millennial finance


Are you the saving type who doesn’t have fun?

Are you the fun type who never saves? Can you be both?

Do you too believe that having a fun life and saving are mutually exclusive? That’s absolutely not true. You don’t have to wait for financial freedom to start having fun because seriously, what would that world look like? Can you imagine a world where most people having fun are old folks? Some people opt to have fun now and sacrifice their future financial freedom while others work hard leading boring lives to have a secure financial future.

In short; your question may be, can we really have fun and save smartly at the same time?

Well, that’s exactly what we are going to talk about. I can’t claim to have mastered the art of having it all financially, but I have some ideas that can help achieve a balance between personal financial growth and enjoying life. I know it can appear impossible and overwhelming but if you go through this process of financial planning and thought process you can promise yourself to have it all financially. I don’t promise it’ll be easy, but it just will be worth it.

Planning Is Boring?Give It A Try
So people are mainly advised to plan everything and to some, it may feel like nagging but it is supposed to be the everyday thought of your life. When you plan how you can save money and squeeze some to fun, you would be working with the aim to achieve exactly that and even more. If you want to go on a vacation once a year you can decide to reduce some expenses to fund the vacation leaving the savings intact.

If you don’t put down the plan you either would not go on a vacation to save or you would go and skip saving. Either way, it’s a waste because you would have done both with a great plan. I can’t say it’s that straightforward but working with different circumstances, a plan is really important for saving and enjoying life at the same time.

So I thought I’ll give you a basis on how you can plan. First, you are going to make an entire year plan where you state what you’ll be doing and what new thing you’ll bring into your life.  You will have stated ways you will fund every project you have in mind and allocate the amount of money for each. You then state fun stuff you would like to do and they should be realistic. After that, you make a monthly budget plan that will attain the year plan. It may go in the following order:
1.Savings and investments
2.Payment of monthly bills and total monthly expenses(your money should not be on the last coin here)
3.Others- you can start with an emergency fund
4.Pocket money-  This part of the budget is where you start smiling thinking on ways to be spontaneous about it. I’ll say go live your passion.
When you plan your life you get to discover greater goals you can achieve and that way you adjust to a better-balanced life.

Celebrate Your Victories

After you make a plan, you sure will have some victories. When you attain some of your financial goals you deserve some fun so don’t go straight back to work. The mistake some people do is they skip fun and get back to work to get more and more. Eventually, they notice that they’ve been living boring lives. Get out there and live a little. As for the few failures you can get up and try again having gained some knowledge on better ways to work on the goals.

Bottom Line
Wrapping it all up, I’ll say other than splendid ideas like conquering debt, cutting expenses, investing and all that serious financial independence building, having fun in the process is the most important. We should live passion-filled lives in spite of the wealth building. After every financial success, there should be a celebration. Rinse and repeat the process.

Yes, we can have it all, We just have to put in the work.

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