“A penny here, and a dollar there, placed at interest, goes on accumulating, and in this way the desired result is attained. It requires some training, perhaps, to accomplish this economy, but when once used to it, you will find there is more satisfaction in rational saving than in irrational spending.” — P. T. Barnum
Best known as the founder of Barnum & Bailey circus, P.T. Barnum was much more. P.T. was an entrepreneur, building many businesses. He was a showman and also a politician. In this quote, he offers sage advice regarding saving.
I usually get a little laugh from people when I discuss how good it actually feels to save money, but it actually does. It is hard work keeping up with the Jones and spending all of your money and living paycheck to paycheck inevitably leads to high stress levels.
However, once you accept the type of lifestyle you can actually afford to have, and you begin a rational savings program based on how much you can afford to spend, you will feel less stressed and more free. Free from the angst that inevitably occurs from stressing about money and debt. Give it a try.
If you haven’t recently reviewed your financial plan you should contact your CERTIFIED FINANCIAL PLANNER™ Practitioner.