Ever wish you could go back in time and tell yourself a piece of advice that could save you from heartache and pain? Consider this a message from Future You with a few tips to make sure you’re ok in the future.
Did you know that cultures without a future tense in their language are better savers? That’s because they are more connected to their future selves. They don’t say, “I will sort it out”. They say, “I sort it out”. They’re more inclined to take action in the present with matters of their future.
Try it out. With financial matters regarding your future self, make them relevant now by ditching the future tense. I
will save for my future self.
Here are some practical tips to protect Future You:
- Consider Future You. What life do you want for them? How much will this cost them?
- Open Future You an account of their own that Present You can’t touch. Pay them regularly.
- Make the payment affordable Long Term.
- Hide or Lock the account and set the payment up automatically
- If temptation arises and it’s literally not life or death, make other plans to save – this is not your money. You will be robbing Future You! A little now is a lot later.
- Imagine all of your deposits are double but you have to serve the time to get it.
- Work out how much Future You will have and name the account this much, eg “Future You $345,897”
- Treat it like a time-capsule. Set a deadline for when this money can be used. Eg, 60th Birthday