3 Reasons To Save | Be Prepared For The Holidays | Sinking Funds

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Do you want to retire on time or retire early?

It is important to build a strong foundation of savings before you start investing for your future and building your retirement nest egg

The most important habit in financial planning is the habit of saving money, setting money aside for the things you want to buy, and then buying things with money you already have.

I explain the 3 reasons to save in this video. Short term savings, Mid term savings and Long terms savings!

Saving for specific things is called by many a cash envelopes process where they have a sinking funds budget system.

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00:00 - Intro
00:55 - Saving money for the holidays or for birthdays, etc.
01:31 - 3 Reasons to save
03:34 - Mid term savings.
05:47 - Long Term Savings (investing)
07:22 - Managing your savings accounts

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Once you have learned to live within your means, it’s time to grow your means!

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To help individuals and families develop empowering beliefs and emotions about money and teach them the necessary skills to become self-reliant, build wealth, and live a life of abundance.

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Disclaimer.
The videos on this channel are for educational and general informational purposes only and are not intended to provide specific advice or recommendations for any individual. As such, it should not take the place of consulting with a certified financial planner, CPA (or other tax professional), legal, or other financial advisor. While we try to provide accurate and timely information, it may not be suitable for your specific personal scenario or specific circumstances. I am a financial professional but without knowing your specific information you should consider what you learn here as general advice. If you want specific advice and coaching please contact us at [email protected]. I am not a tax, legal or investment advisor representative.

Our coaching is based on the data and research found in the books The Millionaire Next Door, The Next Millionaire Next Door, and The Millionaire Mind by Thomas J. Stanley and Sarah Fallaw. It is also based on 20 years of my personal experience working with money.

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