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Last time I dug into how I think about finances, I was in need for a set of 101 step-by-step definitions. (Take a look here). Once the major pieces are in place, I’m finding that it’s more about handling things at a glance over months, with opportunities to reflect on whether I’m hitting my goals and intentions I can set (and meet) for myself over time.
Take a look at how I give myself peace of mind. The images below are mock-ups I made of the app I wish I had the time to build out for myself. Instead, I created a Google sheet template I use and share with others on this journey and curious.
Am I living within my means?
Rules of thumb are helpful guides - for example, 50-30-20 split recurring, fun, and savings. For months when I have a big trip or expense coming, it helps to put it all in perspective and see that on average, I am hitting my budget. And where I’m over in one area, it’s good to know where that money went.
How can I make progress towards savings feel real?
The adage “every dollar has a job” feels most real to me when I look at money left over after expenses, and instead of purchasing that splurge item, earmark it for a specific goal.
The danger is of course over complicating things (this is money not spent yet), but as a rough measure of assets accessible, it helps.
How can I make something that’s decades off feel real?
Long term goals are, by definition, a ways off. Being able to reassure myself that what I’m doing now is keeping me on track (and if I’m off, how much I’d need to get that compounding to work in my favor again) makes financial decisions clearer and more intentional.
What does this look like in practice?
The app snapshots above doesn’t exist (yet). For now, I’ve created an overview for myself that shows me the numbers I’d love to see at a glance and an easy way to plug in the category spends from my bank’s app.
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