Ever notice how it seems like everyone else is going on an amazing vacation? And when you sit down at the end of the month and are trying to find those extra dollars for the vacation, you just can’t seem to stretch that dollar enough. One of the keys to making it happen is putting the fun back in your money. How? Follow these easy steps.
1. Associate the Fun with the Not-So-Fun.
If you are like most of us, figuring out your mutual fund allocations is as much fun as going to the dentist. But what if you crossed learning about mutual funds with your favorite hobby such as yoga or watching NASCAR? It could be as easy as that. Start associating the two. Every time you plan to take a yoga class or watch a race on TV, you have to look up a mutual fund you own on www.morningstar.com, or read a few pages of Money Magazine or even ask a smart friend about their mutual funds in their 401k BEFOREHAND. Put it in the schedule and then you have permission to Om away!
2. Running to Ratios.
You are so wild about running, you would run every night after work or sign up for a 5k every weekend if you didn’t have other obligations. But what if you could start learning key financial terms such as expense ratio, exchange traded funds, and asset allocation, while you are making your mileage every week? Take advantage of that time running by downloading some interesting and FUNNY podcasts from NPR or iTunes onto your ipod. Most are free. My favorites are: Planet Money and Marketplace.
