kerkezz – stock.adobe.comAdobe Stock by Jeanne Sahadi. CNN Let's face it: While saving and investing are necessary, they can often feel like a chore. They are much more rewarding when you consider them more than just spreading money across various investment categories (e.g. bonds and stocks) to fund a distant, uncertain future. Benz suggests that everyone focus on the allocation of their 'time on Earth'. This means that you should think about your priorities and decide what you want to do with your time. Perhaps you are looking to retire from the workforce to spend more time at home with your children. You could also leave a lucrative job to find one that's less rewarding but is more fulfilling. Benz stated that achieving both short-term and long-term goals is powerful. "Saving to buy a first home is an important step in putting your finances in order. It is important to see the payoff. "People in their 20s or 30s don’t identify with their 65 year-old selves." It is important to identify short-term escape routes. Your 'time on Earth' goals are about spending more time doing things that matter to you. These are the three most important steps to help you get started. Figure out how your income is divided between investing and spending. How are you using your income stream? You can use the short term boost to pay for a vacation, save for a second house, or fund a sabbatical. This is especially true if you have a long-term retirement plan. Instead of maxing your 401(k), reduce your contributions and redirect the money to a tax-free brokerage account. Take into account tradeoffs. Benz stated that there are many decisions that involve time-money tradeoffs. If you could spend your weekends with family and friends, would it be worth it to hire help? Do you find satisfaction in cleaning or saving money? It could also be more costly, like deciding whether you want to purchase a larger home that requires more upkeep or a smaller one. Are you able to live in a larger house? Or will you prefer a smaller, more affordable home that is closer to your needs? Is your job well-paid and leaves you little time to do other things? Are there any other options that could fund your needs, but not take so much of your time? Find ways to trim down now. It's possible to save money by cutting back on unnecessary spending. Benz stated that spending cuts are the best way to make money. This could help you decide to retire earlier or move to a lower-paying job. Discovery Company. All rights reserved.