Personal & Purpose Driven Finances
Who ever thought you could have a financial advisor that works to minimize disrupting your lifestyle rather than using budgeting tactics that make you feel restrained?
I can tell you for the longest time I didn’t respect my hard-earned money. In my 20’s I worked hard but spent and played harder. Money in money out was the flow I had created at that time of my life. You’ve heard it said before, “the more money you make the more you spend”. Like most I would suspect as we navigated being an adult and adding on responsibilities.
Until I hit a wall and realized I wasn’t making my money WORK for ME. I was making money FOR ME, for immediate gratifications. Yes, there’s a difference. Even though, I had always been taught to save and sporadically put money aside in a RSP or other investments it was minimal, and I thought, well I have plenty of time to really save right!?
Well, yes you do but things change, life changes and if you don’t start becoming aware of how your finances can work for you, you may feel a bit behind.
Here are my three proven tips that can help get you started with saving that works around your lifestyle:
- Rather than live by a budget each week, how about calculating what you can put away each pay or week into either a TFSA (tax-free savings account), RSP or mutual funds. It’s amazing how little money each week/ month can add up to at the end of each year. Remember it is not about putting away a huge chunk at once its about putting away little sums frequently that will surprise you how quick it grows.
- Want to take that vacation every year? Divide the total cost of the trip by the number of months /weeks you have til you depart and put that amount away in a savings account. This way you know even if you purchased it on credit you will pay for it before you leave and not wash away the good vibes when you return because you must now pay it off.
- Want a refresh in your wardrobe? Apply the same method as in the vacation scenario. Average out how many sweaters, shirts, pants/skirts you think you want/need and start building the amount in your savings. If you do this regularly you will be able to refresh your wardrobe each season. Buying clothes, you know you bought without credit makes retail therapy all that more enjoyable 😊
These methods should feel less restrictive, and you know in the back of your mind you are building a little nest egg.
Note: I am not a financial advisor or professional. These are tips that have worked in my life and ones I think could work for many.
I recently interviewed Leanne Martin, Ph.D. finance specialist on my podcast to speak about her journey into the finance world and the model her and her partners use. Their approach helps you recapture and reposition money to support your future while doing their best to not disrupt your lifestyle.
CLICK HERE to listen in.
