It’s probably safe to say that we have all wolfed down a meal or two, when extreme hunger has hit. However, your stomach may be full but your brain hasn’t had enough time to register that fullness. Did you know that it takes at least twenty minutes for the brain to signal a full signal? It is much better to eat at a moderate pace savoring each bite while enjoying a good meal. Nutritionists suggest that a viable plan and keeping a food diary are helpful to avoid this uncomfortable and regrettable experience.
Saving money for an event, vacation, or even retirement can sometimes feel similar to wolfing down a meal to quell a hunger. You may have an “oh no” moment and try to save money all at once resulting in not being able to meet your savings goal or feeling uneasy about the entire process. That is when a simple plan and making small changes can make a difference! First, you need to keep a record of all expenditures for at least a month. We recommend about three months to know more specifically where your money is going. Then you can set a goal and start saving a specific amount each week.
Let’s break down the steps behind saving for a desired vacation. After some investigation into costs, let’s assume you set a vacation budget goal for $2,600. This may seem like a large pill to swallow up front since producing that amount at once may appear unachievable. However, if you have a blueprint and a goal in place, it can be done in a less overwhelming manner. One strategy in this scenario would be to put away $50 a week for a year. It is not a scary task nor is it one that is unachievable once you hold yourself accountable. A major key to success in any aspect of life, is holding yourself accountable. To aid in this task, think about setting alerts or automatic deposits each week. Taking a small bite out of that expense week by week can mean you reach your goal and savor each day of a good experience.
Regardless of the end amount a person wants to save, putting away incremental figures over time is a useful strategy to adopt. The sooner a person starts saving the more they can have stashed away for the time they need it.