There are two kinds of people; those that save with no clear endgame or someone who spends because they can’t figure out what goals to set. Either way, it’s easy to feel like things are somewhat pointless and empty. Having goals to strive for can be the motivator you need to keep working hard. But what kind of goals are worth all the stress and hassle? There are two types of goals: short-term and long-term. Short-term goals are what you can accomplish within a year’s time while long-term goals take longer. However, we’ll be solely focusing on long-term goals. In this article, we’ll be covering a few long-term goals that are worth saving for.
Taking a Long Vacation
After dealing with the hustle and bustle for a few years, you’re probably already looking forward to a nice vacation. But we’re not talking about a few days; we’re talking about a few weeks or even months. Long vacations are a very common goal, and even after following money saving tips for a period of time, they’re also expensive. From the travel expenses to the hotel costs, you can easily spend around $1,000 or more. Granted, how much you ultimately spend does depend on where you’re heading and how long the trip is.
Remodeling Your Home
Have you recently taken an in-depth look around your home and decided it’s time to spice things up a little? Well, there’s no better way to make a house feel like new again than by getting a remodel. You have a near limitless amount of options when it comes to remodeling your home. You can add more space into your living room, build an additional garage, and even add a new bathroom. One remodel we recommend is a home elevator. From the name alone, you can already guess what this is used for. What you may not know, however, is how much of an investment it is.
Home elevators, despite their simplicity, are one of the most expensive remodels you can get. But in exchange for this high cost, you get some amazing benefits. For starters, you can significantly boost the property value of your house. So, if you ever plan on selling in the future, you can turn a bigger profit. Another benefit is how much safer it’ll be ascending the upper levels. Young children, those with disabilities, and elders have an increased chance of experiencing a slip and fall. Slip and falls are the number one hazards in a household. Installing a home elevator effectively eliminates that risk.
Something we should point out is that your home may not be currently eligible for a home elevator. It’s for this reason why it’s such an investment. You need to have a specialist assess your house and see if you have enough space. If not, you’ll need to have it added before anything else. Be sure to review a home elevators cost guide to get a rough estimation of what you’ll be spending.
Your Child’s College Education
As a parent, nothing is more important than your child’s happiness and success. College can be one of the most trying experiences of their life, and they’ll need you more than ever. A great way to do this is to invest in a 529 plan.