After the Budget #FinancialFitness2018

Last week, for #FinancialFitness2018 I took myself through the process of creating a budget for myself. This week I am focusing on what happens when you’re done with that process.

I’ve mentioned before that my income is variable, so the way that I budget and save money is going to be a little bit different. Most people earn roughly the same amount every month, and if you do, it’s much easier. Once you have created your budget, you will know exactly how much you have left after expenses every month. What are you supposed to do with it? Just leave it in your checking account for a rainy day?

That’s a hard no.

When we think of “saving money”, what does that really mean? What are we saving it for? Emergencies is definitely one of them. What if you lost your job tomorrow? What if you have credit card debt, or student loan debt? Should you just put it all towards that?

And then you’ve got longer term goals too. Maybe getting a new car, or buying a bigger house. How much should you be putting towards those goals? And then, of course, there’s retirement. How much money should you be putting away for that?

All of these things constitute “saving money”. The real question is what can you do to make sure that when you save money, it is going to these different goals in a logical and strategic way?

Enter “The Bucket Strategy”!

Tomorrow I will be explaining how the Bucket Strategy works for saving money, and how it can help you to be in a position to meet your financial goals. Stay tuned!

#KatelynIsGettingFit #FinancialPlanning #BucketStrategy

Category: #FinancialFitness2018, Uncategorized · Tags:

Comments are closed.

Check the background of our Broker Dealer on FINRA’s BrokerCheck

Hansen’s Advisory Services is currently licensed in AZ, CA, CO, FL, IL, ME, MA, NJ, NM, NY, NC, OH, PA, RI, SC, VT, VA

Securities are offered through Cadaret, Grant & Co., Inc. Member FINRA/SIPC. Hansen’s Advisory Services, Inc. and Cadaret, Grant & Co., Inc. are separate entities.

Site Credits

Website by Lisa Goodlin Design

Solar-powered website hosting by AISO.