How do we live within our means and still have fun? When our friends are always out having fun and inviting us to do things but we don’t have the cash, how does that feel? It can be very stressful if you don’t have a plan. A savings and a spending plan will really help you deal with this.
Let’s face it, we aren’t going to be able to do everything every day. Sometimes we will have to work, be with the kids, or maybe we have other plans already. But what if we have free time but not the cash flow? If that day is today, it is time to focus on your plan.
What are your financial goals? Do you want to have a cash stockpile so that you can do what you want, when you want? Do you want a savings or retirement plan so that you won’t have to work so hard every day for the rest of your life? Do you want take a long vacation a few times a year? All of these plans can be achieved with some focus.
The first things you need to know are what your income per month is and what are your fixed expenses? These can change but use what you have today as your guide. This is your basic budget and will help you get closer to your goals.
If you aren’t as close to the cash flow you want or need, maybe it is time to look at what you are doing to make money and figure out a better plan.
For a quick fix, take a portion of your cash flow and designate that to fun. It might only be a small amount today but you can change that as your income grows and your expenses shrink. Now you will be able to go out with your friends, have a good time, and not feel guilty.
Some people don’t have a plan and spend their money as fast as it comes in. They
seem to be having such a great time and we think they are so lucky to do and have everything they want. Just know that it isn’t real. What you see is someone without a plan for tomorrow. They live for today without a care in the world for what happens next. If they have to charge it to do it, they are digging a pretty big hole and you shouldn’t follow them in.
By thinking about your spending and saving habits, you will be the one with a secure financial future. When your friend runs out of money, you will be the one they look at and think, I wish I was out having fun! They are the ones who are planning backwards. Spend today and save later never works in the end.
There are plenty of things that you can do with your friends that don’t cost a lot but are lots of fun. If you love to cook, you could take turns hosting a dinner night or a potluck night. Or rent movies for $1 at Redbox; I think everyone can come up with a dollar. How about a pool party; someone you know has a pool or you could go to the ocean or the lake. How about a game night? Bring on the music and the snacks and prepare for a great time. These are just a few ideas that will help get you started or fill up your weekends for the next month.
By strategizing and planning, you will feel more accomplished, less stressed and have lots of photos and memories while you are on your path to financial freedom.
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