I am always trying to front-load my money. I do this by placing more into savings at the beginning of a cycle, paying additional principal early in the loan cycle (it is funny how I do not miss the money), saving up money for big purchases, and making sure I put money away for the “regular” expenses I encounter, such as event gifts ( i.e., birthdays, graduations, etc.), landscaping, training, etc. I can only meet the financial demands if I plan my expenditures and stay disciplined with my saving protocols. I check my balances every week and ensure that my current goals and expenditures align with my future plans (retirement and grandchildren/golf/travel). The more I front load, the easier it is for me to adapt when “life” hits and I must divert my money elsewhere.
I put money aside each month to pay off unforeseen issues with our house. This year, we needed to divert money to pay for a costly and unexpected repair. Luckily, I had already saved up a good portion of the expense, so the hit to our other expenditure and savings streams, i.e., the vacation fund, did not take as big of a hit. By front-loading, I avoided being a victim of life’s little surprises.
Front-loading is a key to my financial success. Try it out, and let me know how it works for you.
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