A Downfall to Planning
I love to plan, planning is actually a weakness of mine. I love to look at all of the details of a potential vacation. I love to look at flight costs to different cities at different times of the year. I love to research hotels and activities in certain areas, I love to see what food each place is known for. I get really excited with all of the logistics. It’s like floating on a fluffy cloud for me! Though this has gotten me into some trouble.
Let me tell you how. I’ve started doing research for a potential trip down along the road. I end up coming across a “deal” and end up talking my husband into how a great idea this would be and the great memories for us as a family. BIG MISTAKE, please don’t make the same mistakes as me! And if you already have, then wasn’t that trip worth it after all?? For me the answer is a definite YES!
However, I say we take those planning skills and plan with a purpose. Instead of planning on a whim. Don’t get me wrong, if you can get on a plane tomorrow and be in Greece on a whim, or anywhere else you want to be. Then please do so, but make sure you have been putting money away in a random trip fund. One of the skills that I have learned about, is to take a good look at your life and choose the top 3 things that you like to spend on. It might be travel, clothing, eating out at fancy restaurants, having a baby, buying a house, etc. Now pick your TOP ONE of the three.
This is known as your money dial. And this is what you should be setting a separate savings for in a high yield savings account with an online bank and create a few savings buckets if you have the option to. This savings is for something down along the road, that just makes you super excited to get up and go to work. You stay motivated because you know down the road you will end up either traveling, buying yourself a really nice coat, or going to one of a kind dining experience.
Make sure to look at your finances and determine a percentage that you can start saving for this goal. Remember you should aim to save about 10% of your take home pay. Which means you get to choose how to break it down, maybe 5% for your emergency fund, 2% car maintenance, and 3% travel. The great thing is that you get to plan how you distribute your money once you choose that percentage.
Remember to set this up automatically because you will not even miss it. It will be like an extra bill that must be paid. The only difference is that when you log in to these savings, it makes you happy to see how the money grows and you stay more motivated to just keep going! I know it can be hard to start at the beginning, trust me I know what it feels like that even $20 makes a difference when you have little to no money or with a pile of debt.
I know when you are just starting to save and all you see is $20 in there, it can be easy to get discouraged. But if you just start, make a plan, and automate it, trust me the feeling of “I AM DOING IT” feels amazing!! DREAM BIG FOR YOURSELF! So put those great skills of yours to work in your favor not against. "
