CFO Talks: “10 ways to save up for Benici clothes” - Part I: Saving Up Without a Time Goal

You are convinced, you want to get a new custom garment.

The question now is: how are you going to fund your purchase?

It turns out that saving up is easier than you expected. I have decided to split my suggestions in two groups: one is for all the people that do not have a time goal in mind, and the other is for those of you who want to get something within a certain time frame.

Let’s start with 5 suggestions that you can follow if you do not have a time goal in mind.

1 – Save up your coins

Yes. That is right. Much like you used to do when you were a kid, you could decide to save up every coin of a certain denomination. I always suggest to imitate Nico’s grandma, who sets aside every $2 coin that she can get her hands on.

2 – Reward Yourself

Still struggling to get to the gym on a daily basis? Ever thought about rewarding yourself when you achieve your goals?

Make a little box and set a prize. Every time you get to the gym, or achieve the goal that you had in mind, simply put the prize in the box. Don’t forget to keep track of your progress to see how many more rewards are needed before getting your next suit.

3 – Say no to unhealthy habits

A lot of people have unhealthy habits that turn out to be quite expensive. Here is my solution.

First, take a box. Second, ask yourself: “How much will it cost me today to smoke/drink/eat junk food?”. Third, refrain from your bad habit, and place the money that you would have spent daily in the box. Any time that you “fall back”, you must use the money in the box. How quickly can you get to your goal?

4 – Sell what you no longer need

Let’s be honest; we all have things we don’t need. You’d be surprised how much value may be hidden in your closets, basement, or garage. Simply take a few pictures with your smartphones and upload them on Ebay, Kijiji, or any other website that you may like. A physical garage sale is also a very good option.

5 – Think Different

If you live in a big city you will understand too well the pain of going out on a weekend when you are trying to save up. A dinner with friends, a visit to a bar, and cover at a club will quickly flatten your wallet. Well, it might be time to bring some change to your life!

Think about how much you usually spend when going out with friends. Use this estimate as a benchmark, then find an alternative that will cost you less. (House party, potluck, movie night, bonfire at the beach..you name it!). Lastly, set aside the difference and put it in a box.

If you want to set a time goal check out: “PART II: saving up with a time goal”.

How do you save up for the things that you like? Feel free to comment below and share your thoughts with us.

 

“Benici, bringing made in Italy right to your doorstep”


Jad Azar
Jad Azar

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