Don’t Wait To Start Saving
“Well… we’re waiting!”
- CADDYSHACK written by Brian Doyle-Murphy & Harold Ramis & Douglas Kenney, directed by Harold Ramis
(1.5 mins)
Someone told me recently that she thought she could only save once she had a lot of money. That’s very relatable. I once thought the same thing. Of course, once you vocalize this thought, that is when you realize how silly it sounds.
But I hear this a lot, especially from screenwriters and TV & Film industry professionals. Then again, this isn’t just an Entertainment Industry specific mindset. Anyone who hasn’t “made it” in their respective field (usually anyone under 40), can often have the same limited belief.
People who grind away to earn every dollar may only think they’re just getting by. If you’re just getting by, then you can’t imagine putting money away. When someone brings this up to me, I respond with the same anecdote: if you were to go to the ATM right now, take out $20, then burn that $20, would your life change? The answer is no. What if you did that once per week? Once per month? Again, their lives would not be impacted other than the trauma of watching a twenty dollar bill go up in flames.
Instead of lighting that on fire, what if you placed it in a savings account or an IRA? You can do this once per month and your life would not be negatively impacted right now. It WOULD be positively impacted in the future though! You can add another bill to your monthly expenses and feel confident that you’d be able to pay it each time. That’s how you start saving. You don’t have to wait until you have a lot more money. You can start now.
Start small, but increase it when times are good. Dial it back during the slow times. Increase it again later. You can do this every month, regardless of how much money you’re currently making, and it will pay off in the long run. Go ahead and give it a try. You have my permission.
If you’d like more information about Saving, Budgeting, and Investing, you can schedule a complimentary meeting HERE.
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