Saving Money

National Fortune Cookie Day: How to Build Your Savings Fortune

The fortune cookie brings good luck and fortune to some of us. For others, it is just a whimsical thought to contemplate after enjoying a good meal.

Fortune cookies tend to promise endless wealth and instant gratification, but in reality, reaching your fortune involves a bit more effort, including: budgeting, planning for the future, and making smart financial decisions throughout your life. Although we wish obtaining a successful financial future could happen as quickly as cracking open a dessert, we’ve laid out some more realistic financial fortunes that will help you reach yours.

Good things take time.

Building a fortune doesn’t happen overnight, but with the proper planning and a little patience, it can happen faster than you think.  The first thing you need to do is create a plan – you can’t put the formula for financial success to work without a plan to accomplish it.  Take time to write out your goals and prepare a plan of action that is specific to your unique interests, skills, resources and abilities.

Don’t give up, wealth is around the corner.

Saving money can be difficult when you are first starting out, but the truth is, you will never reach your financial fortune if you are spending more than what is coming in. Determine what you need and separate those things from what you want. Then, compare your spending to what’s coming in, and see where you can cut back and save. The key is to not give up; you will become a budgeting expert in no time!

A celebration is in your future.

When you accomplish certain goals, such as paying off your mortgage, credit card or student loans, give yourself a little celebration. Make sure these aren’t splurges but budgeted celebrations you can enjoy. You are more likely to work hard to complete a goal when you know a celebration awaits.

It is never too early to achieve your goals. 

The sooner you start managing, saving, and investing your money, the sooner you will reach your fortune. You are never too young to start educating yourself on your finances.  It is important to realize what you need to do to reach your goals, and take that first step toward reaching your financial fortune.

We have a feeling your year will be full of happiness and smart financial decisions.