YOUR JOB or whatever you do for money HAS VALUE! Not only can it provide for your wants and needs today, but it can also FUND YOUR CURRENT AND FUTURE GOALS 😀

A bit of my story

Growing up, I DIDN’T LEARN much ABOUT MONEY. I just knew I WANTED TO BE RICH 💰. Whatever the heck that meant to me at the time🤑🤷🏽‍♀️ .

As I grew older, I worked and SPENT MOST OF MY MONEY treating myself and others.

It wasn’t until I RAN COMPLETELY OUT OF MONEY that I realized how important it was to save.

From then on, I became EXTREMELY FRUGAL. I am still pretty frugal to this day, but have learned to start TREATING MYSELF again.

And this time around, I treat myself while LOOKING OUT for MY FUTURE SELF too😉

Taking care of ourselves today and tomorrow

While it is important for us to TAKE CARE OF OURSELVES TODAY, I believe it is also important for us to TAKE CARE OF OUR FUTURE SELVES, especially IF WE HAVE SPACE in our budgets for it 🙂

NOT HAVING ENOUGH money for the things you need can be VERY STRESSFUL. I know this from firsthand experience. This is why saving has such a special place in my heart ❤

While it’s still stressful when something unexpected happens, HAVING MONEY SET ASIDE for the unexpected helps REDUCE THE STRESS😌.

Side note: I totally get that some people may not have money left over to save for their future selves just yet (I was in this exact place some years back). If this is where you are today, it is okay. I am hopeful YOU WILL EVENTUALLY INCREASE YOUR INCOME and be able to put some MONEY ASIDE FOR YOUR FUTURE SELF soon😊 You may not be able to apply all the tips in this post yet, but you can keep them in mind for the future.

How I started saving for my goals

Once I began earning enough money to start saving, I started an EMERGENCY FUND and started investing into my RETIREMENT ACCOUNTS. When I had extra money, I usually SAVED ALL OF IT without a GOAL IN MIND.

This was until I learned I could allocate money TOWARD MY GOALS and bucket list items.

Two of the things I enjoy most are 1) TRAVELING and 2) GIVING to others. So, it’s no surprise that the first two savings funds I created were for travel and giving.

When I get paid, I add money to these funds. Even though I have them, I still try to FIND GOOD DEALS when I buy stuff, SO MY MONEY CAN GO FARTHER 😉 .

I also put 1% of what I earn each month into an OPPORTUNITY FUND, which I use TO FUND MY GOALS and bucket list items. If I make $1000, I save $10. If I make $2000, I save $20.

Most recently I used the money in my opportunity fund to purchase:

• A financial freedom book ($23),
• Spanish lessons ($10 per session), and
• Intermediate swimming lessons ($65), which included six lessons

Without my opportunity fund, I DON’T THINK I WOULD HAVE EVER STARTED Spanish or swimming lessons.

I would probably still be saving every single penny WITHOUT MAKING ROOM for the THINGS THAT INCREASE MY HAPPINESS and JOY today.

I am also pretty darn sure I WOULD NOT be nearly as GRATEFUL for the things I do to earn money if I DIDN’T USE some of this money to FUND MY GOALS and DREAMS!

Side note: I have different accounts for each of my funds (i.e, travel, giving, opportunity), but you don’t have to. The only reason I have separate accounts is because it helps me be more disciplined with my saving and spending, and it’s the method that works best for me right now.

What I learned

(1) It is important to save for the future.

SAVING for an emergency HELPS ME STRESS LESS when unexpected expenses come up.

Saving FOR TRAVEL allows me to TRAVEL MORE without racking up credit card debt.

Having a giving fund allows me to GIVE TO OTHERS without putting the finances of my current or future self in jeopardy.

(2) I can save AND enjoy my life now.

I went through a period where I SPENT ALL the MONEY I SAVED and found it hard to figure out exactly WHERE ALL THE MONEY WENT.

After learning I could SAVE FOR SPECIFIC PURPOSES, I started to. This made it a lot EASIER for me TO SPEND ON MY GOALS and things I enjoy today. And I was able to SAVE FOR MY FUTURE SELF too!

(3) Having savings funds for my goals and the things I enjoy helps me set boundaries.

Before I created these special savings funds, I would SPEND WAY MORE money than I ACTUALLY HAD on travel and gifts, which would result in me either:

• CARRYING A BALANCE on my credit card because I DIDN’T HAVE ENOUGH MONEY to pay it off, or
• Using my ENTIRE PAYCHECK to pay the credit card bill, which left me with VERY LITTLE to cover MY NEEDS (i.e., food, gas, etc.).

Now when I RUN OUT OF MONEY in a specific category (like Giving), I HAVE TO WAIT until that fund is replenished to start giving again. The same is true for my travel and opportunity funds.

• This sometimes sucks in the present, but the future me is THANKFUL😊
• Plus, when these accounts are empty, I can usually (1) ENJOY the new skills I’ve acquired, and (2) RECOUNT MEANINGFUL EXPERIENCES I made while spending the money.

Challenge

1. Write down (or think about) YOUR GOALS and/or bucket list items.

2. Do you have money to SET ASIDE for one or two of them now? It does not have to be a lot, EVERY LITTLE BIT COUNTS. You can even start by saving 1% of what you make toward your goal(s).

• If YES, can you start saving toward them today, this week or this month?
• If NOT, what is an amount you’d like to start contributing to your goal(s) in the future?

Lagniappe /a little something extra/

One of the things I found MOST MONUMENTAL in the beginning of my saving journey was to save an EMERGENCY FUND.

If you don’t already have one, I ENCOURAGE YOU TO START ONE. This is a great way to LOOK OUT FOR your NEXT MONTH and/or NEXT YEAR SELF. This fund can prevent you from overspending (and stressing) if something unexpected comes up.

Some experts recommend starting a $1000 emergency fund while others recommend building a 3-6 month emergency fund. If you decide to take on this extra challenge, remember that the CHOICE IS ALWAYS YOURS, you can make modifications, if you see fit 🙂

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Thank you so much for reading this post! And as always, if you have any tips, suggestions, questions and/or comments, please leave them in the comment box below.

Sending lots of love & light your way ❤

Until next post😉

Xx,
Raina B ❤