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I Am a Saver and a Spender. Is This a Financial Issue?

October 17, 2024 I am both a saver and a spender – is this an issue? Well, it depends. I could do things differently and learn new strategies that support my lifestyle. I am very aware of my financial goals and priorities, and I know my love for exploring new restaurants and places. How to balance my budget to support my goals and lifestyle? This has been the biggest struggle for me so far.One easy piece of advice from my financial coach was to write down a spending worksheet for my daily expenses. By doing this, I can identify which things I am buying more, which are a necessity, which ones I can do less of, or which I can eliminate. For example, do I need to go to the most expensive restaurant every week or can I go once a month? Do I need to always pay for my friends’ meals, or can we split the check sometimes? Should I buy every clothing item from expensive brands, or could I shop for generic brands? Lots of things to think about, but at least I could evaluate my needs vs my wants.I am constantly negotiating with myself, trying to find common ground. I know that two of my most important financial goals are to have an account for my set expenses balance with at least three months surplus, and the other is to increase my savings. By creating ways to monitor my expenses closely, I can move around my income based on my priorities, and it makes it easier for me to say no to some unexpected and unnecessary purchases.I know that every day I must consciously work to improve my money habits and check in with my financial goals to stay the course, but the more I do it, the less it feels like a chore and more like an achievement. You might also be interested in I am committed to continuously learning about financial strategies, and developing good money habits is essential for long-term financial success. Here... Here are some steps I can take to prepare: 1. Review of my financial goals. I am reflecting on my financial goals for the past year. What did I achieve... It has been challenging to save after the holidays or recuperate the money spent on gifts, hosting parties or traveling. I am trying a few strategic plans... Developing sustainable money habits is essential for managing my finances to ensure financial freedom. Here are some strategies that helped me maintain... This is the holiday season. For me, it is time to visit my family, take a little vacation and relax after a year of working. But it is stressful to think... Reflecting on my financial journey since the beginning of the year, I realize it was full of surprises, challenges and learning experiences about finances... Every holiday season, I travel to my country, Colombia, to visit my family, and I also travel for my birthday during Thanksgiving. At the beginning, I... Keeping up with my financial goals takes time, discipline and ongoing commitment. Here’s how I am building my path toward a more secure financial future... After I started looking closely into my finances, I could analyze my strengths, weaknesses, threats and opportunities by organizing my money based on my...
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