The Basics of Savings Success
Want to save, but not really sure how? Here are a few things to consider to get you going:
Getting to the Goal! Determining what’s important to you is the first step to saving success. After all, we usually spend or save for the things we want and need most! Take some time to think about what’s important to you and how your money can help or hinder you from achieving your dreams. Like to travel with friends? Enjoy technology? Want to retire early? Consider these things and then count the cost and start saving!
From here you’re ready to set some money goals that will help you turn your dreams into a plan. It’s good to have something you’re targeting to keep you focused. You can set short-term goals – those happening in the next several months to a year; midterm goals happening in the next 3-5 years or even long-term goals that will happen in more than five years.
Don’t set too many, and be sure they’re SMART – Specific, Measurable, Attainable, Realistic and Time-oriented. Some sample smart goals while you’re in school might be:
Now you’re ready, so S.T.A.R.T – That’s right, Set a goal, Take action, Adjust as needed, Reward progress, then Tackle another goal! Get going!
Here are a few tips to help you get to the goal when it comes to saving. Stay tuned to our creative hacks section for even more tips.