“I’m clear about setting boundaries with money and relationships. If somebody asks me to go do something and it costs more than I’m willing to pay, I just say, ‘Hey, that’s not in my budget right now’”
Photo: H. Armstrong Roberts/Getty Images When she was right out of college, Tori Dunlap, a digital marketing manager based in Seattle, set an extreme goal for herself: She wanted to save $100,000 in three years, by the time she was 25. She recently hit that number a year ahead of schedule. So, how did she actually do it — and still manage to lead a semi-normal life as a 20-something in a major city? It certainly helped that she graduated from college debt-free, which gave her a big leg up.
What do you do when you really want to buy or spend money on something? Do you ever feel too strict with yourself, or wish you could splurge? I used to struggle with spending money in general — I would tell myself “no” all the time. I didn’t want to go out to eat because I was used to the mindset of, why would you spend money at a restaurant if you have food at home? If it was someone’s birthday dinner or something, I would have to mentally prepare myself for the bill.
Eventually, I realized it was worth it to me to spend money on certain priorities, as opposed to trying to spend as little as possible all the time. I have three “value categories” — the three areas in my life where I get the most joy and I’m willing to spend money. For me, it’s travel, eating out, and nesting. I buy a lot of plants, throw pillows, and stuff like that to make my apartment cute. I live alone, which I love, and pay $1,450 a month in rent.
I never got an allowance — I had to earn my own money. When I was 9, my parents helped me start a business with candy machines, the kind where you put a quarter in and get a handful of candy out. My dad gave me a loan to buy a bunch of them, and I had to use my earnings to pay him back. I put them in local businesses in Tacoma, where I grew up. It’s not like I was making tons of money, but I got to keep 10 percent of the profits, and the rest went to my college funds.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Revivals of 'Saved By the Bell' and 'Punky Brewster' Are Headed to NBC's New Streaming ServiceWait, Zack Morris became a Governor?!
Read more »
What Can Be Saved?Planting trees, many scientists believe, may be the best remedy for global warming. Dive into work underway worldwide to renew forests and reduce man-made carbon emissions in AP's in-depth series exploring tireless efforts to heal the planet by scientists and ordinary people.
Read more »
A YouTuber Crashed the Chanel SS20 Show in Paris and Gigi Hadid Saved the DayExcuse moi?
Read more »
Heroic dog saved elderly owner's life after her iPad caught fire as she sleptBubba the Boxer raced into his owner's bedroom to alert her of the danger as smoke filled her home in Holiday, Florida.
Read more »
What Can Be Saved?Planting trees, many scientists believe, may be the best remedy for global warming. Dive into work underway worldwide to renew forests and reduce man-made carbon emissions in AP's in-depth series exploring tireless efforts to heal the planet by scientists and ordinary people.
Read more »
You’re in Your 60s and Haven’t Saved Enough. Here’s What to Do.Don't have enough savings for retirement? It's okay to plan to work longer, but our columnist says you must also have backup plans
Read more »