Monday, June 20, 2016

four motivations to save money

One thing I really prided myself on was being smart and building my savings account. I don't want to brag, but for a young 20 something I had a hefty savings account. But all that changed when I moved last year. It's so expensive to live in Vail; I've basically been living pay check to pay check for the past few months. I'm really trying to make that change now. I moved into a less expensive place at the beginning of summer and I'm learning to say no to going out every time someone asks. I'll admit though my biggest temptation comes from shopping; I see something cute on sale and I just feel like I NEED it. I've realized though whenever I'm tempted to buy something I have to think about my motivations to save money. I almost make an international pro con list. Do I want this item more than I want one of my motivations? Sometimes the answer is yes, and that's okay, but most of the time the answer is no. Here are my four motivations to save money.

1. Vacation - One thing I really want to do more of these next few years is travel. Maybe it's just long weekend trips or maybe it's 2 weeks in Europe, but I want to explore this world. The job I'm currently working doesn't have a set schedule meaning it's possible for me to get 4 days off in a row without having to touch my PTO; 4 days might not be much but it's the perfect amount for a long weekend. Before moving to Colorado the only place out West I'd ever been was to Tucson for my sorority's convention while I was a senior in college, so there are tons of short plane ride away places I've never been.

2. A House - Maybe I've been watching too much HGTV, but the idea of buying my own house has been on my mind constantly. I don't see myself purchasing one for a few years, but for something this large you can't just wake up one day and think you'll hit the downpayment goal in a month. Allison from Because, I Said So is building a house with her fiancé, and that was a major wakeup call that people my age are adulating hard and owning homes.

3. Kids - Again this is something that I'm not planning on for many years, but kids are expensive. They're expensive to have and raise, they're basically an expense for life! I know they always say if you wait till you're financially ready you'll never have kids, but I'd like to have a little bit of money saved, because if not I'll be stuck asking my parents for help and that's the cycle never ending.

4. A Rainy Day - About two months after moving to Colorado I had a rainy day emergency. A waterline in my condo building burst forcing us to evacuate and be out for about 2 weeks. Thankfully I was covered for everything by my renter's insurance and was only out my deductible in the end. But it took months to get my refund check. I was so thankful I had money in savings I was able to use or else I would have been in serious trouble. If that happened in my first two months of serious adulting I can't even imagine how many more "rainy days" are in my future.

What are your motivations for saving money?

 photo signature_zpsvprlrk8z.png

No comments:

Post a Comment

I think of every blog post as a conversation. I hope you'll join in and leave a comment so I'm not just talking to myself.