with myself.

Because if I don’t, I’ll lose key insights not only about myself, but the things happening around me.

We seldom have time to think about ourselves.

Use this time to be deliberate and intentional.

After I’m done, I then send my insights to myself one year from now via FutureMe.

It’s a great way to remind myself of why I do what I do.

It also keeps me grounded in what matters.

Thank you for reading, I hope you enjoyed this.

Let’s all end 2021 strong.

Embrace the grind.

Why do I write?

“There is no greater agony than bearing an untold story inside you.”
Maya Angelou, I Know Why the Caged Bird Sings

Why do I write?

To write better.

To write clearly.

To write with a purpose.

To write with passion.

To share stories.

To connect with people.

To build relationships.

To never regret.

To pass down knowledge.

To open doors.

To close doors.

To live life.

To live freely.

To be me.

That’s why I write.

𝗪𝗿𝗶𝘁𝗶𝗻𝗴 = 𝗰𝗹𝗮𝗿𝗶𝘁𝘆 = 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 = 𝗴𝗿𝗼𝘄𝘁𝗵

Your thoughts? Why do you write?

Here’s why gratitude matters and can change someone’s life

Immediately after graduation, my world flipped upside down.

I experienced tragedy. Again.

For the next 3 years, I was a zombie.

I was lost, disengaged, and helpless.

In 2012, in search of a new role, I interviewed with a relatively unknown company called Vistaprint.

Still shaken by past events, I was nervous. But something was different here.

I was happy, laughing, and hopeful.

The team welcomed me, cracked jokes, and calmed my nerves.

For the next 5 years, we worked hard, ate lunch, and laughed together. I met some of the best people during this phase of my life.

I am forever grateful. They believed in me and helped me get back on my feet.

Now, I apply the same experiences to my businesses and team.

We share our gratitude and do our best to make sure people are happy, excited, and hopeful.

Your thoughts? Who has helped you that you feel grateful towards?

P.s. Our giant presentation decks we used to create. So many late nights, so many great memories 👇

How I Push Myself To Do Uncomfortable Things

Uncertainty is inevitable.

Fear is inevitable.

We all experience it.

But how we deal with it is a different story.

After trying and experimenting many different things over my 3 decades here on Earth, here’s what I have learned.

Are you proud of what you’ve done?

Is this who I am? Someone who doesn’t take action?

Those two phrases power me every day.

Whenever I face a difficult challenge, I ask those things.

Cold email, networking, jumping on a call, podcast, etc.

They all scared me.

BJJ, MMA, boxing, wrestling.

I’ve done these for over 20 years.

I’m still scared.

But the trick is, I ask those two questions mentioned above to get me fired up.

Is this just me?

The thing is this.

We all CAN change.

It comes down to a choice.

What choice will you make?

Remember this: whatever’s happened in the past is the past.

You CAN change.

Take action.

Be fearless.

Live without regrets.

Don’t be that person

“You’re never going to change.”

“That isn’t you.”

“We’ve been together 20 years. Don’t bother.”

“You say you want to do. But you won’t.”

“You don’t have confidence.”

Please don’t do this.

Don’t discourage people.
Don’t kill someone’s dreams.
Don’t put people down.
Don’t place insecurity onto others.

Instead, do this.

Be encouraging
Be loving
Be supportive
Be open-minded
Be creative
Be a partner
Be loyal
Be a fighter
Be hopeful

Be positive vs. negative.

Be supportive vs. unsupportive.

Be hopeful vs. pessimistic.

Be loving vs. uncaring.

Be open-minded vs. close-minded.

Here’s the thing.

The world is your oyster.

You never know what can happen.

So why not choose the path to happiness and exploration.

That’s how to live.

An ounce of happiness

Everything means nothing when all is gone.

You won’t take your cars, your houses, your money to your grave.

Your status games, your desire to show off, your need to please.

None of it matters.

So focus on what makes you happy.

Maybe it’s taking a walk outside at night.

Maybe it’s tinkering with toys.

Maybe it’s a hot meal out near the beach.

Whatever it is, do that.

Be happy.

