Money isn’t everything, but it does make things a lot easier.
To help you maintain and “have it all,” here’s the 411 on your financial 911 emergency.
Make a List
You’ll need some paper for this: List all of your current financial commitments. Food, utilities, vehicles, stocks, etc. Now make another list, and this time think of the future. Where do you want to be two to five years from now? Do you want to have the same and/or new expenses (new car, phone, laptop)?
Make a Decision
This is where the heart-to-heart comes into play. Decide which of these expenses are expendable. Know your own limits. You know yourself the best, so determine what you can live without and go from there. Add up how much all of these things are costing you. How much can you afford to spend?
There are short-term goals and long-term goals. I like to think that the short term is just to ensure you can survive the long term. You might be interning or still in school; perhaps your personal goals financially overlap other plans you have for yourself. Remember that it’s possible to have the best of both worlds.
You have your lists and ideas all organized. You’ve done all of the writing and calculating. But, there’s still more work for you. Bad things do, in fact, happen to good people. This just means that sometimes, no matter how hard we try, life tends to intervene. (This does not include the new “X-Men” movie coming out!) Simply put money aside on a regular basis. Choose a number that’s most comfortable to you. $25 is a good start to put away on a weekly or monthly basis. This can be used for being in between jobs, emergencies, and any other financial burden.
As time goes by, people change, as do their goals. Check this list as often as you see fit. Do whatever works for you. Balance is possibly the best habit to have in your body, mind, and money.