What’s Your Financial Vision? Part 2
It’s time for part two, so you’ll want to squirrel this one away for future reference like you did with part one. No hurry, I’ll still be here.
- Okay I’m back. You’ve probably heard this one before but it is so powerful that I want to include it in my blog. “Pay Yourself First.” The amazing idea affects two important aspects of savings; it creates a discipline that you can be proud of and it utilizes what’s called dollar cost averaging. In doing this I would recommend using one of the top three mutual fund families (Vanguard, American, or Pimco). These companies will assist you in setting up an account that draws a predesignated amount out of your checking account on a set day every month; it’s all done before all the other bills start rolling in. “Make It Your First Bill” you pay. Here’s a fun example of the power of consistent saving: If you put $1,000 in a savings account and decide to put $125 dollars per month into that account and it earns on average 8% in 50 years you will have 1 MILLION DOLLARS. Even if you need to start small, that’s great. There is a lot of power in taking action — both financially and emotionally. I say emotionally because it is such a great thing to do for yourself, and any strides toward financial independence is a baby step you can be proud of!
- Set a goal to start to better educate yourself, and financially reset your expectations. Don’t worry about past mistakes, but count those as learning moments to help launch you to new, fresh, educated financial decisions!
- Here is a link that has lots and lots of interesting calculators. Give yourself some time to hunt and click through this site and it will undoubtedly show you some new fun things you can do to save money and prepare for your financial future: Financial Calculator.
- Well my coffee is cold, and as I gaze out my window and see the morning sun begin to beckon me to go and exercise, I will close, hoping for this to reach open eyes — eyes that are hungry to find new pearls — pearls of life that help us forge ahead and begin to control our lives and not let it control us.
- LIVE WITH PASSION, LAUGH OUT LOUD, LOVE DEEPLY, and DON’T FORGET TO DANCE.
- I’m Out, Boom, mic drop!
Below are some cool links I wanted to also share:
How do mutual funds work?
Set up a budget — Dave Ramsey
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