Priority Spending

A long time ago, when I was starting to get my finances in order, I did everything I was supposed to do.

I made out budgets, I tracked my spending, I watched all the small expenses, and I planned for the bigger expenses. This was all well and good, but something was still missing. I was covering my basic needs of shelter, food, and utilities just fine, but I still didn’t feel like I had a real plan or a blueprint for my future. The extra money in the budget wasn’t really spoken for. It was just kind of hanging out there in space, getting spent on random stuff.

One day I decided to write down everything I wanted my money to do for me. This included things like helping me to retire


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2 Responses to Priority Spending

  1. Gail says:

    Using multiple savings accounts really helps to keep things straight. Not only do we have several accounts at our bank, we have an ING account that we can slice into different accounts as we need them such as the money set aside this year that we used to go to our son’s wedding. Having it in a separate account kept it from getting spent for the year and ahalf we had it set aside. As long as there is no extra charge to have the accounts it makes saving for different things so much easier.

  2. Tim says:

    I think many people start out with some sort of plan for their future but due to spending urges and impulse buying, that plan can easily be detoured down a different path. One thing I have been able to do other than keeping multiple accounts which has been mentioned above by Gail is when I ever feel the urge to make a purchase or spend money I immediately tell myself to take a step back for a week and really assess the situation. If you find yourself about to make a purchase on impulse. Take a week to really think about it. For me 9 times out of 10 I won’t go through with it.

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