REvolve Real Estate Blog

3 Financial Keys that will Transform you from a Wandering Saver into a Boston Real Estate Investor

Posted by P. Bartash on Apr 8, 2018 9:56:38 PM
Boston Real Estate investing

Are you living paycheck to paycheck, wondering how everyone on Instagram can afford exotic vacations while you are stuck at home hunting for places to buy discount shampoo? Maybe you’re not into traveling but you do enjoy nights out with friends followed by an Uber ride home, $5 lattes, or buying lunch every day. Let’s skip the tips and tricks, set aside the conventional “work now, play later” approach to finances, and dig deeper into the psychology of saving to invest so you can do the things you enjoy now and without regret.

In this article, you will learn the following 3 Financial Keys to saving and becoming a Boston Real Estate Investor:

Value your time and money equally – the best savers know how to balance both
Spend some of your money on things that earn money
You can’t invest if you don’t have access – build relationships with individuals or companies you can trust so they can help put your money to work for you 

Now, let’s break this down a bit further…

  • Money Has Me Feeling Some Kind of Way

We get it – it’s tough to talk about money so you’d rather talk about love, relationships, problems, etc. Most people seem to have mixed emotions when it comes to their personal finances and it’s easier to ignore the subject by distracting yourselves with the nitty gritty details of your day-to-day lives or use the internet to secretly explore your fears - maybe you opened a new tab and accidentally ended up googling some version of “why can’t I save money?”

Either way, the countless savings hacks and tips floating around online make understanding HOW to save easier than ever, but none of these shortcuts help us understand WHY we are saving and WHAT to do with the money we accumulate. 

So, we decided to interview young adults who are in their 20s and 30s with the goal of better understanding the attitude people have toward their savings accounts. The results were fascinating, and some quick research confirmed what we had seen. Millennials are some of the savviest savers out there, but they are also very anxious when it comes to money.

Enter the generation of “wandering savers.” High levels of debt, endless temptation, a desire to enjoy life now, and the widespread acknowledgement that one of the keys to financial wellbeing involves “starting to save early.” Forget “spender’s guilt” we’re talking “saver’s guilt” in which a growing savings account does not automatically equate to reduced financial anxiety. Seems like a totally impossible, lose-lose situation, right? Hmm….

Before we explain WHAT to do with the money you’re going to save, we need to look at re-inventing WHY without conveniently ignoring money itself.

  • Saving Just for the Sake of Saving 

What if the source of this frustration/guilt/anxiety is tied directly to the need for a deeper purpose behind why we choose to save? If you’re only setting aside some money each month so you can afford a one-time purchase that meets your need for instant gratification, then it’s not difficult to imagine quickly getting distracted by unexpected “pop-up” opportunities to purchase short-term satisfaction

You: “I’m so close to saving $500 so I can finally replace my shattered iPhone.”

Also you: “I was super good and only bought five $15 lunches this week, so it’s cool that I spent $70 on drinks last night because I’m, like, basically saving money.”

On the flip side, there are those of us who have no issue stashing money away but constantly feel guilty about skipping outings with friends, work multiple jobs, wash, rinse, repeat…betting on our time rather than our income.

Paycheck to paycheckers, we’re here for you, too. Everyone on our team has been there at one point or another and we know you most likely don’t stand a chance of saving; either because all your energy is directed toward making ends meet or the small amount you’ve managed to save is constantly chipped away by unbudgeted costs (one-time broker’s fees, new tires, Uber surge pricing, etc.). There is still hope...    

The BIG IDEA is simple though:

Find small opportunities, as early and as often as possible, to reduce the amount of time it takes to earn the money required to support the life you want to live. This is where “saving to invest” comes into play.
  • I’m Bored – Just Tell Me What to Do, Please! 

So here it is…

It would be awesome if there were a button that allowed all of us to instantly understand the basics of financial literacy, build a collection of smart methods for saving quickly, and become successful savers. This button does not exist. The closest thing we can offer is the chance to learn more about how REvolve Partners can help you take $500 and put this mindset into action by investing in Boston Real Estate today.

Click on the logo below to learn more about us and schedule a call to chat with us directly about your financial goals.

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Topics: "real estate investing", Boston Real Estate Investor, Savor, Earn Money

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