During the summer, it’s easy to get swept away by the seemingly thousands of activities that are happening in the hustle and bustle of your town. Perhaps it’s a country fair where you splurge on unnecessary amounts of ice cream, cotton candy and oversized teddy bears. Or that weekend trip to a luxury resort up north. Or even a few too many night’s out partying with your friends and eating the finest seafood you find on the menu. Your bank account is going to pay for it, hence why you must embark on thriftier habits to make up for your losses—Taragh Bracken style.
When it comes to maintaining a healthy lifestyle, Bracken is aware of how expensive collagen powder, athletic gear and ample gym memberships can cost. In order to live out her dream profession while also enjoying the beauty of summer freedom, she’s mastered investing the money that she already has. When you can grow your cash without too much difficulty, then you know you’re already winning.
Invest for the Long-Term
The stock market is volatile, this is already a given. Political drama, economic downturns and corporate profits make it entirely challenging to figure out what the horizon has in stored for us and when recessions may occur. Never sell hastily due to a panic of what may be coming, for you may be losing out on some hefty future returns. The second that the market drastically drops is when you need to stop paying attention to the news and your bank account. Over time is when you’ll reap the rewards.
Automatic Savings are Key
Every month, put your chequing account on autopilot through automatic savings set up by your online banking account. You’ll find that you will no longer feel tempted to spend on new home décor items, fitness apparel or extensive diners out. The moment you begin spending cash on the side is when you neglect your long-term spending and investment goals, such as buying your first home or upgrading to a larger car to accommodate your growing family.
Grab a Last-Minute Travel Deal
If you know you have a getaway in September yet don’t know where in this world you’d like to go, then you should sign up for notifications on Expedia or HotelTonight, where you will have the option to book affordable flight and hotels that can range from $50 to $75 a night. If you’re flexible in terms of schedule, then you can expect more flexible prices at your advantage.