So, you get $2000. What now?
Most of my past clients spent it. A big screen TV. A vehicle. Gifts. A new wardrobe. They said they needed these, or deserved them after such a long stretch of bad luck.
Frankly, I agree that a person who is going through, or has recently gone through, a stretch of bad luck deserves some luxury.
But does it need to cost the whole windfall? What if the luxury was a $10 bottle of the finest bubble bath you could find? Or even that $16 box of fancy chocolates you’ve been craving for two years? Or the $30 winter coat from the thrift shop vs the $8 one?
What then? You’d still have almost $2000 left! And how much more does this become? How much interest would you relieve yourself of if you put it against your debt? How much would it grow if you invested it in a low-fee index fund? How many hours of paid work could you complete if you used it to hire a babysitter?
But what if it were only $50? A cash payment from a side gig, a birthday gift from Grandma, or a school supplies supplement from your welfare program? In this day and age, fifty bucks isn’t a whole lot, right? Might as well blow that? Except… Imagine how you feel if the next time you’re in a pinch—you’re too sick to work, you’re a touch short on rent—that $50 is sitting in a savings account, ready to save your butt? How does life begin to change? You pay your full rent on time, which eliminates late fees and an eviction notice, which gives you a sense of stability and ease, which drops your anxiety, which allows you to work…
And so the positive, upward spiral begins!
When is the last time you had $10 set aside to help you out of a jam? Where can you find $10 today to put aside for your next one?