21 Money Resolutions for 2021

2021-money-resolution-main

“Fool me once, shame on you—fool me twice, shame on me,”—do you know that saying?
You might get caught off guard or cleverly fooled by someone. Darn it. Dishonesty makes me so mad. You might feel disappointed in the person who intentionally tricked you. Now,  what if that situation or person fools you again. Really? again?  

 

Covid-19 fooled many of us salon professionals, didn’t it? One day you were fine, and the next day you were told the salon was closing until further notice. What, you said? I have bills, rent, car payments, and mouths to feed. You can’t just close the salon, you said. And they said, watch us—and they did. Slam.

 

Move on. There’s no reason to live in the past, but it was no walk in the park, remember?

Why remind you? Because we forget that another deadly virus can well be in our future. Yikes. 

 

Then there’s this, which I hope isn’t true for you or me: 145 million Americans will visit an emergency room in 2021—that’s one in three of us. Here’s more: most personal bankruptcies are due to unexpected and unplanned medical bills. I know you feel healthy, but what if?

 

So how are you planning to keep your financial guard up–or not be fooled again? My initial response would be to say you should create a budget and stick to it, but you see, I am a hairdresser, too, and I know this is not going to happen. Busted.  :–) 

 

Keeping your money smarts sharp is challenging. There are so many ways to go astray. That’s why I suggest you deploy various strategies,  actions, and goals. Yes, throw everything you’ve got at creating wealth in your life—some of it won’t work, but some of it will stick. 

 

Here are twenty-one ideas to choose from for your new year. Keep the big picture in mind:    six months of living expenses socked away in an account you never touch. Here we go: 

 

    1. Think savings. Saving is a frame of mind and a new habit you need to get used to. It’s weird in the beginning, and then gets easier, then seamless.
    2. A morning reminder.: “Where can I save something today?” Set yourself up for success. There’s going to be something, somewhere you can save on. Every little bit counts. 
    3. Spend cash instead of using your credit card. I do Cash Mondays when I only use cash for the day. I also have no spend days when I just don’t spend a penny. Just for drills.
    4. Skip the fancy latte and the mindless routines where you blow your money

 

  • Skip the happy hour; think about it; you’re going to get anesthetized, so you won’t feel what you spend. :–(  

 

  1. Don’t hang out at the mall. Really, the mall? Malls are boring, get away. 
  2. Don’t cruise the online deals –especially if you had a glass of wine or two. 
  3. Manage peer pressure. Don’t hang with big spenders. Befriend them, but don’t join in.
  4. Bring your lunch and snacks to work. You will not only eat healthier, lose weight, but your food will be cleaner and more nutritious. 
  5. Stop discounting your services and giving freebies. You are getting taken. Wake up.  
  6. If you lease a chair, are you working enough hours? Why not? 
  7. If you can’t fill your salon days, are you promoting yourself? Is it working? 
  8.  Are you posting before/after shots to social media? Keep it simple and constant.
  9. Are you rebooking every client? Why the heck not? 
  10. Are you sending a thank you or follow up text to every client? –every client. 
  11. If you are building but can’t meet your monetary obligations–get a side hustle.
  12. Pay yourself first—deposit ten percent of everything you make in savings.
  13. Use savings apps. Download free online money APPS that help you save.  
  14. Celebrate when you reach a goal—reward yourself. 
  15. Ask for support in reaching your money goals from your partner, family, and loved ones  
  16. If you fall off the savings wagon, it’s OK. Remember, it’s a mindset. Just get right back on it.

Parting shot: stop worrying about money. Instead, take one of the above, then one tiny step, no matter how small, in the direction of financial awareness. 

You can purchase an online copy of The Thrifty Cosmetologist here: http://www.gumroad.com/l/thrifty

 

Carlos Valenzuela is a Hairdresser, author, success coach, ex-salon & beauty school owner. His focus is guiding salon professionals to a more fulfilling career & lifestyle. 
Visit the thrifty cosmetologist on Facebook. Contact: . info@thriftycosmo@gmail.com

More in Home