SAVING FOR TODAY:
SET SOME GOALS

No matter if you’re just starting out, or you’re well on your way to retirement, you need to assess where you are now and where you want to be in the future.

Give yourself a reason to save and you’ll reach your savings goals faster than you think. Your goals can range from short-term ambitions like saving enough money for that trip to Europe. Or they can be more long-term like saving for a down payment on your first home. Sure, you don’t think your current income is enough, but let’s be honest, most people never do. You spend what you make, no matter the amount.

But stop!
Before you do, consider carefully what is really important to you at this time. Narrowing your goals to the top 5 will help you maintain your commitment to saving. Your goals are a reflection of what you value most in life.

Your financial picture
Now let’s turn those “must-haves” into reality and figure out how much it’ll cost you to achieve them.  Track how you spend your money for one month. How often are you eating out? How much is your rent, your phone bill and your car insurance? Then look at how much you’re bringing in each month, and see how much you have left over. The leftovers can easily become your savings.

So, are you satisfied with the amount of money you have left over at the end of each month? Then good for you! You have our permission to skip the next section on smart spending.

Goals Exercise
We all have goals. Most people, however, don’t put them down in writing. Right now, grab a piece of paper and write down 5 short-term goals and 5 long-term goals.  Keep this somewhere handy:  in a daily calendar, on your desk, on the fridge, to help remind you what you are saving for and where you want to be financially.