Putting even a small amount aside is a priceless gift to our future selves. Here’s how to make it happen.
– KEYS SOULCARE
Picture yourself a few decades from now, filling your days with activities that you love. What are you doing? What are you planning? And, finally: What money choices did you stick with to help you get there?
It’s a question so many of us shy away from, out of anxiety or lack of financial planning expertise. And yet, regardless of our money know-how, we all know that saving in the here and now means more choices and less stress down the line. (In fact, research has shown that saving money boosts our happiness more consistently than earning it does.)
Ready to embrace change now in exchange for more money choices later? Read on.
Take care of “future you”
“It’s your younger self’s responsibility to take care of your older self. If you don’t, there’s no guarantee anyone else will,” says financial educator Tiffany Aliche (aka @thebudgetnista). Literally picture yourself as an older you. Check in with what they need to grow and thrive. Chances are, it’s not an impulse purchase or the latest piece of tech.
Have a “money talk” with yourself
What’s your lifestyle, including your spending habits and material wants? What are your financial goals? How much debt are you in? Do these answers support (or sabotage) one another via your real-life spending and saving practices? (We love this super real list of cash dos and don’ts by former Wall Street power player and Ellevest founder Sally Krawcheck.)
Share your goals — and the love
It’s inspiring to watch loved ones care for themselves, spending habits included. So instead of shying away from your reasons to push for a park meet-up over happy hour, tell your friends you’re on a mission to save some cash! You might be surprised at how supportive (and excited to join the cause) they are.
Just one more made-at-home meal (versus delivery) or night in catching up with your bookshelf (versus paying to download a film) is definitely something.
Automate your savings
Whether you use a third-party app like Mint or Stash, or divert a portion of your deposits into savings before they even hit your checking account balance, you’ll understand the truth behind the phrase “Out of sight, out of mind.”
Enlist an expert
Our recent piece on honoring your inner entrepreneur, featuring accountant Keila Hill-Trawick, reminded us that sometimes even the most driven among us need help from an expert!
These are just a few ideas. How are you giving yourself permission to put money aside for the future?