Think about how many times each day you are prompted to make a purchase. Before leaving home in the morning, you are likely already flooded by advertising for the latest products and services on the morning news, radio, and even by friends and family on social media.

With constant messages to purchase filling our day, it is harder than ever to discipline ourselves not to overspend on things we don’t need. It’s no wonder that in 2016 the average American household had $5,700 in credit card debt!*

There is a simple solution to changing overspending habits, and it isn’t by making more money to cover more expenses. Wealth is not about how much money you make, but about how much money you keep.

The secret is to define your goals and create a savings plan, so you know exactly what you are saving for and how much you need to set aside each month. Whether it is one or 30 years down the road, your mindset and behaviors will change because you can see your dreams in front of you. You’ll be able to drown out the “must-have” items when you see how they delay your progress.

Here are a few questions that will help you hone in on your long-term goals:

  • What is your mission in life?
  • What is your dream?
  • If you didn’t have to work to earn a living, what would you do with your time?

These are deep questions and it may take some time to find the answers. Once you do, it’s important to develop a plan to get there. Contact a trusted professional at 1st National Bank to help you start a long-term savings plan today.

*Source: https://www.valuepenguin.com/average-credit-card-debt

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