Financial Goals Explained!

Do not save what is left after spending. Spend what is left after saving.

 

So, saving money is never something I have been disciplined enough to do. I spent everything I had in my younger years, and while I have gotten better at budgeting, I still find myself buying things unnecessarily. I tend to have little impulse control when it comes to things I want, and that is a huge focus of mine to improve upon. With Andrew and I building a house, it has become more important than ever to start saving as much as possible for our move. We can easily afford the house and bills, but we like to go out and have fun from time to time as well, so it would be nice to have some fun money as well as some backup should anything unfortunate happen.

I’ve spent the last couple years paying off all the debt I incurred before Andrew and I started dating, and I’ve drastically improved my credit score, but I still have a ways to go before I’m comfortable with my financial position and I don’t have to worry about it. That’s why my goal is $5,000 before we move. Broken down, it’s looking like this:

March:

1)      Save $250.

2)      Save $500

3)      Save $750.

4)      Save $1,000

April:

1)      Save $250.

2)      Save $500

3)      Save $750.

4)      Save $1,000

May:

1)      Save $250.

2)      Save $500

3)      Save $750.

4)      Save $1,000

June:

1)      Save $250.

2)      Save $500

3)      Save $750.

4)      Save $1,000

July:

1)      Save $250.

2)      Save $500

3)      Save $750.

4)      Save $1,000

 

That should get me to my goal easily, and I honestly may be able to hit it before then, and more is always better! I’m going to be monitoring my monthly expenses in March to see if there is any excess money I can trim from the budget, like any subscription boxes I have for the month, or any excess groceries I buy. I used to binge with alcohol and snacks on Sundays before the work week starts every week, and not only did that hurt me financially, with spending $40 to $50 each time, but also it hurt me on my fitness journey with all the extra calories. Now that I’ve moved in with Andrew, it’s easier to control those impulses, so no more impulse eating or buying food! I’ve examined my monthly budget so far for March and I’ve set up automatic transfer for a conservative amount of money each week. This is going to help tremendously with saving if I just have it done automatically and don’t even see the money. Ready to set this plan into action!