If there’s one thing I’ve become more convinced of by the day, there isn’t enough money to go around. Between inflation, tariffs, and life in general, something will get left off the budget. To avoid having your financial future be the thing left unpaid, you must pay yourself first, before all other bills and expenses.
Setting money aside for your future is difficult these days. Everyday costs like housing, food, and transportation are surging. It’s hard to stay on top of the basic necessities needed to survive day to day, let alone putting a percentage away for the future. I get it, it’s tough, but it’s something we must do.
No one should have to work well into their older age unless they want to. Federal programs like social security was never really enough to live on, but now even that supplemental safety net is getting threatened. If you still have decades left in the workforce, there’s a real risk the social security benefit might not be there when it’s your time to retire. That sucks, particularly because if you’re working now you’re already paying into it. But that’s a rant for another day so I’ll move on.
We must take control of our financial future. We can’t rely on the government or anyone else in our later years.
All too often people don’t consider their financial future until it’s too late. They find themselves thinking about retirement only when they are nearing that transition in life. Time is the biggest investment edge anyone has, regardless of who you are or your level of resources. If you maximize the time you have while you have it, you’ll be much better off financially. There is never a better time than right now to get started investing in your future.
But how do you do it? How do you make sure you set money aside when your budget is already at its limit? The key is a shift in your mentality. I’m a firm believer that you will spend money on the things you prioritize. So, that only goes to indicate that you must prioritize your future you.
You must prioritize your future self now.
That means treating your financial future like a regular bill that you must pay, no matter what. No, let’s take that a step further, actually. It means treating your financial future like the most important bill you have. Before you realize it, you will not have the luxury of not thinking about your financial future. That future will be the present, and if you’re not prepared, you’ll be left scrambling.
Think about it for a second. Most of us will, no matter what, make sure the rent or mortgage is paid, regardless of how tight money is. Well, you need to put yourself at the very top of the priority list.
You need to make sure you get paid, before anyone or anything else.
I know this sounds easier said than done on many levels, but honestly, particularly these days, it’s the only way to make sure you set aside money for yourself. Everything is super expensive these days, and when money is tight. Something will be left off. Don’t let you be the thing having to wait until next paycheck.
A solid budget will be your best tool to make sure however much money you have is allocated as efficiently as possible toward your future goals. To help you get started, check out this article we wrote on the first step in creating an effective monthly budget. Once you’ve got your budget locked in, putting money aside will be much easier.
Another thing to consider, particularly if money is tight, is cleaning up your debt. Those payments going out toward interest are a real budget killer. If you can manage to attack your debt, preferably eliminating it altogether, you’ll see much more room for investing in your future. Check out some of the articles we have helping you to tackle debt like this one on How to afford your minimum debt payments. Cleaning up your debt alone will greatly improve your quality of life, guaranteed.
If you can manage to invest in your future, I promise the older you will be super thankful. Now, if you’re struggling with what to do with all the money you’ve unlocked with the helpful tips and strategies here at Better Money Club, it’s time to start real investing. If you need help getting things going, check out the article we made on how to get started investing in stocks.
