Blog Every Day in May challenge put together by Jenni of Story of My Life. (Yeah, I know I'm a week late to the party, but there was a little something called a 20-page final project that I was furiously working on last week.)
Day 8, Wednesday: A piece of advice you have for others. Anything at all.
- Don't just talk about how much money you're saving, but quantify it and make sure to pay yourself. For instance, a lot of people talk about how much money they save by packing lunch. That always makes me wonder: are they putting the money away so they know they're really saving it? How do they know that the $5 they saved from packing lunch on Tuesday wasn't blown on a grande soy chai and so-so scone at Starbuck's on Wednesday?
- I know I already said this, but it bears repeating: automatic deposit is your friend. I've been working part-time at best for the last two years, but I resolved to have $30 a month diverted to one of my investment accounts. (Some investment accounts require that you invest a bigger sum, like $100 a month, but Vanguard is great because it allows you to choose smaller amounts.) It was immensely satisfying to open my year-end statement and see the tangible effects of consistently putting aside that $30. I didn't miss the money at all, and over the long term I made a decent investment in my financial future. Not gonna lie, I might have looked a little like this (just imagine that he's holding a year-end statement instead of a coin):