My savings strategy lets me donate money and protect myself - Business Insider

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'I've donated money that I don't have and then paid for my groceries with a credit card, I've forgone depositing money into a savings account in order to support my partners, and I've blown through my savings account buying gifts for people I love.'

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, but our reporting and recommendations are always independent and objective.When the COVID-19 pandemic hit, I knew I had to come up with a formal savings plan that would help me offer financial support to others without going broke.

I only allow myself to deposit money into that account each month after I've paid off my credit cards, filled up my emergency fund, and contributed to my retirement accounts.I have a habit of worrying about the needs of others while neglecting my own, and this habit becomes most painfully apparent when I reflect on my financial life.

If this sounds like a humblebrag, trust me, I don't think the quality of giving to others without taking care of yourself is admirable — it's unsustainable at best and destructive at worst. It leads to stress, burnout, resentment, and can even ruin the very relationships it aims to nurture.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

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شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

Think before spending.

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