Sounds like a simple adage, right? If you really want that big ticket item, work hard and save your money so you can afford it. But in this day and age, a lot more people are opting to open lines of credit and get their instant gratification with the purchase of their big ticket item. But what about investing in estate planning?
Sure, it could be a TV or a vacation, a car or a home, either way people want things and they want them now. I’m guilty of this as I’m sure you are too. However, we have all had the satisfaction of paying for something in full and the euphoric feel that comes along with it, even if it is that pesky credit card.
But seriously though. Have you ever saved up your money, went into the store and bought the item you really wanted? There is no better feeling in the world than getting that new piece of technology and enjoying it knowing that you don’t owe a minimum payment on it the next month.
But how do can you save?
There are a multitude of ways to save money. You can just stuff cash in a sock drawer. That’s tried and true and if you need money in a pinch, it’s always there. But that’s also the downfall. It’s accessible at all times!
Is Estate Planning Right for Me?
YES. Estate planning is right for EVERYONE! Maybe you don’t have a problem saving for yourself? Maybe you want to save for your loved ones? Estate planning with an experienced attorney in Ohio is a good start. These lawyers are trained and will show you all the steps it takes to protect your assets.
In addition to estate planning, you could also go the traditional route and open a savings account at your local bank. You can have it at the same bank as your checking account and then link the two for easy transfers. But beware, you run into the same potential problem as the sock drawer situation.
What Else Can I do?
Glad you asked! One last recommendation would to look into online savings accounts. I have an online savings account with Digit.co and it’s fantastic. Every few days they scour my bank account and take small amounts, some as small as a couple bucks, and put it in a savings account. The idea is to take an amount I won’t miss. Their technology learns my spending habits with my bills, so it won’t over draw my account. I can check my balance anytime by sending them a text with an instant response. I can transfer and save more money at anytime as well. If I want to withdraw my money, it will be in my checking account the next day.
Whatever you choose, just remember that it is possible to get instant gratification along with instant satisfaction.