In a world where social media reigns supreme and everyone is trying to go viral, stick to what makes you happy.

Sanity is nice.

Forget your pride

Yes. You heard that right.

Forget your pride.

Forget trying to be right.

Forget trying to always be number 1.

Forget trying to stomp all over everyone.

Forget trying to prove everything to everyone.

Forget being miserable.

Forget being prideful.

When all’s said and done, and the ashes have cleared, only the people who truly matter will remain.

When they’re gone, they’re gone.

Forget your pride.

Let them know how much you love them.

Don’t wait.

Don’t let your pride sink in.

Just let the words out.

Be grateful.

Time is limited.

Time is precious.

This is our one life.

Our one and only life.

The Grind.

*Originally posted back in May 7, 2017 after leaving my corporate job

What is the “grind”?

My definition of the “grind” is the ability, determination, and willingness to push through an obstacle, despite the unnerving challenges ahead.

This can be working hard at your job to finish a project deadline, working through the Nth hour on your small business, or even anxiously pummeling your way to complete your last set of push-ups.

As a wrestler and lifelong martial artist, I’ve sustained numerous injuries, puked my share of times after practice, and generally felt like giving up.

But I would always recall the “grind”.

How could I look at myself and just quit?

How could I allow myself to just stop when the going got tough?

I can’t.

To grind through tough circumstances is what develops character, strength, heart, and dedication.

It can be hard though.

Fear, rejection, and anxiety. We all face it.

But what’s important is to remember we will endure it.

We will get past it.

You can grind through the pain.

And remember, when you do, cherish every moment.

Soak it all in.

You earned it.

Because when you take a step back, you tell yourself, “I did this. On my own”.

Grind through the circumstances.

Grind through the challenges and obstacles that lie up ahead.

You’ll be proud of yourself for having done so.

Your Belief In You

*This was originally posted on May 13, 2017

“I can’t do this.”

“I’ve never done this before.”

“Why does it matter. I’ll fail anyways.”

How many times have you or someone else you know said this?

I know I have.

I’ve passed up on many opportunities due to the lack of self-belief.

But why do we think this way?

Growing up, I’ve had to be my own champion.

I had to pump myself up before big events, whether it was interviewing for a new job or competing in a grappling tournament. Rarely did I have someone nearby to say, “You can do this. Believe in yourself.”

Rather, the opposite and would go something to the effect of, “You could get hurt! Why bother? It’s a waste of time!”

I remember those moments. For whatever reason, I couldn’t get those words out of my head.

Now older, I believe more than ever we need to be our own champions.

We need to tell ourselves that it’s possible, that we have the ability to mold our circumstances, that we have to be intrinsically motivated.

We need to fight for what we want in this life.

I remember the first time I stepped into the cage for my MMA debut.

It was easily the most nerving moment of my life. I mean, I was about to step into a cage, in front of hundreds of strangers, with another man who wanted to hurt me.

I was ready to face the very real possibility that I could have my arm snapped off or be knocked unconscious. Publicly, no less.

But I also believed in myself I was ready. Why?

I had completed an eight-week training camp, sparring week in and week out with the best training partners and having the best coaches around.

I knew I prepared the best I could. I was training twice a day, 6 days a week for my fight.

I knew in my heart that regardless of the outcome, I put in the hard work and dedication. I believed in myself.

Thankfully, the result was positive. I won.

With all that said, believe in yourself.

Believe in yourself when no one else will.

We’re our own worst enemies, and more importantly, our own strongest advocates.

It’s amazing what humans can achieve when we believe in ourselves.

Remember, time flies and days become months, months become years.

Whatever is on our minds that we want to achieve, take the first step. Just take an action.

You won’t regret it.

Fearing the Unknown

Table Of Contents

Memory lane and where it started
There’s a silver lining in all of this
A new day to make a difference

*This post was made back in 2017.

“What gives your life purpose?”
Les Brown

I first heard this line maybe a month ago while randomly scrolling through YouTube.

Such a simple line.

So simple that I saved the video and now listen to it once a day.

And so I asked myself, what is my purpose? What do I have to fear?

