Are Your Eyes Bigger Than Your Bank Account?
Do you love to treat yourself? Whether it be a trip to the salon, a spa, or your favorite clothing store, taking care of yourself is satisfying and well deserved, no doubt. However, if it's something that starts to negatively affect your bank account, that's another story...and that's when your eyes are bigger than your bank account. Been there, done that! It's good to be able to plan trips and vacations along with all that shopping in between, but before you buy that plane ticket, make sure you have enough money to take care of key essentials such as your mortgage, utilities, rent and food, once you return home from that ironic much needed outing.
That's not to say you should hold off from having fun and live under a rock. The mindset is more of a focus on having a financial game plan to help balance life's ups and downs, along with wants and needs. When it comes to finances, investing, saving monthly, or putting some of your hard earned money in an annuity or high-yield savings account is a sound solution. We all deserve to treat ourselves. Having a financial plan in place makes all the difference. To include making more trips and treats available in the long run. According to the online site, Annuity Expert, high yield savings accounts are currently available with a rate as favorable as 2.14%. While a 3 year annuity rate is as high as 4.6%. Others have even hit the 6.5% mark. Many products and banks are on hand to provide details on the best rates and offers.
Working on your credit score is also a great way to save money. When you're conscientious about your credit score, you'll be less prone to spend money on random things. When credit cards are maxed out and they've been used over and over again for a specific period of time, that's when your credit score drops. You've conquered greater things, right? You got this! Having some will power and good common sense about the dynamics of money, should do the trick. 😉. A work in progress and eventually more $$ in your pocket.