{"id":7486,"date":"2014-09-24T12:21:52","date_gmt":"2014-09-24T18:21:52","guid":{"rendered":"http:\/\/www.coolchecks.net\/blog\/?p=7486"},"modified":"2014-09-24T08:26:21","modified_gmt":"2014-09-24T14:26:21","slug":"save-for-self-fulfillment","status":"publish","type":"post","link":"https:\/\/www.coolchecks.net\/blog\/budgets\/saving-money\/save-for-self-fulfillment.html","title":{"rendered":"Save For Self-Fulfillment"},"content":{"rendered":"

\"Budget<\/a>
Budget For Enjoyable Vacations<\/figcaption><\/figure>There are people, believe it or not, who save with enjoyment in mind, rather than serious objectives such as major purchases or retirement. They consider personal growth and fulfillment worthy objectives for their savings. Their goals could be as diverse as donating to a charity pursuing a hobby, traveling or doing things that make life more enjoyable. <\/p>\n

Ohio State University did a study to see if there was a correlation between Maslow\u2019s Hierarchy of Needs and people\u2019s saving habits. Maslow\u2019s Hierarchy of Needs? That\u2019s an old established psychological tool that looks at human needs and ranks them from absolutely necessary (food and shelter) to more lofty objectives (fulfilling one\u2019s potential, etc.) The vast majority of individuals have to cover the basics before moving on to more abstract requirements for a happy life. Most savings objectives follow that same pattern. Retirement, security, emergencies\/safety and family needs are what inspire most people to save. Only a few reach that state of perceived well being that they will devote savings to those \u201clofty\u201d goals. But, the researchers found, there is a higher likelihood that they will actually do the saving. <\/p>\n

In fact, the researchers learned, the self-fulfillment goals may be more important to this particular segment of the population than the \u201cnecessity-based\u201d objectives are to their compatriots. Desires for self-fulfillment are \u201cincredibly powerful motivators for actual savings behavior,\u201d they concluded. <\/p>\n

By extrapolation, they suggest that thinking about one\u2019s self-growth might be impetus for more effective savings. They say that those motivations can be built into an individual\u2019s approach to saving for the future.<\/p>\n

While the practical needs of a family are likely to take precedence in making decisions about savings, not all human needs are covered by that kind of thinking. There should be room in the analysis for such things as dreams of becoming an entrepreneur, taking classes in a favorite subject, traveling, donating to charities that are near and dear to one or any other objective that doesn\u2019t fall into the \u201cnecessary\u201d category.<\/p>\n

Based on their analysis, the researchers suggested that someone with a desire to set aside money for self-fulfillment should start with an analysis of what they really want to save for. Then begin by putting spare change, if that\u2019s the most you have available, in a designated jar. Or open a separate auto-debit savings account for any amount of money that is reasonable for your own budget. The amount is not as important as the commitment. Then avoid the temptation to dip into this special savings account. You\u2019ll be joining an elite group that sees the fulfillment of life\u2019s \u201cwants\u201d as being as important as providing for the \u201cmust-haves.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

There are people, believe it or not, who save with enjoyment in mind, rather than serious objectives such as major purchases or retirement. They consider personal growth and fulfillment worthy objectives for their savings. Their goals could be as diverse as donating to a charity pursuing a hobby, traveling or doing things that make life […]<\/p>\n","protected":false},"author":53,"featured_media":7504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[89],"tags":[661],"_links":{"self":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts\/7486"}],"collection":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/comments?post=7486"}],"version-history":[{"count":0,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts\/7486\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/media?parent=7486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/categories?post=7486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/tags?post=7486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}