Memory lane and where it started

During my days at UMass Amherst, I vividly recall asking myself where I wanted to be, what I wanted to accomplish, what were my dreams, and, like so many others, how I would make money (I still think about this).

There were many hard, painful days.

But the one thing I feared more than anything, more than any broken bone or punch to the face I’ve taken, was failing myself.

Giving up, to say it another way.

I remember when I failed an exam.

I remember when I lost my wrestling matches.

I remember not being accepted to my college of choice.

Heck, I remember when I cheated out of my lifting sets!

There’s a silver lining in all of this

But I remember the positive impact from all those experiences as well.

I learned I could deal with adversity, that I could own up and face my fears.

It wasn’t easy, and I’ll never advise that to anyone.

But it’s also why I savor those moments. We all can.

Because we can live to tell about it one day.

A new day to make a difference

With all that said, I continue to ask myself that very same question to this day.

What is my purpose?

What do I have to fear?

I know one thing’s for sure – I’ll keep pushing forward.

We only have this one life.

Live it.

How The Anchor Effect Can Lift You Through Tough Times

Table Of Contents

What is the Anchor Effect?
How You Can Use The Anchor Effect To Lift You
My Personal Story
Conclusion

If you’re going through hell, keep going.
Winston Churchill

Many times in our lives we’ll face extremely difficult, almost impossible challenges.

Oftentimes, they happen randomly and unexpectedly.

You’re not prepared for them.

However, time and time again we’re able to face these challenges head-on.

Successfully or not, we get through them.

Let me share with you what I term the “Anchor Effect” and how it has helped me time and time again throughout my life.

What is the Anchor Effect?

Let’s start with how Wikipedia defines it.

“The anchoring effect is a cognitive bias whereby an individual’s decisions are influenced by a particular reference point or ‘anchor’. Once the value of the anchor is set, subsequent arguments, estimates, etc. made by an individual may change from what they would have otherwise been without the anchor.”
Wikipedia

In simple terms, our decisions are based on some previous experience we’ve had.

This is where my definition of the “Anchor Effect” comes into play for maximum, positive impacts.

I define it as “the ability to overcome inhumane, giant obstacles or challenges by leveraging past difficult experiences”.

Said another way, when you face a hard problem or challenging task anchor it on a previous hard experience.

How You Can Use The Anchor Effect To Lift You

Take a step back.

Breathe in.

Recollect all your challenging moments in life.

Remember what you felt in those moments: despair, disappointed, anxious, fearful.

Recall how, despite those emotions, you managed through.

Now let those moments be your guiding light for any difficult choices, decisions, or challenges up ahead.

Doing hard things becomes easier.

Because you’re allowing yourself to embrace fear, to embrace the difficult that lies ahead.

It’s only through these moments we truly find ourselves and what we’re capable of.

When you’re faced with these moments, write them down.

For example:

Create simple google spreadsheet
Write list of challenging experiences
Date each experience to reflect on
List how you managed through them and the impacts they had on you
Review periodically

This will be your “bible” when you face difficult challenges.

Your fears, your doubts, they won’t seem so big because you’ll be able to anchor them on your previous experiences.

My Personal Story

The “Anchor Effect” has been a big part of my life.

15 years ago, I was left homeless, penniless, and without family.

To be honest, I still don’t know how I managed to get through those times.

But deep down, I knew I would not quit.

Deep down, I knew I was a fighter. I was meant to fight through this.

Fast forward, being able to recall those tough experiences ultimately toughened me.

I learned to embrace fear head-on, to tackle the impossible, and to try new things.

The Anchor Effect is powerful.

It will make you do things you never thought imaginable.

Conclusion

So when you face life’s toughest moments (which will be many), refer back to the “Anchor Effect”.

Let it be your compass.

Know that you will get through these challenging moments.

That you will become stronger and more powerful from it.

Let those moments define you vs. breaking you.

Become a better version of yourself for it.

To my friends I’ve met throughout the US and the world, you inspire me.

It’s because of you I wrote this. I’m grateful we’ve had the chance to connect.

I’m reminded we’re not alone.

Stay strong.

Embrace the grind.