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Striking a balance between short term and long term needs

Joshua Farrell

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Some people have a hard time trying to separate funds for short term immediate funds, and funds set aside for issues in the future. If you are not diligently putting some money aside for the future, you may end up working more than you should to get funds for emergencies.

Have you found a way to split your money for the here and now, and for the future? If so, what works for you?
 
What I do is always have a scale of preference which means I only spend my funds in whatever is of much importance at the moment this would enable me have some funds I could keep for other long term tasks as well.
 
The long term needs need to be balanced with the short term needs. One need to just plan them out to be able to work out in a perfect way so as to be able to balance both up.
 
Balancing short term needs and long term needs is one of my biggest problem, so I only spent on what is necessary now I can not afford more because of earnings are not much.
 
I would advise that the short-term needs should be considered first because when you are coming late the short-term needs it will form the long-term needs and it is easily achievable.
 
Since am only working online for now I usually save for short term use. If I get a normal day job I will start doing that for now am just using it whenever I need it.
 
In my opinion I think there should be a decent plan for short-term and long-term needs. You should give more priority to your short-term needs because they are short termed that is their duration and life span is short so they should be met quickly. Long-term needs can still be attended to later.
 
I think that if the short-term needs are met then it is probably going to be very possible to meet the long-term needs when you chop it down into manageable bits.
 
Although it is not that easy to balance between a short term needs and long term needs but I see that once you try through this online forums and earnings, you will be able to achieve your short term needs.
 
It is very good to make a balance between the long-term and short-term needs but the short-term needs must be met for because that is what you would need to survive at that moment.
 
I believe one should understand and analyze both short-term and long-term needs after that try to balance them. If you focus only on short-term balance you will face difficulty in the future on the other hand if you focus only on long-term balanced you will stay frustrated in the present.
 
I've found that whatever I try to save for long term needs is best kept in a stable investment that can retain it's value over time, like non perishable food items, real estate or gold rather than liquid cash.

If I'm to keep cash, it's best that it's in a fixed savings account where I don't have access to it.

I learnt the art of savings from the book, the richest man in Babylon. I save 10% immediately I get paid and do my best to limit my expenses to the remaining 90%.
 
I focus more on the short term needs. This is due to the fact that I do not really bother about the problems that tomorrow may present because I trust God to always make a way.
 
For one to have some funds you need to spend wisely in order to save for future use, because is really good to have long term saves is very important for future always make a way for that.
 
It is not easy trying to maintain a balance between a short-term and long-term needs because we have to do so many things to keep our self. Especially for some of us that are making little amount of money every month.
 
What a brilliant topic to talk about! Yes, I completely agree that one must keep a balance between short-term and long-term needs.


As I have just started my career, I try my best to not spend money on unnecessary things and focus on my savings first.
 
To strike a balance between the short-term and long-term needs, one would need to write them down and prioritise the need. then you would start executing it from the level of importance. Because if you do not write them down, you won't be able to strike a balance.
 
To be frank short time need are need so demanding because they are our everyone and everyday needs examples your bathing shop is a short team need that is demanding every day of our life but having a land is a long team need one can Endure long term need because is capital intensive
 
Striking a balance between short and long term needs are very big case to look in my country, so most people who are under salaries usually use there salaries to plan for long term needs where the other side business are use to settle short term needs.
 
A friend of mine always recommends having two bank accounts for this for people who can't manage their funds. You have one account that is strickly used for bills, savings, etc. and the other one is meant for general spending which includes groceries and items you don't necessarily "need" like a new TV.
 

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