I read a story recently that brought home a strong message…
A lighthouse keeper had a limited amount of oil to keep his beacon lit to help the passing ships avoid the rocky shores.
But one night an elderly man who lived close by came to borrow oil from the lighthouse keeper. He felt sorry for him so he gave the elderly man some oil.
Another night, a traveler begged some oil to continue on his journey. He too got some of the limited oil.
The following night, a mother frantically awaken the lighthouse keep. She too wanted oil so she could keep her house lit and feed her family. Once again, the lighthouse keeper consented.
Soon all his oil was gone and his beacon went out.
Many ships ran aground and many lives were lost because the lighthouse keeper lost sight of his main priority.
He neglected his primary duty.
How about you….
Have you lost sight of your goal to save?
We all have good intentions when it comes to saving money.
We tell ourselves that we’ll start saving once we reach a certain milestone like when we hit a specific age, get a raise, or the kids move out.
But in reality, you’ll only start saving money when your future needs become more important than your current wants.
We all know we need to save, but most people don’t save like they know they should.
A report by the Federal Reserve found that about 40% of Americans would have difficulty covering a $400 emergency.
Why? Because we have competing goals.
A lot of times, the goal to save money isn’t a big enough priority to delay the purchase of that new smartphone, kitchen table, or TV.
So, we spend our dollars away….. or worse…. go into debt to buy the latest want.
That debt then becomes monthly payments that control our paychecks and our lives.
Are you ready to stop the cycle?
The secret is simple…..
Make a budget before the month begins.
A budget is not scary….or foolish…. or weird.
It’s all about being intentional
Giving every dollar a name…. or assigning it a job to do….. before you spend it.
Having a budget is a great way to see where your money is going and how much you can save each month.
Saving and Giving should also have their own line in your budget along with the Four Walls:
- Food
- Shelter and Utilities
- Basic Clothing
- Transportation
Imagine how your life would change if you suddenly had money left in your monthly budget.
It can happen!
Just take stock of your spending and identify areas where you can save.
When you have a budget and make a few tweaks to your expenses, you could be surprised at how much money you have left each month.
Until next time…..
I look forward to hearing from you!!
Althea
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