05/17/2016
Still trying to figure out a plan to travel???
Someone asked me how I was able to afford to travel so much, so I figured I'd share that & more. Here's how I financially live....
1) I live simply. Example : I still drive and love my 99 Toyota Camry. I bought it used and IN FULL for $4000 about 8 years ago.
I still drive this car even though as The Budgetnista , I can make a month, what I once made in a year as a school teacher.
Why? Because living minimally has allowed me to work for myself via my business, The Budgetnista, travel at will, help my family and live life on my own terms by giving for a living.
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2) I live off of less than 40% of my income. I do this with the help of my budget. It's a critical tool in my financial toolbox. I also actively search for discounts. Most of my vacations cost less than 1/2 of what they would without a discount. Can I afford to pay more? Yes. But why should I when I can use what I save toward another trip?
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3) I take care of Wanda (that's the name I've given my 80-year-old-Self).
I save and invest 20% of my TOTAL income for retirement and wealth building. My financial advisor helps me (I'm a financial educator. Yes there's a difference). My advisor, James is amazing.
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4) I give. I give away 10% of my TOTAL income to causes, people and organizations that touch my heart.
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5) I allocate. Because I'm an entrepreneur, my income fluctuates from month to month, so I can't designate specific amounts of money to my goals. Also, I get paid in full, so nothing comes out. That means I have to do it myself. I do so by designating percentages vs. amounts.
Here are my current percentage allocations:
Retirement & Investing for Wealth: 20%
Taxes: 20%
Donate: 10%
Debt: 5% (I still have student loans from getting my Masters)
Emergency Fund: 5%
Travel Fund: 5%
Life and Business Spending: 35%
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{ Transparency: It took a loooong time to get here. I've been in business full-time for 5 years and was just able to consistently allocate my income in this way, this year. As my income grows, I'll adjust my percentages }
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We live in an excessive society. I think many of us have enough, but are wasting it on stuff that doesn't add real value to our lives.
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I've been called "cheap" more times than I can remember because I don't buy designer clothes and my car is older. It's not that I don't want those things, it's just that at what cost?
I'm willing to have less in areas of my life that aren't as important to me, so that I can experience more in areas that are. With patience & planning I'll be able to actually afford those things vs. just being able to pay for them.
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: Redefine your MORE. It might actually cost LESS than you think.
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*****I teach women how to do this for free,
here: www.livericherchallenge.net****
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