Recently, we changed all the major appliances in our kitchen.
We took the time to do our research, save, and hopped onto a Labor Day sale event.
Then BAM!
It took us a few months to actually purchase the items, but when they finally showed up at our home, they were fully paid for
For me, that’s very exciting!!
Plus we got some really big-ticketed items at a very good price.
My refrigerator now has a door-to-door and Wi-Fi…. not sure what to do with it yet but we’ll figure it out later.
Here’s the thing…..
A big reason why we tend to get stuck in the paycheck-to-paycheck cycle is that we’ll make a huge purchase on a whim.
Meaning that…..
We’ll say yes to a beach vacay with friends the month-of, or buy a new laptop when we want an upgrade or trade-in a good car to get a newer model.
These in-the-moment spending habits drain the month’s budget.
It’s no good to get ahead with stuff, or even awesome experiences if it means getting behind with your finances.
I’m not saying you have to say no to all big purchases.
What I’m saying is this….
Think ahead.
Plan ahead.
Save ahead!
Use the sinking fund method….. figure out how much an item or experience will cost and save up bit by bit, over a period of time.
When you save up for big expenses, you’ll enjoy the stuff without the stress.
A budget with all theory and no action is completely useless. It looks pretty and all, sitting there in your app, but it’s no help if you’re not sticking to it.
In cases of emergency, use money from your emergency fund then replenish as soon as you can.
Otherwise, plan and save towards your big-ticket items.
One definition of maturity is learning to delay pleasure. Children do what feels good, adults devise a plan and follow it.
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Until next time…..
Agree or disagree? I love your comments! So please let me know your thoughts in the comment section below.
I look forward to hearing from you!!!
Althea
Helping God’s people realize and achieve their true financial potential, become debt-free, build wealth and give generously!!
PS. Financially, most of us know what to do; we just have trouble doing it. That’s where a coach can help. CONTACT ME for a FREE 15-minute consult.
