What goals should you set to make your plans reality?

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5 min
By Birdee

Can you indulge without jeopardising your financial security? Birdee offers some tips on how to get there.


Achieve a better standard of living, make plans, go on holiday, in short, enjoy life! That is what many people hope to achieve, and rightly so! However, while some prefer to save money, others spend like crazy. At the risk of quickly running out of money! But good news, no one is doomed to be a financial basket case! Do you want to know how? Follow these five valuable tips.


About your financial balance sheet you shall think

"What's the point of taking stock of my financial situation, I'm not an entrepreneur!" Even if you don't actually run a business, learning how to manage your personal finances is THE key to making the most of your money without neglecting your savings. It's an essential first step. Why? Put simply, because it allows you to understand your situation, to know your spending capacity and the limits you shouldn't cross. Try to visualise your money as a three tier cake, each tier having a specific use:

  • the first tier is for essential living expenses,
  • the second for savings,
  • the third to indulge.

Birdee has already covered this topic in more detail in two previous articles (here, and here too). There you will find more detailed information. But in summary, keeping your financial balance sheet in mind is the starting point to turn your plans into reality and still indulge without throwing your money down the drain.


your finances in order you shall put

Are you a grasshopper? Then get in an ant frame of mind! The goal is not necessarily to save money at all costs (it's very difficult to go against your nature), but to be a little more disciplined. And that means getting your house in order! Some examples:

  • Repay any loans that can be repaid (especially consumer loans),
  • Decide the composition of your asset portfolio (regulated accounts, life insurance, PEA, etc.) in order to achieve a good mix between back-up savings (with a low return) and investments featuring a little more risk (and therefore higher return),
  • Define your investor profile (Birdee can help you with our specific tool),
  • Set up automatic transfers into savings accounts

This "spring cleaning" is intended to put an end to the false dilemma of thinking you can't save money AND indulge.


how to make your money grow you shall learn

Money has a nasty tendency not to grow on trees. It also has this annoying habit of never cloning itself (#annoying). But the smart investor knows how to make it grow! Saving is not just about putting money in a low-yield savings account. It's mostly about making it work so that it can earn a profit and help you make your plans reality, such as financing a trip, buying the latest TV or console, etc.

With Birdee, by investing in products like life insurance or a securities account, you give meaning to your savings, and reap profits! Of course, you have to accept a certain amount of risk, but you will stay within a well-defined risk profile that takes account of your objectives in terms of return on investment.


keep a close eye on your investments you shall

Financial balance sheet? Check. Well-distributed savings? Check. All good, right? Yes, but you're only at the beginning of this financial journey! Have you ever wondered why some rich people sometimes find themselves buried under a mountain of debt? It's because they fell into the trap of spending lavishly and carelessly to maintain their wealth. And yet the key to enjoying life and having fun is knowing how to act rationally. Being in a "good financial position" does not mean "spending like crazy". Similarly, a sudden windfall of money, while it may allow you to buy an unexpected gift, does not necessarily have to be spent all at once!

It is essential to strike the right balance between achieving your short-term and medium/long-term goals. As Phineas Taylor Barnum, an American entrepreneur, said, "There is more satisfaction to be found in rational saving than in irrational spending." At Birdee, we like this quote too: "Spend what you have left over after you've saved," said financial guru Warren Buffet. In terms of wise investing, Warren knows what he's talking about ;).


Invest wisely you must

Invest wisely and you will be surprised by the results. Always invest in the full knowledge of the product you are choosing. With Birdee, when it comes to a life insurance or securities account, for example, you will be informed at every step of the process, both when opening the account and during the term of the contract. Opportunities, certainly, but also risks.

Are you interested in real estate? Find out beforehand about the area and the property you are considering. Are you interested in cryptocurrencies? Why not, but as always, only invest what you are willing to lose. And of course, ideally, avoid financing holiday plans with dubious investments, such as gambling. Indulge yourself, yes, but not at any price!

If you want to give meaning to your investments and take on a higher risk than traditional savings accounts, which will also allow you to diversify your investments, don't wait any longer to make your money grow! You can boost your savings and still enjoy life with as little as €50!


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