Credit Cards, Emergency Fund, Goals, Retirement, Saving
January 21, 2021
Now that coronavirus vaccinations have begun, I know that we are all eager to be able to get out more, get together more, and maybe even get-away (travel) more.
All of that will be fantastic news.
And yet, it also might be a dangerous financial time for many households.
As communities reopen, there will be the temptation to get back to all the activities we enjoy, whether it be meeting friends for a meal, getting a massage, or simply being able to shop in person, not just online.
But I worry that after all this isolation, the urge to “get back” to our lives might lead to overspending on all the things that we have missed most, and that give us such pleasure.
I am not in any way suggesting you don’t get out there and live. All I ask is that you be kind to yourself, and your family, by not giving yourself the freedom to over-do it financially.
Please be on high alert for an internal script in your head that sounds something like “geez, after the year we just had, we deserve to enjoy ourselves and splurge.”
You’re right. After the year we just had, we all deserve a whole lot of happiness and fun. But please don’t lose sight of what else you deserve:
Less financial stress.
More confidence that you are on a path to financial security.
The peace of mind that comes from knowing you are making progress on building your emergency fund, paying down your credit card balance and building up your retirement accounts.
As 2021 brings a return to all the “wants” that have been put on hold, you have the opportunity to stand in your truth and right-size what you spend on those wants. I know you are up to the challenge. Enjoying ourselves, being able to be with our friends and loved ones does not require over-spending.