Recently, Charles Schwab was quoted as saying that families are not spending enough time talking about money. He feels more time should be spent on this subject since money is crucial if you are going to fund your dreams.

I agree with this and will take it one step further. We don’t spend enough time having the right conversations with ourselves regarding money. Most of the time, we are trying to find ways to acquire more funds to support future purchases. But how often do we take time out to figure how we can save just a little bit more for our financial well being.

Living life close to the edge without a strong enough financial cushion to help survive difficult times is very risky and stressful. You can increase your profit by one of two ways: Increase your revenue and/or reduce your current spending. Being an individual who loves to buy new “toys”, I am not suggesting you should not live life to the fullest. After all, you can’t take your money with you when the earthly journey is complete.

Imagine if you managed to save the money you would have spent by not buying just one or two of those toys. Add those up over a period of time and you will find yourself having more money in the bank for those rainy days. As your reserve fund increases, your financial well being is being strengthened and you will find your stress level going down. If your financial well being is taken care of, you will be liberated to use your energies in other areas of your life.