2016 Spokester Search: Christopher C.

Christopher is a 22-year-old from Dearborn

Christopher's Situation

What's up! The name is Chris. Im an alumni of Specs Howard: School of Media Arts and majored in Radio Broadcasting. Currently managing a weekly online bookclub group called, "Bookaware Bookclub". Every week I upload a book that peaks my interest exploring the many topics revolving around Health, Wealth, Social, Happiness, etc. The goal is to bring more awareness through the education of books and discussions, especially around the subject of finance (favorite topic personally).

Christopher's Blog Post

Alright! What are FIVE ways for you and I to save up for an extremely fun Michigan vacation? 

1. First! Establish a financial plan for your money! I know, I know, that's pretty obvious. But this is more of a psychological effort than it is a physical one. Everyday we are tackled by sales people and companies to persuade us to spend money. You and I have to combat that way of thinking. Discipline is key to accomplish that goal for saving up enough money for that all around fun vacation. Sacrifice the short-term pleasure for the long-term goal. Ignore those bad impulses. 

2. Open a savings account dedicated to your monetary vacation savings. You simply need a place to automatically put your money so you either don't lose it, or worse, spend it on things that don't help you achieve your financial goal/vacation. 

3. Pay yourself first! You are your own business! Invest in yourself! Automatically set aside enough money each pay cycle/pay period from your source of income (i.e. job, allowance, etc.) to accommodate the goal you established at the very beginning of your journey in which we will call your "vacation savings". Dissect your financial goal to figure out how much you need to put aside each period/month. For example, If you plan on taking a trip a year from now and you plan to save up $1,000, that means that within each month of the year (12 months), you'll have to save at least $83.33. Here is the equation, 1000/12 = 83.3333. BOOM! You now know your monthly goal. Now hold yourself accountable for it and stay committed to it.

4. Leverage! Now what the heck does that mean?! It means to use the benefits from external sources to your advantage to achieve your goal. For example, and if eligible or old enough, there are plenty of credit card companies that offer credit cards specifically for travel expenses. It's called a travel rewards program. The benefits for these credit cards can vary from cutting cost on gas/flights, getting us special discounts on partnering hotels, saving you and I money on certain restaurant expenses, and maybe even good deals on special events within the city/location. Obviously, later on you will have to pay back your dues, but with the right financial plan in mind, you'll be able to pay back everything in full with a few benefits to boot. But if you can't establish a good plain behind using a credit card, then I highly recommend to not take the risk. 

5. Budget! Put a limit on how much you spend throughout your daily lifestyle. You don't have to buy a Starbucks Frappuccino everyday. You don't have to buy every video game or materialistic thing that puts stars in your eyes. Be selective with your consumption. Prioritize. What is more important? Yes, I know. It sucks, but it's called being responsible and disciplined. And you will thank me later for it.