People will say: I want to retire early, send my kids through college, buy a bigger home, give money to charities, etc. We all have noble and good goals, however, if we don’t set priorities, we will be a day older and deeper in debt.
If you want to pay for your kids college are you putting money aside now? Waiting for their senior year isn’t going to cut it. Early retirement-same thing, what are you putting away on a consistent basis?
If you have your goals as priorities, this will have a huge impact on how you spend your money. You will be looking to put money aside for your priorities and will not be so quick to go to the mall just because you feel like shopping.
It’s all about making the right choices. If your money is already spoken for you don’t have it to spend. Let’s use money for your children’s college as an example. They want the latest gadget, clothes, new cell phone, etc and your answer is: NO- it’s going to the college fund. How can they argue with that?
I am also a big believer in having your children work while they are in high school and while going to college. We did this with our two children and they quickly learned the value of having earned their own money and were not so quick to spend their money, let alone Mom and Dad’s money.
Set your priorities and save money!
Jacques
CreatingWealthThatLasts
2 comments:
Jacques, thank you for the good advice. Setting up where things are going to be spent. Set your goals and stay to those goals.
Dan and Deanna "Marketing Unscrambled"
Hi Jacques .. albeit I'm self-motivated .. I'd have liked to have worked as a child .. or young person. I knew nothing about working life when I hit the arena of adulthood .. so at least from that experience I'd have learnt a lot.
Good advice to know what you want out of life .. and how to get there ..
Thanks - Hilary Melton-Butcher
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