You need to have a reason, a driving force, that encourages you to make smart financial decisions day in and day out.
I know it’s not easy to save money, especially when there are tons of demands on your life like family, children, and the hope that one day you can actually take a break and enjoy that vacation!
Whatever your savings goals are in life, we’re here to support you all the way. Below are some of my own personal reasons for saving. Are they yours too?
First and foremost, saving is all about freedom to me. Financial independence means freedom to do what you want when you want, and I can’t wait to get there someday. I’m working hard to automatically save a certain amount every month so that we can pay for my husband’s medical school board exams without too much pain or suffering. We also have his residency applications coming up in a year and hopefully many plane tickets to go on interviews. All of these things costs thousands of dollars but when the time comes, I want to have the freedom to make the choices wisely. Even more importantly, I want the freedom to retire when I want and send my kids to the schools they want. All of these things won’t be possible without planning and saving, and I definitely intend to keep trying to make it all happen!
I’ve mentioned my twins many times throughout my posts, but they are truly my reason for everything. I don’t want them to suffer in any way or go without. I plan on having a pretty minimalist life for them void of tons of toys and video games. However, I want to be able to save to pay for their education and anything else they might want to do. If they decide they love pastries and want to learn French, I want to be able to take them to France to experience it firsthand! The fun part about this is that I have no idea where we will live or what their personalities will be like, but I’m saving for their future anyway.
3. Life Experiences
My husband and I have said many times that we’d rather have modest homes and cars and get to travel and see the world. Plus, we know there are life experiences to be had right here where we live whether it’s taking the train to New York City or going apple picking. Saving money allows us all to get some great life experiences whether they are big or small. I fully plan on filling up my vacation funds and cutting back on all the little extras so that we can continue to do fun things as a family and invest in ourselves through various activities, educational or otherwise!
What are you currently saving for? Do you have any savings goals that are similar to mine?- Catherine Alford