When I first started my out-of-debt journey, I roomed with a guy from Romania. This fella did a lot of things well. In fact almost everything he did – he did well (I know, those people are hard to be around, right?). He soon earned the nickname, “Romanian Wonder” through some of his exceptional exploits.
One thing the “Wonder” did well was to save money. This guy saved money like a Great Depression was about to hit. One week he decides to save up for a $7k car and then next week, he HAS the car. It was stealth. At times, I thought he was dealing drugs or robbing banks! Have you ever been around someone like this? They just seem to manage their finances so well – money accumulates!
My older brother was like this too. One time he saved up enough money from his measly newspaper route salary to buy a $1,000 tennis ball machine (you know the kind that serves you balls?). Yeah – he must of worked a few months for this thing – denied himself all sorts of knick-knacks (that I was prone to purchase) and one day – this gigantic ball machine shows up at our front doorstep. I’m not even sure my parents knew he had been saving for this thing.
Anyway – back to the Romanian Wonder. Since I had been so bad with money – I knew this guy could teach me a few things about saving money. So, I watched him. And here’s a few things I picked up from him that I tried to employ during my out-of-debt journey (I want to stress this is not particular to one nationality here OR race.. anyone can do what he did; with the right money mindset).
- Set your goal
The Wonder set an immediate goal to purchase a car. The motivation was there too – because he had been borrowing his boss’s for a time or walking places. Setting your goal will get you going in the right direction.
- Narrow your focus
When you’re focused on your goal – you can get very narrow-minded. You’ll need this so that you aren’t distracted by the other purchases and “things” that compete for your attention and money. The Romanian Wonder was intense in his focus.
- Automate your savings
Wonder boy’s paycheck immediately went into savings when he got paid. This is an often quoted piece of advice in regards to saving – but automating your savings is key when you’re saving for a goal. Pay yourself first!