Saving Money Like an Asset

To change our habits surrounding money we must first question how we think about

money. Our thoughts come from our history, experiences, and beliefs.

For instance, is money a tool to support your lifestyle and goals? Or is everyday an

emergency and saving simply does not feel like an option?

First and foremost, it is important to understand that saving and strategizing each dollar

gives us the power and control over our finances. The purpose is to live below our

income level and not at the top and definitely not over our planned budget.

Our culture can make us feel like we are slaves to the dollar and we often make quick

choices that bring comfort and take us off of our plan. This leads to overspending where

we run the risk of not being able to slow down spending on what we view as “important”

today.

Strategizing towards our goals and putting in the effort to change bad habits will make

our future selves so proud of us!

Savings goals are different for everyone and may include one or all of the following:

- Emergency Fund

- Vacation Fund

- Future House Fund

- Retirement Fund

- Debt Payoff

Adding money to our 401K, IRA and stock portfolio are also great ways to save money

for the future while treating it as our most important asset.

Having goals we are personally working towards and focusing on them makes the

process of saving more attainable.

It can seem tricky at times to fund our lives or our business if we are a business owner.

Saving for our future selves seems like a huge challenge because today just demands

so much from us. If we do not slow down our mind and really tune into our goals and

where we are going in this life, there will be nothing left at the end of the day except

more work and expense for tomorrow.

The goal, of course, is not to struggle while being able to do all the things we want to do

without overspending. This includes budgeting daily expenses. Small examples would

be saving on coffee and meals purchased vs. more cooking at home. Or making a

grocery list which brings focus to what we need so that we do not impulse shop.

Debt often holds us back from saving. Beginning the process of immediately working

towards paying off debt gives us the ability to save and stack assets. Debt is a huge

burden to our future self. The strategy would be to spend as little as possible for our

absolute needs today and not create debt our future self will have to pay back.

Money saved buys us freedom and freedom is a huge asset! What would you do with

more time in your life? Where would you be and who would you be with if you didn’t

have to work or struggle or worry about having enough?