Having the Right Tool and Knowing How to Use It Can Make Life Much Better
Over the last couple of weeks, we have discussed why it’s critical to save money for those big irregular expenses and unexpected emergencies. Next, we began the process needed to start building a “Rainy Day” fund by determining how much and for what. The Savings Transfer Sheet is like any other tool, it doesn’t do you any good if you don’t use it.
As is the case with everything that’s worth doing, starting is the hard part. Saving money is no different. It’s like digging a hole.
What if there’s an underground water line leaking in your back yard. You can see that spot where the grass is green in an otherwise brown lawn. The water bill is more than ever before and getting bigger each month. That doesn’t matter, the prospect of getting your shovel out of the tool shed and digging is more than you can bear to think about. So, you put it off and pretend that it’s not a problem.
The green spot in the yard keeps getting bigger and greener. The water bill keeps getting bigger too. You decide to cover the spot in the back yard with an above ground swimming pool. That took care of it…no more green spot. You know what they say. Out of sight out of mind.
Then one day you get a water bill that is so big you decide that you’ve got to do something. So, you drain the pool, get a shovel and start digging. Then before you know it, you’ve uncovered the pipe, found the leak, made the repair and filled the hole.
That wasn’t near as bad as you thought it was going to be. Once again you are aware that this is one of those times when the overwhelming dread was way worse than the actual process. The next water bill is back where it used to be, and you wonder why you weren’t more proactive.
A shovel is a simple tool that’s easy to use. It can fix a problem before it gets too big, but only if you use it. If you don’t the outcome can be devastating.
The same thing is true about the Savings Transfer Sheet. If you will take the time to get it out of the tool box, spend some time learning how to use it and use it regularly, it will make a significant difference in stopping your financial leaks.
Wouldn’t you like to have your money filling up the pool rather than leak under it.
Here are links to the Savings Transfer Sheet template and the Savings Transfer Procedure, free for your use. (expected to be active week of 5/21/18)