Ask Shannah: How to Master Your Money Goals
In this Ask Shannah episode, I'm sharing how to master your money goals inspired by a question
In this Ask Shannah episode, I'm sharing how to master your money goals inspired by a question from Amanda:
"I love your podcast and have been listening for over a year now, being inspired and working towards my goals. Maybe my question isn't really a question but more like a request for a pep talk. I have 4 main money goals that I've been slowly working towards Paying off my student loans, saving 4 months of expenses in my emergency fund, saving $3,000 in what I like to call an "oh shit fund" (I can access this savings account much quicker than my emergency fund), and finally saving for a house. For the past 6 years, I've been laser-focused on paying off my student loans, but because of the pandemic, I decided to shift my focus on hitting my emergency fund goal. Recently, however, I've been struggling with staying focused on achieving the emergency fund goal. I now have only $9,000 left to go of my student loans, and I'm also only 3 months away from hitting my emergency fund goal, but now I'm getting the urge to use basically all of my emergency fund money to pay off my student loans now. I know if I did this, I would feel AWESOME, but know I would feel anxious knowing I had no emergency fund to fall back on. Do you have any suggestions for staying focused on one goal before making a rash decision and jumping to another goal? I know these are all good problems to have, but I would really love some words of encouragement or advice on how to stay focused on my current goal."
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Timestamps
00:03:50 Stay focused on your goals.
00:10:13 Stay focused and celebrate milestones.
00:14:44 Celebrate milestones along the way.
00:18:22 Celebrate milestones and visualize progress.
00:24:24 Be intentional with your spending.
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