July 4th means grilling out, time by the pool and, often, spending money. Whether it’s throwing parties, visiting the holiday sales, or even if it’s simply the increase in the electric bill trying to keep your home cool, money tends to fly out our open windows. In honor of the upcoming holiday, we wanted to provide you some solid financial advice taken from the paths our founding fathers laid out for us. This way, you can enjoy your holiday and keep your budget on track!
Don’t Give Up On Your Goals
If you stayed awake in history class, you probably remember that the American Revolution was not fought easily. In fact, with a weaker economy, military and government, the colonists were facing quite the uphill battle in their plain for independence. But by staying strong and not giving up, they were able achieve their goals and develop they country they long deserved. This is true for your economic goals, too. It doesn’t matter how much debt you plan to overcome, or how much savings you’re hoping to accrue, the only way to achieve your dreams is to keep on moving forward. Don’t get discouraged by spending too much on the holiday picnic – you can make it up later if you stay with your ambitions!
Write Things Down
Nothing brings true clarity or accountability like writing something down. Our forefathers new they wanted a new government, so in order to properly articulate their ideas, they made the Declaration of Independence. To ensure the country followed principles they thought were valuable, they created the Constitution. Hundreds of years later, we’re still sticking to these values because they were written down for us to remember forever. This is also true for your budget and goals – if you write down what you’re supposed to spend on groceries each month, or what you hope to have in your emergency fund by the end of the year, you won’t feel tempted to change the number here and there. Seeing that dollar sign in ink makes all the difference!
Follow Your Own Path
Clearly, the early Americans felt the need to change how their lives were being led; they wanted a new way to organize their government that better accommodated their needs in the New World. They had goals they wanted to set and the path to those goals wasn’t cookie cutter. You should take this principle into your own life, including how you handle your finances. Not every saving tip or money app works for everyone; some people like to snowball their debt, while others like to pay off the highest interest first. It’s all about making your money work for you, and only you can decide what tips and tricks will help you achieve your goals.
Can you think of any other tips from the founding fathers that can help our finances? Let us know in the comments!
Like this article? Check out this other 'Tis the Seaon(al) article: "Smart Shopping Over Memorial Day"