Setting Family Financial Goals

“Michelle, if I was you I would put some of that in the bank for a rainy day.
You always want to be prepared.”

I can still hear my mother’s words to this day. Growing up, she tried to instill the importance of having a savings to my sisters and I. Not just with her words but with her actions.

We all had bank accounts early and would take bi-weekly trips to deposit a portion of our allowance earned from completing additional chores around the house. She would show us our statements and hype us up over how those small deposits were growing over time. And INTEREST? Why, that was FREE money the bank gave to you for letting them protect your money for you. With that type of role model and enthusiasm, you’d think I grew up to be a world class saver, right?

I am. Now. But in my teens and twenties? All of my mother’s advice and practices went straight out the window when I saw my first real paycheck.

“You never know when the rain will come, Michelle.
But being prepared will make a difference.”

Divas, I’m here to tell you. When it rained – it poured. Like a torrential monsoon downpour type of rain.

And I got soaking wet. No umbrella. Not even a newspaper to try and duck under while I ran for cover. It was ugly. I survived. I learned. I changed my ways.

These days “saving for a rainy day” means being prepared for that unexpected downpour. It means having an umbrella readily available – not just for me, but for my family. I have literally been in a place where I have lost everything. The thought of experiencing that with a husband and three children along for the fall – that fear motivates me to be prepared for those rainy days that may come along.

In the meantime, I choose to enjoy and live in my sunny days.

This year my children and I are doing a savings challenge. They don’t know it yet, but the money that they are so excited to track and save is going to be used for a fun family trip for New Year’s Eve. I. Cannot. Wait. The look on their faces will be priceless. And it will be more meaningful and enjoyable for us all because everyone will have contributed to our first real family vacation.

When I reflect on the rainy days I experienced early on in my adult life, it makes me appreciate the sunny days so much more. Knowing what can happen if I am not financially prepared, inspires and motivates me to make financial goals and take measurable action steps to attain them. Finding small, but significant, ways to save on a regular basis really is possible and truly makes a difference. I have the capability to splurge on occasion, but the desire to do so is not there as much because I have my big picture in mind.

Let’s Discuss:
Do you set personal and/or family financial goals?