How To Win With Your Money

Last updated: August 23, 2017

How To Win With Your Money

It’s the beginning of a new school year and a great time for beginnings. As my kids get ready for school in the morning, I’m focused on habits and setting the standard for the year. If one forgets to brush her teeth this week, we’re going to have trouble the entire year. I’m also setting new goals for myself (isn’t this the second “New Year’s” for resolutions?)  I’ve got my water drinking chart taped to my wall and I’m filling it out daily, checking off those 8 glasses of water. Years of being an over-achiever have taught me I have a limit when it comes to goals. I might think I can get up daily at 4 a.m. to run, but that also might be the quickest path to quitting and failing. Small changes work well when it comes to long-term change.

The same is true with our money habits. Trying to get rich overnight often ends in burn-out and failure, but making small, incremental contributions will result in big earnings and long-term success.

“You will find joy in overcoming obstacles.” Helen Keller  

When it comes to saving, start with a small amount but remain committed to that amount over the long haul. Practicing what I preach, I’ve drafted and committed to the following plan for the duration of my kids’ school year:  I’ll let you know in June how everything turned out and what I learned.

  1.  Start an emergency fund and contribute at least $5 per paycheck.
  2. Sign up for a retirement account. Make contributions automatic through my bank.
  3. Before checking out at the grocery store, put one thing back.
  4. Pay off $5 extra a month on the credit card debt.
  5. Donate to my favorite charity.
  6. Try brewing coffee at home instead of buying it at the coffee shop.
  7. Draft a monthly budget and then find an accountability partner.

 Photo Credit: @forrestcavale

This article is published on KansasMoney.gov.