Financial expert and entrepreneur Winnie Sun guides us through the different financial “buckets” business owners should be mindful of paying into regularly.
- The easy way to understand buckets is putting together financial goals like New Year’s resolutions
- Think about short term, mid term, and long term goals—such as your emergency fund in the short term, or saving for retirement (or even retiring early!) in the longer term
- Consider including an aspirational “fun” goal, such as a travel fund
- You can rank these buckets in terms of importance (for example, if you have a child close to college age, college savings might be your number one goal)
- If everything is on roughly the same priority level, try to put things in every single bucket along the way
- Encourage everybody in your household to participate—it can be a really great way to teach your kids about money!
Winnie Sun @winniesun
#WinnieSun 25 billion impressions shared | Forbes Ranked Award-Winning Financial Advisor | #CNBCFACouncil Personal Finance Educator Media Brand Spokesperson | Managing Partner of Sun Group