. But now that we've removed the elephant that's been in the room for half a decade, we weren't sure how to create habits that would ensure a healthier financial future for our family of four.
My husband and I agreed that we wanted to budget more effectively, save more money for retirement and our kids' college, and set aside as much as we can for emergencies along with spending and travel. Other months, we budgeted in a way that showed us where our money was going, but didn't contribute to our overall wealth. In other words, we didn't prioritize saving.
In our meeting, the CFP recommended that we try to shift our perspective on budgeting. Instead of allocating all of our income toward expenses, he encouraged us to "pay ourselves first" — to set aside a certain amount for savings before it even hits our checking account. , we plan to start allocating a specific amount to general savings from his paycheck. Since I'm a freelancer, I'll be putting aside a sum for my own retirement.
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