Become a Financially Literate Dreamer

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Hi, I’m Bettie and I’m a dreamer. I blog about financial literacy for millennials. My blog is filled with cartoons and fun stories from my own fabulous & frugal journey to become financially literate. You could say, I dream big.

But I can also dream on a smaller…more selfish scale. I am automatically saving each month, so in eight months from now, I will be able to buy the red vespa of my dreams.

Regardless of dream-size, I know to make a dream a reality, money will most likely be a factor.

First, I like to make a plan, so I know what I am getting myself into. I break the process down into action steps, each with a deadline and an expected amount of expense.

Adding up the total amount of expenses, that is the number I will need to make my dream a reality.

For my vespa, I have been automatically saving 10% of my income. My employer (and most employers do) offers the ability for my paycheck to be split, so that a portion is directly deposited in my checking and the other portion is deposited into my dream-to-reality savings account.

Depending on your timeframe and amount of money needed your strategy may differ.

If your timeframe is long and your amount of money needed is small, think about throwing all your change at the end of the day into a jar, and that money will be used toward your dream.

If your amount of money needed is large, you might want to consider investing. Think bonds or certificates of deposits for short timeframe. Or enter the stock market via an exchange traded fund or mutual fund, if your timeframe is long (think 5-10 years).

Whatever strategy you use, make sure it’s automatic. I’ve found it’s very easy to tell myself, oh I’ll wait till next month…next month….

Of course do your research ahead of time, whether you are saving or investing. And then set it up, so you do not have to think about it.

I hope all our dreams come true!

XO, Bettie

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