Relax: You may be doing better with money than you think Knowledge Center by: Kitty Tankard Apr 9th, 2025 It’s easy to let ourselves get discouraged scrolling through posts of friends in exotic locations and buying new homes. But don’t get caught in the comparison trap when it comes to your spending and saving habits. Here are a few tips to help you keep on the right financial path. Don't live in the land of "ER" There is always someone richer, with a car that’s better, and a home that’s bigger…. You get the idea! Take a moment each week to think about what you’re grateful for in your life and give yourself some praise for working towards your own goals, not living someone else's dream. Define what success looks like for you Do you really enjoy eating out? If it makes you feel good to be able to eat out 2-3 times a week, go for it! Maybe food isn’t your thing, but you really love designer handbags. That’s cool, too. As long as you can afford it. Define what really matters to you and get specific! When you know where it feels “worth it” to spend, you’ll know where it makes sense to save. So much financial advice is focused on sacrificing for tomorrow, but there’s absolutely nothing wrong with enjoying the fruits of your income responsibly. Set SMART Goals Specific Make your goal specific and narrowly-defined for more effective planning. Measurable Break your goal up so you can measure your progress effectively. Achievable Set a goal that you can accomplish within a specific timeframe. Relevant Pick a goal that aligns with your values and long-term goals. Time-Bound Set an aggressive but achievable deadline to clarify your task and keep you motivated. Budget for fun the smart way S.M.A.R.T. goals are a handy way to align our goals with our income. Want to take a cruise? Fantastic! Let’s set a SMART goal: Specific: A 6-day eastern Caribbean cruise in a stateroom with a verandah Measurable: $220 a month starting April 2025 Achievable: A goal you can realistically hit Relevant: Aligns with your vision for your future Time-Bound: We’re setting sail on May 12, 2027! That means we have about 24 months to achieve this goal: $220 a month X 24 months = $5,280 Just think about how awesome you’ll feel zip-lining between the ship’s smokestacks! When you really envision your goals coming to life, you’re more likely to stick to your plan to achieve them. Give yourself some grace Life happens. You’re going to have a day when you just need to buy an XL milkshake on the way home and send your budget over for the week. It’s okay. Remember that financial success is a marathon with lots of adjustments, changes and detours along the way. As long as you’re moving forward, that is a win!
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