When you think of doing good for the world and for yourself, you probably think of all the ways you can give back. However, there are a variety of ways you can contribute to doing good in the world and also for yourself. August 14 is recognized as Financial Awareness Day. You can celebrate by planning your own future, teaching others to plan for theirs or giving back to your community. Check out our ideas to celebrate below!
Determine Your Goals
Where do you see yourself in one year? Five years? Ten years? Nobody knows what the future holds, but it’s important to plan for the future and think about your finances. Consider life-changing events like going to school, buying a car, moving into a new house or planning for retirement. Maybe you want to travel the world. Also think about the good that you want to do. What causes or charities are important to you? Whatever your goals, think about just how much you may need to save to make those goals happen.
Save a Little to Save a Lot
When you set a large goal, it seems daunting. However, when you break up that goal into smaller, more attainable and manageable steps, it becomes an easier task to wrap your mind around. Think about this—if we asked you to save $1825 this year, that sounds like a big number. However, if we told you to save just $5 per day a year, that’s the same number! Take whatever your goal was that you determined and break it into smaller, achievable steps.
Research Investment Options
To help your financial future go further, consider ways to invest. That may involve consulting an expert or reading up on the tons of free content that’s available on the internet. An investment can be as simple as opening a savings account to receive some interest for leaving your money in the account. Or, it could be more complex such as investing in stocks and bonds. Everybody has a different comfort level with investing, so determine where you stand and how you’d like to invest your hard earned dollars.
Consider Your Giving Goals
While becoming financially responsible and independent, you may want to consider how you can give back to others. Remember the good that you wanted to accomplish? If you’re feeling generous and would like to build this into your plan, make sure to research organizations you love and determine how your money will be used. Chances are that if you are reading this article, Habitat for Humanity of Greater Dayton's mission aligns with your values. Think about how much you would be comfortable giving back each month, or throughout the entire year and set a goal!
Use This Day to Act
Use this holiday as a reminder to put yourself and your financial future first. Plus, Financial Awareness Day is the perfect opportunity to reset your focus, and consider giving back to the causes that are important to you. Starting small today can lead to a big future for your finances and the opportunity to help as many people as possible.