Planning to fail may sound crazy and it may seem like you’re speaking negativity into the existence of your future life and goals, but when you think about it, it make sense. Right?
When I say planning to fail, I don’t mean start something and purposely fail at it. I mean do you have a plan in motion just in case you do fail? If you’re job goes out of business, goes broke, or even if you get fired, how long will you be able to survive until you find something else? Will you be forced to do something you don’t want to do, just to get some income in the house? Or will you be able to live comfortably for a few weeks (or months) and find exactly what you want?
Many of us, especially the younger generations don’t have a plan to fail- so if we lose our jobs, then we have no way of surviving and providing for our family. This mean we either have to file for unemployment (which is only 50 percent of what we were making) and pray that we can get those funds until we find stable employment or we have file for some type of government assistance to help pick up the slack. All, of which can be very draining and uncomfortable, mentally and physically. To prevent the latter from occurring, it’s best to plan to fail while you have the funds and opportunity to do so. By following a few basic steps, we can get us in the habit of saving and preparing for our future because even if we don’t fail, we still need to save- most people want to be home owners, car owners, send kids off to college, and that can’t be done without properly preparing and saving for the occasion.
- Open a Savings Account (Not at your primary financial institution. Make sure the can account incur interest).
- Deposit what you can from every pay check (if you’ve got direct deposit, you can have a percentage of your check deposited there or you can give a dollar amount).
- Refrain from using this account, so before you make a deposit, assure that all of your other bills and needs are satisfied.
- This is not a vacation fund, so if you want to plan for a vacation as well, try using a different account.
- Save, Save, Save!