protip : if your spending more than you are doing it wrong.
so what do we need to save for to be financially grounded
1. Emergency Fund - first and foremost your not going to get anywhere if you amass a large pile of cash and then your car breaks down, you lose your job and the kids get sick. All that hard work for nothing.
So we need an emergency fund, the people that calculate things for a living suggest 2-3 months of your gross income ( the Dinero you put in your pocket before you get taxed.) This provides the cushion should something happen so you can keep your pile under your mattress.
2. We need a Sinking fund (optional but recommended) this is the what we fix the leaks with. The repairs and other things that are guaranteed to happen in life. Depending on your situation these things vary.
3. Retirement - the sooner the better. because when everything is all said and done. This is your sit on ass fund, and the more you have in here the sooner you get to sit on your ass and grow vineyards, or whatever else Charles Swab thinks old people do when they retire.
3 and a half. Business Investments. We all need a side hustle. Collecting one pay check is cool , but Collecting two is even better. With most things you have to spend money to make money. Asset building do you do it? These can be your own business investments like starting a lawn ninja company ( gotta get overhead) or investing in the stock market. This all requires money to start.
4. Education - Yours or your kids. You think they give Chic-A-Filet's franchises to just any dumbass. We need a degree to show people. and plus you can get your business degree all online now!
4.The things we Don't need fund - this can be for a vacation, a new car, brand new furniture, whatever. These things have never been a priority to me, 2/3 of all self made millionaires live well below their means. It's not in the plans to struggle through life to visit Europe for week and a Lexus doesn't need to be the reason i have to choose between chicken and rice everyday or a great well balanced diet.
These are the goals. You can vary them however you like, this is my outline and its worked pretty good so far. I do plan on visiting Europe, its just not in the cards right now unless I want to go Vagabonding (seriously thought about it)
More topics to come on different types of savings.
A Penny saved is a Penny earned!