How High is Your Money Radar?

It’s amazing how your decisions can be shaped by your “money radar”! My radar comes alive when I know that I have a small cushion in my bank account. It could be $50 or $1500 or even $10,000. When I reach my “money radar” limit, I visit the local super store or surf the web for deals.

This “cushion season” is not the time to visit the local home improvement store if you consider yourself handy, or the craft shop if you are feeling creative. For you, it may be lingering too long on the home shopping network or surfing the internet for better deals.

I know my money radar has hit interference when I am headed out the door with a cart load of things I talked myself into purchasing. On the drive home, my cushion is quickly replaced with guilt over all my purchases. (Could this be why the return isle at the local store is so long?)

It’s time to turn up your radar to at least 3 times your monthly budget and leave it alone. If you are blessed with a cushion, protect it. You have worked too hard to see it dwindle away.

When your money radar comes alive and you finding yourself drawn to spend, think about things that will bring true contentment: a walk down in the fresh air, a visit with someone who needs your time, or diving into a (no spend) project you have been meaning to tackle like cleaning out your closet.

Experts say everyone should keep on hand at least 3-6 times their monthly budget in case of illness or job loss. This is especially true today. While low savings account interest rates may have discouraged you in the past, remember the interest income is not the greatest reason for saving. Your family’s security is.

Set your money radar dial at its highest level and stay the course. The airways are filled with the temptations to give away your nest egg, but keep your focus. Building that bank account cushion is the one thing that will lead you on to financial peace and freedom.