Sometimes in life we can get busy and overwhelmed. To blow off steam we want to hit the mall, go out to dinner or head off for a day of pampering.
Sometimes all we need instead is to remember why we are working hard and saving money.
I for one am working hard, cutting the budget and saving as much as possible for three reasons.
- So our family has more control over our life situations. We are not left to the whims of other people and companies.
- So that we have the flexibility to splurge once in a while when we are too busy or need extra time. Save when we can, so that once in a while there are guilt free splurges.
- Retire early if we want to!
So why are you saving and working hard?
I challenge you to sit down right now and write what you want out of life. What is your vision for your future? What are your goals?
Next, figure out what it is going to take to achieve those goals. No sense in having a vision with no idea how to achieve it! How much do you need to save for early retirement? How much do you need to pay a month to have all your debt gone? How much money do you need for an emergency fund?
Write out your goals and then plan them!
Use this information to keep you motivated.
Instead of throwing this information on your desk use it in everyday decisions to keep going.
- Do you want the Starbucks, or do you want to save up that daily Starbucks money for a dinner out?
- Do you want the extra leg room on an airplane or do you want to put the extra money towards debt?
- Would you rather have McDonald’s on the run or early retirement? (Max eats a lot of pre-made peanut butter an jelly’s in the car)
Why you know why you are saving it is easier to make daily decisions and keep focused on the long term. So take the time right now and write down what you want from saving your money! (below is a short video on this same thing, after you watch it please share in the comments below why you are saving!)
We save so that sometime in the next few years I can leave my job and start my own business. There’s no way I would feel comfortable do it until we were totally debt free and had 1 year’s worth of living expenses in the bank.
Good Idea, the extra comfort it creates is amazing. Lets you grow your business without any extra stress! Good Luck!
This is a good read, it’s all true as well. As easy as it sounds, for some people it’s harder to do!
@jeremy what kind of business you wanting to start up? I’m working with a startup personal finance company at the moment myself.
Very true, some people even if they know what they want to save for have a hard time not living only in the present! A learned skill I believe.