We are almost two full months into the new year and now is the perfect time to look back on those resolutions you made on New Year’s Day and ask yourself which ones are worth keeping and which ones can be scratched off your list. Let’s face it, we all make resolutions that just aren’t realistic. Instead of setting yourself up for failure at the end of the year, get rid of the burden now and focus on the resolutions that are truly the most important and achievable.
Earlier this week, I was listening to two of my neighbors’ chat in the elevator and within that 30 second ride, I heard the struggle and anguish they were both going through financially. I wanted to say something and offer some advice, but I was dressed in my gym attire and didn’t think they would take me seriously. It’s crazy to think about how many people in this country live paycheck to paycheck without even a hundred dollars saved in the bank. What happens in the event of an emergency? I guess people rely on Mr. Visa and Mr. Mastercard. This is a scary way to live, but I am not sure exactly how to help these people.
You can say, ‘get a side hustle’, but most of the people living paycheck to paycheck are working all day and usually mentally drained by the time they get home, especially if they have other commitments, like a spouse or children.
The best advice I can give at the moment is to think positive and try to save as much as possible, even if it’s only $5 or $10 per week. The argument I get is, “It’s only $10. It will take forever to build anything substantial.” Remember, $10 per week is $520 per year. That’s $520 more than some people have saved right now. Every little bit counts. And in the event of an emergency, you have a small slush fund to pay for unforeseen expenses.
The goal here is to stick to your financial resolutions and save..save…save! Or should I say, invest…invest…invest!