Do you struggle to reach your savings goals? Always have an end goal in mind yet it only seems to be getting further away? Here are the things I implement when it comes to saving. Using these methods have allowed to me to book my dream trip, travelling around the USA. Let’s make your goal a reality too!
Create A Budget Spreadsheet
The first thing you need to do when making a savings goal is to work out what your expenses are. Using this information you can calculate a realistic expectation of how much you can save. I create a spreadsheet for normal expenses and budget for any other areas such as socialising and birthdays. It’s really important that you don’t restrict your spending completely.
What is essential?
This is the difficult part but, done correctly this is going to help you reach that goal faster. Think about your average monthly purchases, is there anything you swap or change to save more? For example, buying lunch at work is a huge cost compared to bringing food from home.
Check your direct debits
If you are still looking for areas to cut back, the best place to look is in your direct debits. Chances are you are paying for a subscription that you may not be utilising. For example, paying for the gym if you don’t attend. Or a subscription service you receive. It’s easy to forget about these things when they automatically are deducted from your account.
Use A Time Constraint
Saving gets extremely difficult when your end goal slips away from you. You begin to lose motivation and forget why you are doing it in the first place. It’s really important when making your goal to set yourself a date that is realistically achievable.
Discipline is key!
It’s now all down to you. If you are disciplined and stick to your savings plan you will reach that goal. No matter how far away it is, the time will fly by and your goal will be a reality!
Are you that person who struggles to save? Or do you have methods to achieve your goals? Let me know if there is anything you do differently.
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