I think people wonder what they are saving for. Recently more and more friends keep saying the same thing. They don't know what they want out of life. Unhappy and not sure how to change it.
I tell them they need to sit with their partners and visualize a plan. They should write a list about what they want. Some can be short term, some can be long term.
I think people get bogged down in the tiny details and comparing themselves to others. It starts with "oh I don't have any money to save for retirement. Or it's too little." To it's impossible to save for a house, car, etc.
The first step is to sit down and write/think what's important. College for kids? Retirement? Paying off the house? Clearing credit card debt? No car payment.
Then you can look at each goal and make a plan. I will save 1% to retirement and up it every year. I will save $100/month to college. I will keep making car payments into a car fund.
Sometimes I think it's so overwhelming getting started that people throw up their hands and give up rather than just asking what is important? From that answer you can always sketch a more detailed plan.
Visualize a plan
October 18th, 2017 at 06:50 pm
October 18th, 2017 at 11:42 pm 1508370132
October 19th, 2017 at 09:41 pm 1508449289
October 19th, 2017 at 10:27 pm 1508452022
There's no incentive to save unless you understand what the short-term sacrifice buys you in the long run. You need a clear vision of the future benefits to motivate yourself!
October 21st, 2017 at 03:04 am 1508555087
October 22nd, 2017 at 05:21 pm 1508692909