Now that we’ve surpassed the first quarter of our savings goal… it’s all about staying motivated.
I’ve done a couple things to keep myself motivated along the journey. We drew out a chart to cross off every $1000 we saved + gained so every time I colour in a few rows I usually feel pretty good- until I look up and see how far we have to go of course but it still feels damn good colouring in our successes.
I think there needs to be a balance of dreams for the future while pursuing financial independence. It’s easy to allow yourself to get wrapped up into waiting for early retirement to do certain things but I think that’s the wrong idea ( for some things anyway) — we’re focusing on enjoying life now and hopefully also enjoying life in the future. Not sitting around eating ramen and shoving every last nickel into our stash however tempting it may be.
I transfer all the spare cash into to the investment account once or twice a month so it feels like it’s continuously ticking up. I haven’t had to deal with market value dropping significantly so I’m hoping I’ll handle that well and not get discouraged when the roller coaster is eventually sitting at the bottom of the hill for a while. After all history says it always goes up right. I’m balancing out my fear of what if about the market by keeping a bit more in cash in a tangerine high interest savings account.
Really what’s motivating me, is the freedom from needing a pay check. Even if I continue working knowing that I don’t have to if I decide I’m done is sure a lovely thought that’s motivating enough on it’s own. Really it’s just about having options and not having to be tied down to any money making job even if you enjoy it.
I don’t have any super specific goals when it comes to my plans for after we reach FI except freedom to choose. We’re not huge traveler’s so I don’t think we’ll do any major globe trotting aside from the occasional trip but I imagine they’ll be plenty of trips in Canada that would have otherwise been an extreme strain while working, more time for family and friends, along with more time to garden and cook without the pressures of the day job hours.
What’s keeping you motivated? What do you find discouraging?