A few weeks ago, I was brainstorming post ideas. I started thinking that maybe I would write a post about my January budget (Remember wayyyyy back when I said it was my January “resolution” to update my budget?). Then I said, “Hey! Maybe I should set a financial ‘resolution’ every month and update everyone on my progress of the resolution at the end of the month!”
And then I stopped.
That sounds TERRIBLE. Even for me- someone who loves everything having to do with personal finance.
But why is that? Why does the idea of having a monthly financial resolution sound terrible to me?
I think it’s because I love the idea of “set it and forget it” when it comes to finances.
When I was in my super money saving phase, before I saved enough to quit my job for 2 years and pursue full-time self employment, I wasn’t doing monthly challenges to save more money. I was just doing my thing, living my life, and it just so happened that I had cultivated a way of living that allowed me to save up 50% of my income each month. I wasn’t doing challenges- I was just living life and happened to be saving a good amount of money in the background.
But here’s the issue.
(and here's where it ties into the email I sent at the beginning of April email, for those of you who are on my email list!)
For the past ~1.5 years, I’ve been writing monthly Money Saving challenge emails. Here I am saying that I don’t like the idea of making your finances a challenge- but I’m sending out challenge emails EVERY MONTH! Ummm, that doesn't make sense.
So what do I want to do instead?
I'm not 100% sure yet. But I am realizing that I’m a BIG fan of setting habits in your life that allow you to LIVE your life fully, while not overspending your income. Get used to living below your means and you won’t have to set monthly challenges to save even more! You can just set it and forget it. And that’s the BEST thing ever.
Here's what I do know: I'm going to start trying to create more posts, resources, and tools that focus on that "set it and forget it" mentality that I enjoy and practice in my own life. I hope you enjoy that philosophy too!
Which parts of your finances are at the "set it and forget it" phase?
For me: automatic monthly contributions to my IRA, autopay the full balance on my credit cards each month, autopay for utility bills, and I ALWAYS do an end-of-month review of my finances where I calculate how much extra money I have left over that I can throw into savings. I don't have to ask myself whether I'll do my monthly review- it's a non-negotiable in my life.