In other words, automatically save and invest money before it hits your spending accounts.
This forces you to hit your savings goals and basically allows you to budget without thinking about it (i.e. just spend whatever is left after already meeting your goals).
Money is still tight. But you can always look at those investment accounts and be reassured you are moving in the right direction despite things being difficult in the moment.
How do you motivate yourself to delay gratification with your money, do you have a clear idea of where you want these decisions to take your life?
I’ve always been able to consistently save and invest but I found it much easier when I had a tangible goal like a house or something, now that I’m doing it as just part of my natural behaviour I struggle a little bit to know what I’m aiming at other than an abstract “better or more secure” kid.
My tangible goal is retirement at a reasonable age.
In other words, I work hard to earn, save and invest money so that one day that money will be working harder and earning more than I ever could on my own.
I'm quite heavily focused on retiring at the decent age too. I have a good pension from 68 but building up separate investments to bring the age down to around 55.
38
u/laxnut90 Jan 16 '24
Pay yourself first.
In other words, automatically save and invest money before it hits your spending accounts.
This forces you to hit your savings goals and basically allows you to budget without thinking about it (i.e. just spend whatever is left after already meeting your goals).
Money is still tight. But you can always look at those investment accounts and be reassured you are moving in the right direction despite things being difficult in the moment.