Saving Versus Spending (Part II of III)

Saving can be good. It’s allowed me to live in New Zealand, teach in Ukraine, and sleep in the Ice Hotel in Lapland Sweden.

I was saving for a spunky sports car. I even had the first year of insurance and maintenance saved. I hit my mark and began the search for the criteria I had. Things weren’t coming together easily. I pulled back, paying attention to gas prices, my leaving a job, and acknowledging maybe the thrill was in the chase. Maybe I’d already hit my goal without getting the car.

Within a year I was diagnosed with stage three breast cancer. I  lived on my sports car savings, and other savings. I’ve since bought a car—not new or sporty, but it’s a good car, paid for, and gets good gas mileage. Thank God for $avings!

Hitting Your Target – New Year Goals

Did you know that only 20% of workers split up their paychecks into multiple accounts? And those who do deposit their money into multiple accounts save on average $90.00 more a month than the 80% who deposit their money into one account? Talk with your employer payroll department. If they won’t let you split your paycheck, do it on your own after the money’s in your account. You may want to even set up an automatic transfer date from the account receiving money from your employer, to your account with a specific goal.

Say you deposit 70% of your paycheck into your main living account. 10% into a long-term savings (think future, 401-K, investments.)

10% into a short-term savings (think cushion, or saving for something specific like a vacation, even a car.)

10% for tithing or charity.

Even if you start with 95% to live on now, and 5% transfered to your goal. It adds up. It may take a while to work up to this. It can be done.

What are your goals? What are you saving for?

Getting There From Here – Having Goals

In Alice in Wonderland, Alice is lost, and asks the Cheshire cat for directions to get out of the place she currently finds herself. The cat tells Alice that getting out depends on where you want to be, asks Alice where she wants to get. Alice says, “anywhere.” The Cheshire cat tells her, if she wants to be anywhere it really doesn’t matter which way she goes!

Do you want financial freedom? What are you doing to welcome wealth? What goals, visions, or dreams do you have? Have goals bigger than your fears.

If you’ve come to this blog other than through my website  there’s workshops and mentorship information for those wanting to learn how to budget, set goals, or balance spirit and money.