Dear Journal,

Do you ever feel conflicted between spending and saving your money?  That’s a feeling that I have all.the.time.

I’ve been working on finding a better balance between spending money on life today AND saving and planning for the future.

It’s hard when I want to be able to travel, enjoy experiences with friends and family, invest in health, wellness, and personal development, grow my business, save for a new home, plan to start a family, cover bills, anddddd the 80 million other things that make up my life.  

Do you ever feel like there are so many things that money could be flowing towards?!

I think there are two personality types on either side of the conversation when it comes to finding the best mix between enjoying life today and securing a financial future.

The first personality type: The Saver – someone who is future focused.  They are a planner, have goals, and are frugal in their daily lives in order to achieve future goals and stability.

The second personality type: The Spender – someone who is present moment focused.  They are spontaneous and carefree with spending money in order to have new experiences, jump at opportunities, and live in the moment.

I think most people fall somewhere in the middle, or they WANT to fall more in the middle (to find that better balance between living today and saving for tomorrow).  

I also think you can be at different points with your spending and saving as you go along in your money journey.

For example, if you have a bigger goal that is SUPER important to you, and you want it NOW, you may sacrifice your lifestyle today for a period of time.  Once you’ve hit that big goal, you may go back to doing the things you put on pause.

What is super empowering is that I can actually quantify my lifestyle today AND how much I need to save for my goals.  Then I can compare that to how much income I’m making, and divide my cash based on what’s most important right now.

Basically, I get to use numbers as data to tell me what things would have to look like reach my goals.  Then, I CAN DECIDE what’s most important and create a spending and saving plan based on WHAT I WANT.

I can create a plan to be spontaneous.  I have decided how much money I am going to flow towards living the lifestyle I want today AND how much money I want to be saving for longer term goals.  

I’ve turned my lifestyle and future goals into dollars, and I can put savings and spending on autopilot so money is flowing in the right direction, at the right time, in the right amount.  

“Right” being a term that I have defined – and you will define for yourself.  Something that I evaluate regularly and make adjustments as life and goals change.

Oh, and by the way, it’s not perfect.  “Balance” isn’t always easy or super fun in the moment.  It’s about making the choice about what I want and what’s most important to me.

How can you do this?

The first step is to start to gain awareness of where your money is flowing right now.  How much are you spending in different areas of your life?  How much on food, travel, going out, hobbies, interests, your business, etc?  How much are you investing, saving, using to build wealth?

Second, figure out what’s important to you.  What are your goals?  Do you know your top 5 core values?  Get clear on what you actually want out of life, or even what one step better looks like for you.  How much money do you need to be saving to reach your goals? When do you want to accomplish your goals?

Next, look at your current income and see if your current spending and saving levels allow you to maintain your current lifestyle AND meet all your goals on time.  Sometimes the numbers add up, other times they don’t add up – and that’s okay.  

Prioritizing goals and where your money is flowing at any given time is the hardest part.

Once you can get clear on your priorities and where you want money flowing, that’s when you can star to make real changes to align your spending and saving with a good quality of life today and in the future.
If you struggle with this balance and want to talk through how to apply this to your situation, schedule a free 30 minute money chat with me, and we’ll get it all worked out.