You might be asking yourself, what is an FU fund? Well, this is my way of having some fun with finances. FU stands for Future Use, or what I also like to say, FU debt fund. Our household has built this fund into our budget for many items. The fun thing about a FU fund is that you get to decide what you are saving for and can make a fun game out of it. This fund can be used for every non-standard monthly purchase like TV’s, Automobiles, Vacations, Game Systems, Lawn & Garden renovations, Home renovations, Birthday / Holiday gifts, etc… When planning out your purchases using an FU fund it does a couple things:
- It allows you to stay focused on your long term financial goals while still being able to enjoy life today. Staying focused on your long term goals is what separates living life intentionally and with purpose instead of letting life happen to you. Letting life happen to you is how most people tend to live. Coasting through life without a care in the world. Coasting through life without a plan keeps you broke and wondering where all your money goes. When your mindset changes to an intentional way of living your world is turned upside down. You see everything through a different lens. Everything starts transitioning to a positive outlook. Things that you felt were impossible in the past start to become possible. This new perspective brings hope into your world, and this time it’s not just a dream, your dreams slowly become your reality.
- Having an FU fund allows flexibility in your budget. Being able to tell your money where to go instead of your money telling you where it’s going. There is a lot of power brought back into your household when you take control of your finances. Having these types of funds allows you to dictate what months you contribute to it or if you pass a month due to other more important events that come up. You start deciding where and how your money is being spent instead of your money telling you.
- It allows you guilt free spending!! Yes, I said guilt free. Who doesn’t want that!!?? This is your reward for sticking to your plan. You now can purchase your item knowing your long term plan wasn’t compromised along the way. This really makes for a more enjoyable purchasing experience and will bring you joy every time your new item is used. Purchasing items using an FU fund is one of the most rewarding experiences you will ever have.
In the famous quote in Jerry Maguire, “You had me at guilt free spending!”. That is an amazing reward for building in an FU fund. Building in an FU fund, or multiple, really helps get your financial house in order. Take back your financial control today! Doing this brings hope, security, peace and many other feelings back into your home. If you aren’t sure where to start, reach out, we are here for you!
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Crossroads Financial Coaching LLC