I started homebrewing about five years ago. I had just gotten a real job and apartment, so as far as new hobbies go, it was the perfect time. And it was awesome! I loved it! Well, until the time came to bottle it, that is. Between cleaning, sanitizing, and filling 50 individual bottles, I got kind of sick of the process.

So, like an actor in an infomercial, I threw my hands up and shouted, "There's got to be an easier way!" Turns out there was: popping the sudsy stuff in a keg, instead.

I got right to work, drawing up plans for what would be my crowning achievement: a four-keg system, jet black, outfitted with rosewood, stainless steel, and every bell and whistle I could imagine. It was perfect on paper – artistic, even.

But it was expensive. And I had a job at the time making less than $15 per hour...
 

making a list

 


Here's what I did.

First step: calculate how much I'd need for the build. Between the freezer, temperature controller, and all the bells and whistles and equipment, I was looking at around $1,000 (I never said this was a cheap project).

Next came the timeline. For this, I needed to figure out how long it would take to afford the build based on how much I could set aside. That was around $50 per paycheck, give or take. At that rate, it would take me around 20 paychecks – the better part of a year. That didn't deter me, though. Some months I could contribute more, and at other times I could do less.

You see, that's the thing about budgeting: sometimes you need to be fluid (pun intended). Life happens – whether it's an unexpected car repair or the electric bill is higher than normal, you need to adjust your "wants budget" alongside the "needs budget".

But after several months, I did it.

And I have to tell you: pouring that first pint felt amazing!
 

brewing beer

 


Have a simple system.

All this is to say, budgeting for a goal doesn't have to be complicated. It's as simple as getting a price, saving some cash, and making it happen. For me, it was a keg system. For you, it could be a vacation or a trampoline.

Here's a three-step system to a savings goal:

  • Take your paycheck and chop out your expenses (taxes/rent/bills/food/life)
  • Decide what you can set aside each month in savings
  • Divide the total cost of your goal by what you can set aside

And, just like that, you've got a timeline for hitting your goal. Find something you're passionate about, decide what you can afford, make a budget, and just go for it. Above all, make it work for you.

Cheers.


-Devin M.

MoneyTalks Financial Blog Articles

  • Cooperative Principles: Diversity, Equity, and Inclusion

    Credit unions support diversity, equity, and inclusion as a shared credit union cooperative principle and continue to have a responsibility and take a leadership role in building and serving more diverse, equitable, and inclusive communities.

    diverse-paper-hands-and-earth
  • Cooperative Principles: Membership and Participation

    Members are the owners of the credit union and contribute to its capital. Members, not shareholders, benefit from their credit union’s profits in proportion to their relationship and use of its products and services. As voluntary, not-for-profit financial cooperatives, we offer services to people willing to accept the responsibilities and benefits of membership, without discrimination.

    diverse-multigenerational-people
  • Cooperative Principles: Cooperation Among Cooperatives

    Credit unions serve their members most effectively and strengthen the cooperative principles by working with other cooperatives through local, state, regional, national, and international structures. In other words, unity is our credit union superpower!

    blue-human-figures-connected