They say it’s better to be late than never. They also say you can never teach an old dog new tricks. Well, I’m here to say I’m old and I learned something new and it’s better learning it now than learning it later. What I recently learned is that it is best to financially plan and SAVE ahead. Think about what you want to accomplish in the near or distant future and then save for it. In the ‘before time’ I just did things and paid for it heavily later. Not any more. I think about my future goals and I sit down, calculate the costs involved in accomplishing my dream and then save money for it so that it can successfully happen.
Why oh why did I not think of this resolution sooner?
So, one of my future plans that I am now currently saving for is my annual snowbird trek in the winter. In the ‘before time’ I would just go and worry about paying it after I got home. Not anymore. I am consciously socking away savings so that I can finally enjoy my winter breaks without feeling any financial pain afterwards. I am enjoying this new habit of mine so much that I started saving accounts for other future goals I am going to have such as, by next spring, we are going to need a new lawn tractor (prices starting at $1800 OUCH!)
I know, I know…..this was supposed to be a given but what I used to do was make the trip, buy the thing and then put it on a zero interest credit card and pay it off afterwards. This was doing it backwards! No more….I like saving for a goal going forward instead.
Like this post? Sign up for free emails whenever I write a new post. You can also follow this blog, for free. Sign up links are posted on the upper right hand corner. I also accept donations when you buy me a cup of coffee and a croissant. Links are posted on the right hand side wall. Thanks for reading my blog!
Ciphers From Cindi 
Hi Cindi, so are you still getting a wood stove for the winter? This was something you had said was a long term goal you were saving for? I have always been a saver and I pay all my bills monthly and get a monthly grocery and CVS order. I very seldom grocery shop during the rest of the month. If the food ain’t in the house I can get and eat it next month. This frees up time and money for long term goals. I then keep a minimum for out of pocket expenses in cash on hand and the rest of my monthly discretionary money I invest in qualified preferred stocks- paying dividends monthly and currently 9.85% tax free because of my income. I then use my rewards credit cards to pay for almost all my bills and necessities. The float ( days invested before I pay the credit card bills is 31-59 days) so I get a dividend check added to my total income the next month increasing the total gain to 12-16%. I use the rewards to decrease my credit card charges not for travel or gift cards now. Some people call this layering others leverage. Layering works well too for groceries and CVS. ShopRite you can use a manufacturer coupon with their digital coupons. Occasionally they have a discount on gift cards in their ads and I charged them using my 6% rewards credit card. Overall you can save 6% on the total bill with a rewards credit card and our ShopRite has a 5% senior discount day, CVS you can use your $10 monthly CarePass, digital or manufacturer coupons, and the ExtraCare coupons and A rewards credit card. Doing all of this gets me faster to long term savings goals. Sincerely, Lara
LikeLike
Yes, we’re getting a pellet stove. I’m also contemplating removing the wall between the kitchen and the living room and just opening up the whole darn space. It’ll keep most of the first floor super warm. Meeting with my SIL, the architect to get his slant on my plans. I’m using all my reward points now as cash and turning them back to pay down the charge card. I have enough gift cards now to supply a whole army. LOL! I wish just once you would be more specific about what stock you buy for a dividend check. Like what do you buy? How long do you hold it? What is your initial investment? What specifically is the amount of money you get for a dividend? I didn’t know ShopRite has a senior day. I know TOPS is the 2nd Tuesday of the month. I have to ask the customer service desk about it next time I’m at ShopRite. As inflation increases, these little saving tips really come in handy to keep that inflation at bay. Every little bit helps.
LikeLike
Hi Cindi, I think you confused in your research the common stock MTBC that does sell below $20 with MTBCP, the 11% cumulative preferred stock that is now selling at 29.07. Originally sold at $25 face value.
Good luck to you also in fighting inflation by cutting back and doing more DIY. I have done this also . I find there are many ways to financially solve having a quality retirement. And we all have the freedom to choose what works best for themselves. I agree owning a home outright gives you more control. Sincerely, Lara
LikeLike
Hmm, I left one this morning. Oh where oh where could it be? Sincerely Lara
LikeLike
Lara, we were in the pool most of the day. 🙂
LikeLike