Oversaving (is That Even a Thing?)

stuffed-piggy-bankAre you saving too much money? First of all, for many folks, that seems like such a ridiculous question in the first place. Many folks aren’t saving at all and many more aren’t saving enough; but saving too much? Is that really a thing?

I absolutely think so. Saving shouldn’t just be something that you do– it should be something that you do with purpose. Like I’ve said countless times in regards to our financial lives, it’s important to have a plan. That includes how and why we are saving. Continue reading

Goal Planning and Motivation

smart-goalsThis week, I read the journal publication of a study regarding a particular financial counseling strategy. The researcher was looking at a Transtheoretical Model from counseling psychology and seeking to adapt it and apply it to financial counseling. I thought it was a very interesting read. Yes, I am that nerdy. 🙂 Psychology is very interesting to me and I’m always looking for ways to try and improve myself and my ability as a counselor.

Reading that study got me thinking a lot about a particular idea: Motivation. Motivation is one of the biggest precursors to both change and success. So, if we don’t feel motivated to change, are we lost? Is there no hope for us to turn things around? I think the answer is yes and no.
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Four Pillars of Financial Health: Pillar #4 – Saving

Four PillarsIn this final post from our Financial Literacy Month special series on the Four Pillars of Financial Health, we’re talking about saving. It’s the most important part of your budget. Saving isn’t entirely without its challenges but it’s a necessity. Without savings, even the best-functioning budget is far more frail than it appears. A budget without savings is a house made out of straw instead of a house made out of bricks. If one big, bad life event comes along, it’ll blow your house down.

Sort of on that note, the economy is tough these days. We’re earning less as things are costing more. Some folks would argue that makes it harder to save money. I would say that makes it all the more important that we save.
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