You control your destiny — you don’t need magic to do it. And there are no magical shortcuts to solving your problems.

– Merida, Brave

Next on the list… #4 Save Money Now!

List: “10 Things I Wish I Knew When I Was 20“

Author: Frances Bridges 

I’ve Said It Before & I Will Say It Again….

… Save Money!

In a previous post: Savings: Reactive vs. Proactive, I discuss the differences between reactive and proactive savers. The goal is always being a proactive saver! Reasons to be a proactive saver are self-evident eventually! This post, I want to talk about the WHY! Why should you save money?

Living in the Moment vs. Living for the Future

It is so hard to save for the future. Especially because we are living in the now! There are constant conflicting information about how people should live. Personally, I have been in conflict with myself because of the consist divide. But listening to others talk about their lives and what they have done has made me think more about what I want from life. So this is how I save:

1. Retirement: I put 10% of my income into a 401k with my employer. If I was self-employed, I would do the same thing, except it would require more research and understanding of the 401k process and how to go about setting it up. Reason I save? Because I want a choice in my future. I do not know how I will feel in the future or what it holds, but I know that I want a choice between retirement and working. I do not want to continue working because I have no other options. So I save because I want a choice.
2. Emergency Fund: I contribute 1% of my income monthly to a savings account that is EASILY (within a minute) transferable to my checking account. It might not seem like a lot of money, but it adds up. Reasons I save? I enjoy having the freedom to roam this earth at my own will. That means I need transportation that is on my schedule. So I need a car. Cars are unpredictable at times. They require routine maintenance and insurance and even with all of that, they still break down. My emergency fund helps me keep my car and my freedom to roam.
3. House Fund: I save 5% of my income monthly for a down payment on a house. It really stretches my budget, but I know it will be worth it! Reason I save? I want property to pass on to my children and their children. I want my children to experience stability and know that no matter what, there will always be a roof over their heads even when I am gone.
4. Vacation Fund: My boyfriend and I both contribute to a shared vacation savings fund. It yields enough money for one vacation per year; possibly two depending on the trip! Reason I save? I want to experience life now just like everyone else! I want to enjoy a change of scenery and experience new ways to live this life! So I save to do those things. It gives me the opportunity to live in the moment and not worry about bills being paid at home or running out of funds during our trips.

Savings does not mean you are not living in the moment. Savings means you are living for a FULL LIFE! Your plans extend further than you can even imagine!

I save to live.

What Do You Want In Life?

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Take some time to think about what you want in life. When you have purpose for savings, more than just “I save because I am supposed to…”, saving doesn’t feel like extortion. Savings is made easy. Successful savings requires purpose!

Until next time…