Lots of people have bucket lists; lists of things you want to accomplish before the end of your life. A little tragic I know but the point is to keep your goals in mind. They give you something to focus on and work towards. Most people look to travel to fun locations, accomplish traditional milestones like marriage and children or do something most consider crazy such as skydiving or free falling. These are all great motivating activities to get you off of Netflix and instead sucking the marrow out of life. These are a little different from a New Year’s Resolution because these are more long term. There is not an immediate need to complete them but something you work towards. But where does money fit in?
What if you created a financial bucket list? These can be any financial goals you want to achieve in your life and there is NO wrong answer. You can literally put any financial goal on your list. Here are some examples:
- Be debt free by 30
- Finish paying off student loans 4 years early
- Buy a new car, in cash
- Have $20,000 for a down payment on a house
- Save $10,000 for a wedding
- Buy all my holiday gifts in cash (see my holiday budgeting post for more help there)
- Lower my weekly grocery bill by 30%
- Have a clothes swap party every month to save money on buying clothing
- Get a side job and use that income for strictly saving
- Have an emergency fund with $5000
There is nothing you can’t put on that list that can help you financially. In fact, I am going to add a bunch of these to my own bucket list! What kinds of goals will you put on your financial bucket list? Let me know in the comments!