When you’re saving for short-term goals, it’s easy to get overwhelmed with putting money aside. But it doesn’t have to be.
Here are 3 tips for saving for short-term goals:
- Save for One Goal at a Time – It’s much easier to attack one goal with as much force as possible then to spread yourself out over multiple goals. You can’t always focus on just one savings goal, but if you can, do it.
- Push Yourself to Reach it Quicker – By determining how long you’d like to take to reach the goal, you’ve given yourself a maximum amount of time necessary. Aim to hit it quicker by pocketing bonuses, gifts, and any raises you get.
- Make it Part of Your Spending Routine – If you’re at the supermarket or out at the mall, think about what you’re spending money on: could you get something cheaper (or not at all) and put the difference toward your savings?
Saving money can be one of the most exciting things you do. You’ve probably experienced it when you got a good deal on a purchase; putting money aside is just as good.
When you find you already have the money to buy something you need, you don’t stress about it – you enjoy it.
What tips do you have for short-term savings?
