John 15:13 (NLT) There is no greater love than to lay down one’s life for one’s friends.
Have you ever wished someone a Happy Memorial Day? Most people think of Memorial Day as the kick off to summer vacation season, but it should be a time when we remember the people who died while serving in our country’s armed forces. As a veteran who served in the Army, I truly understand the sacrifices that are made each and every day to protect the freedoms that most of us take for granted. I don’t want to come off as a Debbie Downer or to make anyone feel bad, but I just wanted to remind everyone what the true meaning of Memorial Day.
So how can we all use the spirit of Memorial Day and apply it to our finances? Memorial Day is all about sacrifice, and as with anything worth having, financial security comes at a cost. To build your own solid financial foundation consider how you can start making small sacrifices now.
Sacrifice of your time
Periodically you should reserve some time to set, evaluate or modify your financial goals. Most people spend more time planning for a vacation then they do for retirement and that is a recipe for disaster. At a minimum you should review your financial picture quarterly. Monthly is better but at least every three or four months you should make time for your money.
Sacrifice of your spending
The only way you will be able to save more is by spending less. A great way to find out how much you are spending is by keeping a spending journal. If you have never tried that before, I can tell you from personal experience that it works. People that are good with their money know what they are earning but more importantly they know exactly what they are spending each week. I recommend that at least once every six months you should track your spending for two to four weeks straight. After you have completed that task, take time to review exactly where, what, and how much you spent. Go through the list thoroughly and see where you can spend less and, even better, what expenses you can eliminate.
For most of us, it takes hard work, sacrifice and determination to reach our goals. We all need to acknowledge that our present and future financial conditions are important and understand that what you may be giving up now is worth the reward you will receive later. As my conclusion I want to once again remind you of the true meaning of Memorial Day. Remember our fallen soldier’s, sailor’s, airmen, and marine’s for the sacrifices they made so that we can enjoy our Memorial Day, however we choose to spend it.
posted by Steve Repak
on May, 13
Source: Good Reads