I can’t count the number of times I’ve thought to myself: “I need to save more money.” But that’ll end soon, because in 2018, I’m going to make it happen.
I’ve always been a pretty good saver, but this year I’m setting an ambitious goal: save 70% of my income. My plan is to split the savings between three goals: my emergency fund, my retirement accounts and a new home down payment fund.
My main motivation is wanting to feel more financially secure, especially because I’m now in my late 20s and feel like I’ve stepped into the “real adult” phase of my life. I want to see more of my money go toward saving and investing rather than, say, bar tabs or concert tickets.
I work as a freelance writer, which means my income varies from month to month. And while I can’t always control when an editor will approve a story or when I’ll get paid, I can control my spending and saving. Saving at such a high rate puts more of the power in my hands when it comes to my finances.
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