Are you ever caught off guard or discouraged by how slowly your money is growing? You may try your hand at setting budgeting parameters, but when you get your W-2 at tax time you see the round number of what you earned and wonder where in the world your hard-earned money goes? Does it seem like it vanishes into thin air?
I want to challenge you with a question: have you ever researched exactly what you are spending your money on? I would wager a guess that if you broke it down and saw an actual figure of all the dollars spent throughout the year on coffee, restaurants, apps you subscribe to, or online shopping purchases, your jaw would drop.
If you want your money to grow, you need to be incredibly diligent with saving it, and in order to save it, you can’t spend it. Now, I am well-aware that it takes money to survive, and I believe in the idea that ‘it takes money to make money,’ but it’s important to first identify your personal goals and adjust accordingly so you can begin moving toward them. Perhaps your goal is to buy your dream home, plan a wedding, remodel your home, pay for college, invest for retirement, or take an awesome vacation. Whatever your goal may be, I’m a firm believer in identifying said goal, and then plotting measurable action steps. If only there were a plan in place that we could stick to that would yield steady savings, while also living life…
OH, wait! There is!
Enter the budgeting method known as the 70-20-10.
Be sure to check out the next post where I explain how to get started with this plan!
Thanks for following along!
