How to be Smart With Your Financial Planning

The team at Captain Cash has seen families go from saving a couple hundred dollars a year to saving thousands and more. There was no huge pay raise, no lottery win, and no momentous changes to anyone involved. It requires a few small adjustments, compounded over the year, to make a new financial effort feasible. Consider buying more used items to shave off in every area, and create a budget that makes just enough sacrifices without going overboard.


Go to Used Shops and Secondhand


Drastic measures often need to be made, and that includes taking the dive and buying used. A good suggestion is to keep mostly to large thrift shops. Most major cities have a city thrift store that is almost like a warehouse of used items. The larger ones almost always have something that looks good and fits well. The smaller shops are a little too small to get something every trip out, and few things are worse than going out on a special trip and walking away needlessly empty-handed.


Be Disciplined, But Not TOO Disciplined


The big goals of financial planning begin with daily activities. They begin with small shifts in habits and thought processes that create a snowball effect towards the future. Budgets that are too disciplined and too restrictive will actually cause a backlash. Budgeters will just find it impossible, and it will discourage them from keeping it up.


For example, a family food budget is noted to go from $400 a month to $200. That is going to require some serious sacrifices, and it may not be enough. The family managed to hold onto their budget for the first week. But, after the second week, they threw a few extra items in the cart. They even got fast food twice that week because everyone was so hungry. It is easy to see how a financial planning budget that is too disciplined is actually counter-intuitive. Cutting the food budget for the month by $100 is far more possible, and requires more realistic family changes.


A used piece of clothing at a thrift store could be 5$, whereas a new item bought right in season for brand new could be 45$. Price differences like this exist in every industry, and it is up to buyers to creatively explore their options. Set a list of small sacrifices that every member of the family can stick to together. A popular area is food. Everyone is held accountable. Truthfully, that is the main way to really apply a financial goal.